Uniswap Q1 2025: $115M in Reserves, But Bancor Lawsuit Looms. Photo by BeInCrypto Uniswap Labs permanently burned 100 million UNI tokens valued at $600 million on December 27. The move executed the on-chain portion of a governance plan designed to closely link the protocol’s revenue to the token’s value. UNI Rallies 6% After Labs Confirms Deflationary Pivot Uniswap Labs carried out the burn under “UNIfication,” a proposal introduced in November 2025 and approved with overwhelming support on Dec. 25, 20 ...