I'm following this here and it's quite interesting what's happening with Uniswap now. The UNI holders voted on a proposal that activates the fee switch on eight Layer 2 chains - Base, Arbitrum, OP Mainnet, and others. The cool thing is that when these fees are activated, a portion of them goes directly to the pool, and investors can redeem UNI equivalent to what was burned from the protocol. Basically, it's destroying tokens to generate rewards, you know? They expect this to double the current yields.

Looking at the history, the switch has been active on Ethereum since last December, generating $3.3 million. But what stands out most is Base - since 2026, the chain has been generating more fees than Ethereum itself for Uniswap, with $55 million in fees. It's a very significant change.

The market reacted to the news, but not exactly as some expected. UNI dropped 7.61% over the past seven days, now at $3.24. Bitcoin and Ethereum also declined in the same period, so it might be a general market movement. The final vote ended on March 4th, so we're watching how the implementation will unfold from here. It's worth keeping an eye on how these Layer 2 chains will perform with this change.