According to CoinMeta, the governance of Uniswap has activated the protocol fee switch on the v4 liquidity pool, which has led to an increase in protocol revenue. The fees collected are used for the buyback and destruction mechanism of the UNI tokens, rather than being directly distributed to token holders. According to verified records, governance proposal 100 of Uniswap received approximately 46.6 million votes in favor and about 1.27 million votes against it. This mechanism collects about one-sixth of the transaction fees into the tokenjar contract, which is used to purchase and destroy UNI tokens. Daily protocol revenue has increased from around $114,000 to about $325,000. This activation covers seven networks: Ethereum, Arbitrum, Base, BNB chain, Polygon, OP mainnet, and Robinhood chain. Although this is an important governance change, UNI holders have not received fee checks; this mechanism mainly focuses on the destruction of tokens and the capture of protocol value.