Whale transactions hit a four-year high, new UNI wallets surge, as investors react strongly to Uniswap’s governance overhaul.
Uniswap (UNI) has surged over 70% in the past week, amidst increased retail FOMO following the announcement of “UNIfication,” which is a joint governance proposal by Uniswap Labs and the Uniswap Foundation that is expected to reshape the exchange’s ecosystem.
The proposal introduces a plan to activate protocol fees for the first time since the protocol’s inception.
Retail FOMO in UNI
Amidst intense broader turbulence, the market appears to have welcomed the news. Whale activity, for instance, reached a four-year high in daily transactions, which has coincided with the creation of the largest number of new UNI wallets in three years. These developments have contributed to a rapid increase in the UNI token’s market activity as its price briefly neared $10, a level not seen since September.
Santiment stated that retail interest in UNI has intensified during this period. Meanwhile, data compiled by CryptoQuant further shows that Spot Average Order Sizes have risen sharply following the news, with large whale orders indicating early institutional accumulation.
The analytics platform added,
“In essence, Uniswap is evolving from a simple exchange into an integrated revenue engine for DeFi – one where holding UNI itself represents a claim on a growing ecosystem’s value.”
UNIfication Proposal
The UNIfication proposal’s aim is to change Uniswap’s value structure by burning 100 million UNI tokens, which is roughly 16% of the circulating supply. This shift will align protocol incentives and consolidate two driving ecosystem organizations into a single structure with a focus on steady growth and innovation.
Under the new model, fees generated by the protocol and Unichain layer will flow directly into a UNI burn, and turn ongoing usage into lasting value for UNI holders. The proposal also calls for Uniswap Labs to cease charging fees on its wallet and interface products, and instead direct all future monetization toward protocol-level adoption, while the Foundation’s staff and ongoing operations transition to Labs.
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Additionally, a growth budget of 20 million UNI annually will be distributed to fund ecosystem development and ensure community-driven expansion, starting in 2026. If approved, these changes would be the biggest evolution in Uniswap’s governance and economics since UNI’s launch.
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