Uniswap just flipped the switch on real token economics.
• 100M
$UNI burned (~$591M) after UNIfication passed with 99.9% support
• Protocol fees now fund ongoing burns
• Web app fees set to zero → usage first, value accrual later
• Treasury drops from $2.1B → $1.6B
Result: a deflationary flywheel.
Market reacted fast,
$UNI pushed to ~$6.4, volume +52%, mcap at monthly highs.
This is how DeFi protocols return value to holders.