Emperor Osmo
DeFi Research, Blockchain Metrics, Ex-Osmosis/Artemis
Uniswap's UNI has become a reflexive DeFi play in which volume drives fees, fees drive burns and burns shrink supply. The fee switch burns about $598,000 of UNI a day, roughly $220 million a year or 5.5% of supply value, from V3 alone. V4 already generates $10 million+ a day in fees, 12x V3, which is where the setup becomes asymmetric. There is no supply overhang and fundamentals are improving. x.com
Uniswap should keep winning trades as the market heats up, turning more of that activity into UNI burns. It generated $15.6 million in protocol revenue over the last 30 days, $8.9 million of it from Robinhood Chain alone. The loop: trading makes providing liquidity worthwhile, more liquidity gives traders better prices and attracts more trades, and where protocol fees are enabled, those fees feed UNI burns. x.com
Uniswap's protocol fees now have a specified path to UNI burns: fees flow into TokenJar and UNI is burned through Firepit to release those assets. Its multichain liquidity and $79.47B in 30-day DEX volume favor a larger 60% long-term weight versus AERO, despite a higher roughly 35.8x annualized revenue multiple. Further fee capture across chains and v4 pools could add growth, but protocol revenue is not net holder returns. x.com
Low liquidity could cause sharp downside wicks in altcoins over the coming days. Uniswap at $3-6 and Zcash near $800 are levels of interest for bids. Trader_XO sees Zcash near $800, a call that holds here too; the level is expected before year-end. x.com x.com x.com
Uniswap's revenue to UNI holders is accelerating: September is on track to be its highest holder-revenue month ever, with $15M in UNI buybacks. x.com
Uniswap has the best DEX liquidity, as the Binance hacker's UNI sales there show. UNI looks bullish once the hacker finishes selling. x.com
Uniswap's UNI can get back above $10 soon as token burns accelerate. Per @haydenzadams, burns have jumped after RH and the v4 proposal: the third-highest burn day ever destroyed 106,000 UNI, equal to $170 million of annual burn at current prices, and the highest on a normal market day. x.com
Uniswap is becoming the liquidity layer for stablecoins, processing more USDC volume than every other DEX combined. UNI broke out after testing patience for months and ripped through $6. x.com
UNI will be the biggest beneficiary of the SEC allowing tokenized stock trading and is about to become a hot token everyone chases. x.com
Live CME futures let institutions price Uniswap's DeFi liquidity and fee narrative with regulated hedging. Standard 10,000-UNI and Micro 1,000-UNI cash-settled contracts began trading October 19 after the rumor-driven selloff. Asset managers and market makers can now hedge or run basis trades; deeper secondary liquidity is a multi-month possibility, not guaranteed buying on launch day, and risk-off markets can still overwhelm the event. x.com
Stock trading could make Aerodrome's fees less volatile and expand its valuation multiple. On a longer-term fundamentals view, a rebound from drawdowns in majors and most alts offers over 2-3x; volume across chains, stocks and FX plus wallet share versus Uniswap offer over 3-5x, potentially much higher. Predictive liquidity, burns and partnerships add an innovation premium. Whatever happens before the merge, strong fundamentals point to a clearing rather than a sell-the-news event. x.com x.com … Show more