$UNI Token Rights
Updated Apr 20, 2026Overview
- Token(s)
- UNI
- Token Type
- Governance
- Utility
- N/A
UNI is a governance token that allows holders to propose and vote on upgrades, parameter changes, and fee structures
Governance Rights
ControlUNI holders vote on protocol upgrades, fee parameters, treasury actions, growth budgets, and product rollouts. Proposal creation requires 1M UNI delegated, 40M UNI quorum to pass. All core contracts (V2, V3, V4) are non-upgradeable, only the governance module itself is upgradeable via Timelock.
Governance Decisions
UNI holders vote onchain via GovernorBravoDelegator with execution through a Timelock delay. Proposal creation requires 1M UNI.
Treasury Decisions
The Governance Timelock holds ~264M UNI and is entirely controlled by token holders. Fund transfers require governance proposals with 40M UNI quorum. The UNIfication proposal (Dec 2025) burned 100M UNI directly from treasury via this process.
Revenue Decisions
UNI holders control fee routing across V2, V3, and V4. The UNIfication proposal activated protocol fees and directed them to the UNI burn mechanism. Fee parameters can be adjusted by governance vote.
Fee Switch
ONProtocol fees active on V2 (0.05% of all pools) and select V3 pools. Fees accumulate in TokenJar and are burned via the FirePit mechanism. Unichain sequencer fees also feed into the burn.
Resources
Foundation Multisigs / Addresses
Primary Value Accrual
Deflationary supply reductionValue accrues through deflationary supply reduction as protocol fees are claimed by burning UNI via the FirePit mechanism.
Equity Statement
After UNIfication proposal passed, Labs turned off interface, wallet, and API fees. Revenue no longer flows to equity holders, labs interface fees are set to zero and protocol fees flow to the UNI burn mechanism controlled by governance.
Economic Rights
Value CapturePortion of swap fees, 85% of sequencer revenue, Protocol Fee Discount Auctions & Aggregator hooks go to UNI burns as of December 2025
Buybacks
N/ANo buyback mechanism is currently active
Dividends
N/ANo dividend or revenue distribution is currently active for Uniswap
Burns
ActiveProtocol fees accumulate in the TokenJar contract. Anyone can burn 4,000 UNI via the FirePit contract to claim accumulated fees. The 4,000 UNI threshold is adjustable by governance. A one-time retroactive burn of 100M UNI from the treasury was executed as part of UNIfication (Dec 2025).
Ownership
Raise History
2 rounds · $11m total| Date | Amount | Round | Valuation | |
|---|---|---|---|---|
| Feb 11, 2026 | — | — | — | |
| Aug 07, 2020 | $11m | Series A | — |
- Fundraising
- Equity
- Equity Revenue Capture
- No
- Associated Entities
- DAOFoundationDUNILabs
- IP & Brand
- Labs
- Domain
- Labs, DUNI