Uni Giveth, and UNI Taketh Away?

UNI is largely valued by the market’s perception of the protocol’s ability to extract value from the network. Turning on the fee switch will add certainty to that expectation and pull forward cash flows, but also likely reduce market share in the future. The network does not rely on the token and Uniswap Labs is well funded, so stakes for the network are fairly low.

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