Uniswap's Fee Vote Sets the Stage for a New Era in DeFi Valuation

Uniswap's UNI token rose 15% after a governance vote extended fee capture to eight new blockchains, potentially generating an additional $27 million in annual revenue. The vote consolidates Uniswap's transformation into a multi-chain protocol generating cash flow, raising questions about competitiveness on layer-2 networks. The market seems to welcome the change, anticipating an era where real revenue streams matter in DeFi protocol valuation.