DUNE data showed that Uniswap’s official burn mechanism destroyed 178,000 UNI yesterday, worth more than $1.11 million. Robinhood Chain alone contributed 144,000 UNI, making up more than 80% of the total and far exceeding other networks including Ethereum and Base. The figures point to Robinhood Chain’s growing activity within the Uniswap ecosystem.
The update follows an earlier governance move by Uniswap. On July 15, the protocol proposed extending fee collection and the UNI burn mechanism to Robinhood Chain across v2, v3, and v4. Under the proposal, protocol fees generated on Robinhood Chain would be sent to the chain’s TokenJar contract. Searchers would then be able to redeem those fees by bridging UNI back to Ethereum mainnet and sending the tokens to a burn address.
DUNE data showed that Uniswap’s official burn mechanism destroyed 178,000 UNI yesterday, worth more than $1.11 million.
Robinhood Chain contributed 144,000 UNI in a single day, accounting for more than 80% of the total. That put it well ahead of other chains including Ethereum and Base.
Earlier proposal extended the burn mechanism to Robinhood Chain
BlockBeats previously reported that Uniswap submitted a governance proposal on July 15 to expand protocol fee collection and the UNI burn mechanism to Robinhood Chain, covering v2, v3, and v4.
Under the proposal, protocol fees generated on Robinhood Chain would be sent to the network’s TokenJar contract. Searchers could redeem the fees by bridging UNI back to the Ethereum mainnet and sending the tokens to a burn address.
This article was originally published by Bit.Fan. For more cryptocurrency news and market insights, visit www.bit.fan. Disclaimer:
The market information, project data, and third-party content displayed on this platform are for industry information sharing only and do not constitute any form of investment advice or return commitment.
Cryptocurrency trading carries high risks. Users should fully assess their risk tolerance and make independent decisions. All profits, losses, and legal responsibilities are borne by the users themselves.
