Uniswap is set to begin on-chain voting to activate protocol fees on its newest version, v4. The move, backed by 93% in a recent temperature check, would extend a deflationary mechanism to pools across 11 blockchains.
The proposal targets specific v4 pool types, including static fee pools and those using customizable "hooks." Fees would be collected on their respective chains, bridged to Ethereum, and then sent to a burn address, permanently reducing the UNI token supply.
This expands a system initiated in late 2025 for older Uniswap versions, which has already produced significant burns, including a single-day record of 186,000 UNI. The goal is to create a multi-chain revenue pipeline that funnels value back to the core Ethereum network.
The vote is scheduled to begin around July 19, 2026. While the approval rate is high, some liquidity providers have expressed concern that protocol fees may reduce their returns.