Uniswap Removes $596M Worth of Tokens from Supply with 100M UNI Burn

Uniswap has executed a 100 million UNI token burn, permanently removing approximately $596 million worth of tokens from circulation. The burn followed overwhelming community approval of the UNIfication governance proposal, which passed with 99.9% support. UNI rallied 6% following the burn and interface fees have been set to zero while protocol fees activate value capture mechanisms.