Uniswap burned 100 million UNI tokens worth $596 million, the largest burn in DeFi history. The governance-approved fee switch, “UNIfication,” passed with 99.9% support, reducing token supply. Notable backers include crypto heavyweights. Uniswap Labs confirmed the burn, setting fees to zero and activating them on v2 and v3 pools. UNI rose over 5%, with a current circulating supply of 730 million out of 1 billion. Uniswap Foundation plans to allocate 20 million UNI for ecosystem growth, continuing support for developers.

Read more at Cointelegraph: Uniswap Burns $596M in UNI After Fee Switch Governance Vote