News · DeFi
A temperature check proposes activating v2, v3, and v4 protocol fees on Arc, routing proceeds through Wormhole to burn mainnet UNI.
Key point 1 of 3
01
A governance temperature check proposes turning on Uniswap v2, v3, and v4 protocol fees on Circle's Arc Layer 1 network .
Key point 2 of 3
02
Accumulated Arc fees will be routed through Wormhole NTT contracts to burn canonical UNI on Ethereum mainnet .
Key point 3 of 3
03
The rollout uses Uniswap's expedited process, bypassing RFC stage for a five-day Snapshot vote before an onchain ballot .
Context
Uniswap initiated protocol fee activations in late December of last year on Ethereum mainnet and has since expanded fee collection across eleven additional chains using TokenJar…
Why it matters
Arc liquidity pools across v2, v3, and v4 will allocate a portion of trading fees to a burn mechanism, allowing searchers to buy fee inventory by burning synthetic UNI.
What to watch
The outcome of the temperature check Snapshot vote and the deployment of remaining fee infrastructure contracts ahead of an onchain vote.
Sources
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