Uniswap’s fee switch proposal, designed to boost its token’s supply-demand dynamics via token burns, has passed a community vote threshold and is set to take effect this week. The highly anticipated Uniswap protocol fee switch, dubbed “UNIfication,” is set to pass and go live later this week, having reached the 40 million vote threshold needed to trigger one of the biggest upgrades in the decentralized exchange protocol’s seven-year history. As of early Monday, nearly 62 million votes have already been cast in favor of the UNIfication governance proposal since voting opened on Dec. 20, with voting set to close on Thursday, Christmas Day. Uniswap Labs CEO Hayden Adams said on Thursday that a successful vote would follow a two-day timelock period in which Uniswap v2 and v3 fee switches would flip on the Unichain mainnet, triggering the burning of more Uniswap (UNI) tokens. Read more
Putting real-world assets onchain opens up new markets, increases capital velocity and democratizes access to finance, advocates say. Tokenization will transform the financial industry faster than digital technology disrupted legacy media, such as print newspapers, physical copies of music and other analog formats, according to Keith Grossman, president of crypto payments company MoonPay. “While many feared digitization would destroy media, what it actually did was force its evolution,” Grossman said, adding that real-world asset (RWA) tokenization, the process of representing traditional assets onchain, will force traditional institutions to adapt. He added: Financial incumbents like Citi, Bank of America, JPMorgan Chase and others will continue to exist in a different form, Grossman said, much like media companies continued to exist after the shift to digital distribution in the late 1990s and early 2000s, which disrupted business models that worked for decades. Read more
Bitcoin is a decentralized software protocol that has a collective action problem, unlike centralized companies, according to Jameson Lopp. Migrating Bitcoin (BTC) to post-quantum standards will take at least 5-10 years, according to Bitcoin core developer and co-founder of crypto custody company Casa, Jameson Lopp, who weighed in on the ongoing quantum computer debate. Lopp agreed with Adam Back, the CEO of crypto infrastructure company Blockstream, that there is no near-term threat to Bitcoin from quantum computers. Lopp said in an X post. We should hope for the best, but prepare for the worst,” he added. In a separate post, he said the Bitcoin protocol is more challenging to upgrade to post-quantum standards than centralized software because of its distributed consensus model. Read more
Bitcoin price expectations diverged into the weekly close as $150,000 targets met calls for a drop to levels not seen in over a year. Bitcoin (BTC) circled $88,000 on Sunday as traders braced for fresh volatility into the weekly close. Key points: Bitcoin market participants have mixed views over short-term BTC price action with the market stuck below $90,000. Read more