The final vote on the proposal to "destroy 100 million UNI" is imminent: the largest short seller of UNI on-chain has reduced its position by 40% to l...
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TL;DR
The final vote on Uniswap's proposal to burn 100 million UNI and enable fee switches is imminent, causing significant on-chain trading activity. A major short seller reduced positions by 40%, while a long whale exited at breakeven, and market predictions for the proposal's success surged to 85%. UNI price briefly rose 10% in response.
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UniswapYield FarmingDeFiAMMUNIgovernance voteon-chain tradingcryptocurrency
According to Mars Finance, on December 19th, possibly influenced by the final voting stage of Uniswap's "Unification" proposal, several on-chain traders began placing bets. HyperInsight monitoring shows that the largest short whale of UNI, "Shanzhai Air Force Head," has cumulatively closed over 40% of its UNI short positions since 1 PM yesterday, reducing its current position size to $2.79 million, with a floating profit of $1.22 million (437%), an average price of $7.46, and a liquidation price of $5.19. It's worth noting that "0x413c," a whale that had been long UNI since the 17th, boldly added to its position at an average price of $4.9 two hours before the final vote, with its floating profit peaking at over 50%. However, facing this morning's price decline, it ultimately chose to exit at breakeven, ending this round of operations with a small profit of approximately $36,000. According to on-chain data, immediately after the news was released, Polymarket predicted that the "Yes" option in the market regarding whether the Uniswap protocol fee switch would be enabled before December 31, 2025, surged by 69%, with over 20 addresses buying this option, and the current implied probability rising to 85%. As of 4 PM yesterday, the "Unification" proposal submitted by Uniswap founder Hayden Adams has entered the final governance voting stage. Voting will begin at 11:30 AM (Beijing time) on December 20th and end on December 26th. If the proposal passes, after the 2-day lock-up period, it will immediately take effect: 100 million UNI will be burned; the mainnet v2/v3 fee switch will be enabled, and related transaction fees will be used to continuously burn UNI. Affected by this news, UNI briefly surged by 10%.