The Uniswap community approved a governance proposal to lay the groundwork for activating the "fee switch," which would redirect part of the protocol’s annualized fees of over $1 billion from liquidity providers to UNI token holders

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The Uniswap community has voted in favor of two governance proposals, including one laying the groundwork to activate the long-promised “fee switch.”

One of the most significant aspects of the governance decision is the advancement of the long-awaited “fee switch.” This would direct a portion of protocol fees, currently earned by liquidity providers, towards UNI token holders. This change has been eagerly awaited by the community, as earlier proposals to activate the fee switch were unsuccessful.