Governance FAQs
Answers to common questions about the UNI token, protocol fees, the UNI burn mechanism, and DUNI membership.
UNI Token
What is UNI?
UNI is the governance token of the Uniswap Protocol. For supply, distribution, and contract addresses, see the UNI token page.
Will the total supply of UNI ever increase?
While governance has the authority to mint up to 2% of total supply annually, governance has not exercised this authority to date. Any future minting would require a governance vote.
What is UNI's current circulating supply?
Total supply has been declining since the burn mechanism went live in December 2025. As of July 6, 2026, 892,876,000 UNI remains in circulation. You can review data on the protocol fee and UNI circulating supply via this Dune dashboard.
Protocol Fees and UNI Burn
Do UNI holders earn a share of protocol fees?
No. Protocol fees are only used to permanently burn UNI, reducing supply over time. UNI holders have no individual or pro-rata claim on protocol revenue and there are no direct distributions of any kind.
How does the burn mechanism work?
Protocol fees collected onchain are routed into a collector contract (TokenJar) on each active network. These fees are claimed by external participants, often called Searchers, who pay in UNI to receive them. The UNI they pay is then permanently burned, reducing total supply.
On which products and chains are protocol fees currently active?
Protocol fee rollout began in December 2025 with v2 and v3 on Ethereum mainnet. Protocol fees are currently active on all Uniswap v2 and v3 pools across the 12 chains listed in the UNI contract addresses tables. Any future protocol fee activation on a different Uniswap version or product (v4, UniswapX, etc.) requires a governance vote.
Participation and DUNI
What is DUNI, and how does it relate to UNI?
DUNI is Uniswap Governance's implementation of the Wyoming DUNA, a legal entity that represents UNI holders in the governance process. Notably, DUNI provides limited liability protections for its members. To be a member of DUNI, you must hold UNI tokens (more than 0 UNI) and engage in Uniswap Governance (for example, you delegate your votes, post a proposal, or vote on a proposal). For a full description of its structure and authority, see DUNI.
How do I use UNI to participate in governance?
UNI can be used to vote on proposals during active governance processes. In order to vote, UNI needs to be delegated, which you can learn more about in the guide to voting. For a breakdown of the full governance process, see Governance Process.