If the DAO agrees, Uniswap will finally become a "closed loop" network token: fees paid to the decentralized protocol will be captured by the token through a buyback and burn. And if the DAO decides, new tokens can be minted to help pay for protocol growth. A lot of legal work

Network tokens should have onchain revenue.

A proposal for the next chapter of 🦄 UNIfication is a joint proposal from Uniswap Labs and the Uniswap Foundation that turns on protocol fees and aligns incentives across the Uniswap ecosystem Positioning the Uniswap protocol to win as the default decentralized exchange

> As part of this, Labs will stop collecting fees on its interface, wallet, and API to supercharge distribution and adoption of the Uniswap protocol llama didnt expect this ngl

this is big on so many fronts, with one detail that might go under the radar. the separation between Labs and Foundation is over so often that has resulted for crypto projects in additional friction, lack of communication, reduced efficiency and effectiveness total nonsense

Still hiring.

re: Uniswap proposal - obv it's good and we wish it way way sooner (duh) - Hayden signals all-in on removing token/equity misalignment - all value to token, no frontend/API/wallet fees - more centralized decision making - the fud on LP fees going to protocol hurting LP

It’s a bit weird that for awhile, the legal incentives were set up such that you build a product, but you have to keep it at arm’s length. A decentralized product means there needs to be a mechanism to keep key actors aligned so all can benefit - the users, LPs, devs, protocol.

if you loved today’s news: awesome, we’re building for you if you hated today’s news: awesome, we’re building for you

Yesterday was a good day for DeFi. A good day for Ethereum. Uniswap did the right thing. It kept a promise. It restored something we’ve been missing for three years: Belief. Since 2022, the nihilist crypto narrative has been winning: - everyone’s here to f**k you over - no

remember when gary gensler said all our tokens were "rife with fraud, scams, abuse" then he left and suddenly our tokens added onchain rev shares and fee switches and became actually investible maybe gary was the problem 🤔

Alongside the UNIfication proposal, Uniswap researchers just dropped a new paper: “The Protocol Fee Discount Auction (PFDA)”. This is a novel mechanism that boosts protocol inflows and makes LPs more profitable. Let’s unpack 🧵

In 2021 I wrote about Product vs. Protocol in crypto, suggesting that protocols should "commoditize the complement" by giving away the products they build on top, in order to maximize growth and value of the underlying protocol (pocket playbook below) This essay was inspired in

After years of searching for ways for LPs to recapture LVR, it turns out the (partial) solution was… to turn on the fee switch I think that’s beautiful

The Uniswap proposal isn't the end of the decentralized DAO model. It's the next generation. Tokens like UNI can provide holders real ownership of onchain infrastructure and cash flows without asking them to design and vote on every single change and improvement in the project.

i think there's a place for a wallet and a place for a social feed/everything app - i miss the days when my wallet was just a wallet. the more it's the latter... the more it is expected for wallet providers to do more as well.

"In short, a token is no more a security because it was once part of an investment contract transaction than a golf course because it used to be part of a citrus grove investment scheme." -- U.S. Securities and Exchange Commission Chair Paul Atkins.

Token pricing should be transparent and community-driven - a new standard to price tokens and seed liquidity on v4

Uniswap has made financial markets more transparent and equitable than the SEC could ever hope to, and they did it without a dime of tax money, and without any threat of coercive violence. Amanda Fischer

Also, it shows that clarity is needed regarding tokens. Reasonable minds differ on its classification, and Chair Atkins' speech from this week highlights that not all tokens are securities and that tokens are not forever defined by an investment contract. sec.gov/newsroom/speec…