Comparison of the new Uniswap proposal Pros: Value deflation: Continuous burning + retroactive burn, turning UNI from a 'pure governance token' into a 'real yield asset.' Ecosystem growth: Labs focusing on protocol development, L2 fee returns like Unichain, attracting more TVL. LP-friendly: Mechanisms like PFDA may offset some fee losses or even increase net returns. Potential risks: LP capital outflow: Fee diversion reduces LP appeal, shifting to other DEXs. Voting uncertainty: Requires DAO majority approval; if major holders oppose, it could be delayed.