Uniswap has activated its long-anticipated fee switch, triggering an immediate debate over whether the mechanism can deliver meaningful value capture for UNI in its early stages.
Initial on-chain analysis suggests the newly enabled protocol fees may be generating as little as $30,000 per day in realizable assets. This figure falls well below incentive levels discussed in recent governance proposals and has raised concerns that UNI emissions could outweigh fee-driven burns in the short term.
Based on adjusted figures, some estimates place annualized protocol revenue at roughly $22 million, assuming stable weekday volume and limited Layer-2 expansion. Against proposed $125 million in UNI incentives, critics argue the fees-to-emissions balance appears unfavorable during the initial rollout phase.
Hayden Adams, founder of Uniswap, pushed back on the criticism, calling the conclusions premature and misleading. He noted that only a subset of fee sources is currently active and that key parameters remain subject to future governance decisions. Adams also argued that early burn data does not reflect steady-state behavior due to fragmented fee accumulation and inefficient early arbitrage.
Fuente: Uniswap Governance | Hayden Adams
Disclaimer: Crypto Economy Flash News are based on verified public and official sources. Their purpose is to provide fast, factual updates about relevant events in the crypto and blockchain ecosystem.
This information does not constitute financial advice or investment recommendation. Readers are encouraged to verify all details through official project channels before making any related decisions.
