Uniswap's UNI Surges 19% as Governance Vote on Protocol Fees Begins
UNI rallied roughly 19% once on-chain voting kicked off for a proposal to turn on Uniswap’s protocol fee switch, marking one of the clearest token reactions to governance action this week. The broader crypto market showed little movement, making UNI’s spike stand out as traders priced in the potential for fresh protocol-driven revenue and renewed attention on the token’s role in governance.
If passed, the fee switch would allow a share of trading fees to flow to the protocol treasury, a change that supporters say could fund development and strengthen long-term incentives for UNI holders. Opponents warn it could alter liquidity dynamics for providers. Traders and governance participants will be watching vote tallies and subsequent governance steps closely, since the outcome could influence tokenomics and market behavior in the near term.