UNI Burn Set to Grow as Uniswap Votes on V4 Fees

Uniswap governance opened voting on activating protocol fees for selected v4 pools for the first time, alongside a measure extending v2 and v3 fee collection to Robinhood Chain. Both onchain votes run through July 26 under the expedited governance path.

The v4 proposal would switch on fees across static-fee pools, continuous clearing auction pools, and aggregator-hook pools spanning Ethereum, Arbitrum, Base, BNB Chain, Polygon, Optimism, and Robinhood Chain. A second proposal covering five remaining chains follows, since GovernorBravo caps proposals at ten onchain actions.

Founder Hayden Adams, who submitted the Robinhood Chain measure, wrote that the impact on the burn should be substantial given current volumes. Deployments on that network passed $6 billion in cumulative swap volume by July 10, after the chain pulled roughly $3.1 billion in DEX volume during its opening week.

Fees from both proposals feed the burn mechanism created by UNIfication, the December overhaul that passed with 99.9% support and torched 100 million tokens from the treasury. The rollout now spans 11 chains, and the protocol burned a record 186,000 UNI in a single day last month.

US Regulators Miss GENIUS Act Deadline for Stablecoin Rules

Federal regulators blew past the one-year rulemaking deadline written into the GENIUS Act, leaving the principal packages from the OCC, FDIC, NCUA, and Treasury stuck at the proposal stage. Several remain open for public comment, making completion by the statutory date impossible.

The slip does not push back the law's January 18, 2027 effective date, compressing the runway for issuers preparing around rules that could still change. Much of the framework is already statutory, mandating one-to-one reserves, published redemption policies, and monthly disclosures.

France Orders Providers to Block Polymarket Before WC Final

France's gambling regulator ordered internet providers to cut access to Polymarket, escalating restrictions imposed in November 2024. The ANJ said the platform promotes an illegal betting offering and could expose users to significant losses, with some wagers potentially manipulated.

The timing stings French traders, landing days before the World Cup final settles Polymarket's largest market ever at more than $4 billion in volume. France joins the Czech Republic, Portugal, and Brazil in restricting the platform, which drew 205,057 unique French visitors in June.

Cardano Hands Core Development to Outside Teams

Input Output began handing control of Cardano's Haskell node, Plutus platform, Daedalus wallet, and Hydra scaling technology to external specialist teams including Se7en Labs and Teragone. The handover starts in August and runs into 2027 as the final stage of the Voltaire era.

The plan calls for independent teams to maintain at least three implementations in Haskell, Rust, and Go under community oversight. The restructuring lands as ADA trades near 16 cents, roughly 95% below its 2021 peak, with network value locked at just $70 million.

Data of the Day

Prediction markets notched a record quarter at $113.8 billion in notional volume, according to CoinGecko, even as spot trading across the top ten exchanges fell 27.9% to $1.95 trillion. Perpetual futures volume slid 10% to $12.7 trillion over the same stretch.

Monthly activity peaked in June alongside the World Cup kickoff, hitting an all-time high of $50.7 billion. Kalshi held a 58.9% share while Polymarket slipped from 35.8% to 30.2%, as total crypto market capitalization dropped 12.6% to $2.1 trillion. See our prediction market statistics for the full picture.

More Breaking News

• CryptoQuant said Strategy still needs systematic rules for timing bitcoin purchases and selling into strength, even after Michael Saylor's firm doubled dividend coverage to 29 months.
• Galaxy Digital struck a $70 million deal to rename Texas Tech's football stadium over 15 years, backing its pivot toward AI and high-performance computing infrastructure in West Texas.
• ECB board member Piero Cipollone warned that wider stablecoin adoption could erode commercial banks' retail deposit base, arguing the digital euro would keep lenders central to payments.
• A Trezor executive pushed back on ZachXBT's claim that hardware wallets are complete garbage, calling them the strongest self-custody option for average holders.
• The FTX Recovery Trust will distribute $900 million to creditors from July 31, its fifth payout round, bringing total repayments to roughly $10 billion since the 2022 bankruptcy.
• MegaETH is sunsetting its Mega Mafia accelerator after two cohorts, conceding most successful incubated apps left for rival chains despite raising roughly $80 million collectively.
• Moonshot AI's Kimi K3 sent chip stocks tumbling, with Taiwan's benchmark falling over 6% after the open-weight model scored alongside frontier Western rivals at a fraction of the price.
• ESMA added 14 crypto firms to its MiCA register including Ripple Payments Europe, bringing licensed providers to 294 as the pace of MiCA authorizations slows.

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