PANews reported on December 22 that the Uniswap protocol fee switch proposal, UNIndication, has received over 40 million UNI votes in favor in on-chain governance, reaching the statutory threshold (Quorum) required for passage. As of now, there are approximately 69 million votes in favor and fewer than 1,000 votes against, and the proposal is in ACTIVE status. Voting will end on December 26 at 02:22 (UTC+8).

According to the proposal page, if it is ultimately approved, governance will enable the Uniswap protocol fee switch and launch a UNI buyback and burn mechanism driven by protocol fees and Unichain sorter fees. The relevant contracts are expected to be implemented and take effect later this week as proposed.