Uniswap has recorded its biggest day $UNI burned under the UNification mechanism as Hayden Adams renewed his bullish view on DeFi and Ethereum.
Hayden Adams, the creator of Uniswap, said on
Adams said sentiment about Ethereum was also very low during that cycle, but builders used the period to create products that later helped drive the 2020 DeFi summer.
Woke up extremely bullish today about DeFi and Ethereum
Uniswap was launched during the 2018 bear, when sentiment on Ethereum was at an all-time low
Uniswap and other defi projects built relentlessly through that bear market and proved how powerful Ethereum can be, catalyzing the defi summer and… https://t.co/HsZHjJ1xPW pic.twitter.com/J9YW83kpIn
— Hayden Adams 🦄 (@haydenzadams) June 5, 2026
Uniswap Burn Hits Record Levels Daily
The $UNI Burn Bot reported that 134,000 $UNI tokens were burned in one 24-hour period, marking a new daily high for the UNIfication program. The record came a day after trackers showed stronger fire activity tied to fees collected through Uniswap’s on-chain contracts.
A new all-time daily record for $UNI burned was hit yesterday
134,000 $UNI burned in 24H 🔥
— $UNI Burn Bot (@UNIBurnBot) June 5, 2026
Under UNIfication, protocol fees are first collected and held in TokenJar contracts. Users who wish to claim these fees must burn an equal value of $UNI through a contract called Firepit. After the process is completed, it is burned $UNI is sent to Ethereum’s 0xdead address, which permanently removes the tokens from circulation.
Uniswap Labs and the Uniswap Foundation approved the UNification plan at the end of 2025. After the proposal was announced, $UNI rose from $4.95 to $9.25 within a week, based on the figures cited in the market response to the proposal.
Proposition 96 expands reimbursement across chains
In May, Uniswap’s board approved Proposition 96, which expanded fee collection $UNI burns to BNB Chain, Polygon and Celo. The decision increased the number of chains using the burn mechanism to 11, including Ethereum.
The expansion is important because Uniswap is now active in more than 40 chains. Data cited by Uniswap shows that the protocol holds a total value of $2.86 billion. Ethereum is responsible for $1.96 billion of that total, while Base holds $416 million and Arbitrum $198 million.
Since launch, Uniswap has generated $5.59 billion in cumulative fees. However, the amount is intended for: $UNI holders through the burn mechanism totals $14.15 million. According to the figures provided, annual fees currently stand at almost $882 million.
Product updates are aimed at everyday users
Uniswap Labs also announced four product updates focusing on cross-chain user access. The updates include in-app wallets, cross-chain swaps, portfolio tracking and multichain portfolio views.
The company said all four features are live and will not incur interface fees for swaps. Uniswap Labs also said that internal research found that 49.9% of new Ethereum, Arbitrum and Base traders who traded in 2026 made their very first trade on Uniswap.
Despite the latest fire record and new product releases, $UNI still trades at $2.47. The token remains more than 92% below its May 2021 all-time high of $44.97.
$UNIThe company’s market capitalization is $1.54 billion, with 622.71 million tokens in circulation. The latest data puts the burn mechanism at the center of Uniswap’s current token strategy, while Adams’ comments link the protocol’s latest activity to a longer DeFi build cycle.