UNI BOTTOMED OUT HERE

Jul 8

UNI The fee switch expanded to eight L2s through an executed governance vote, with 98.1% of revenue now reaching holders

Uniswap finally flipped the fee switch in late 2025, burning UNI from protocol fees, but the impact so far is marginal

UNI generated $5.6B+ in fees since inception. One of the top DEXs by volume, ever. Solid airdrop. Massive community.

But UNI still trades ~92% below its ATH, near multi-year lows

If UNI was equity instead of a governance token, I doubt it'd be this cheap

Jul 9

Trade active

UNI GOING UP AS EXPECTED

Jul 29

Trade closed: target reached

Following a governance vote with 97% approval, Uniswap activated an expanded protocol fee on July 27. The update applies to Robinhood Chain and Uniswap V4 pools, redirecting a portion of trading fees from liquidity providers (LPs) to the protocol. Collected fees are used to buy and burn UNI tokens. Analysts project LP fee revenue could drop by up to 25% on V2/V3 pools and 33% on some V4 pools, raising concerns about liquidity migration to competitors like Aerodrome Finance. This is a fundamental shift toward making UNI a value-accrual asset, bullish for token scarcity but bearish for short-term LP incentives. The long-term success hinges on balancing protocol revenue with competitive liquidity depth. On July 29, UNI's price jumped over 8% to reclaim $4. The rally was fueled by founder Hayden Adams clarifying that the new V4 protocol fee is added to the trader's cost, not deducted from LP earnings. For a typical 30-basis-point pool, a 5-bp fee is added, with LPs still receiving their full 30 bp. This clarification alleviated immediate fears of a direct cut to LP yields, which is bullish for sentiment. Technically, UNI faces immediate resistance between $4.10 and $4.30; a breakout could signal a broader recovery, while rejection may lead to a pullback. Uniswap is strategically transitioning its tokenomics to capture protocol value, a move that strengthens UNI's deflationary thesis but tests its ecosystem's equilibrium. Will the promise of token burns outweigh the risk of liquidity migration to rival DEXs?