> ## Content Index > Fetch the complete content index at: https://blog.1token.tech/llms.txt > Use this file to discover other available public pages before exploring further. # Uniswap and dYdX Approve Fee Burn and Revenue Share Proposals - URL: https://blog.1token.tech/uniswap-and-dydx-approve-fee-burn-and-revenue-share-proposals/ - Published: 2025-11-20T17:55:31.000Z - Updated: 2026-07-22T08:53:56.000Z - Description: CW46 Uniswap proposed burning UNI tokens through protocol fees and treasury reduction to align governance incentives. dYdX approved a 75% revenue share for buybacks. Coinbase reopened token sales, starting with Monad. Meanwhile, Bitcoin DAT firms now trade below their BTC holdings. - Author: 1Token - Tags: Market Digest ## Uniswap $UNI and dYdX $DYDX fee burn Uniswap founder and CEO [Hayden Adams posted on X](https://x.com/haydenzadams/status/1987990314997739625?ref=blog.1token.tech) about his first proposal to Uniswap governance. At a high level, the proposal: 1\. Turns on protocol fees and uses them to burn UNI 2\. Sends [@unichain](https://x.com/unichain?ref=blog.1token.tech) sequencer fees to the UNI burn 3\. Burns 100M UNI from the treasury representing the protocol fees that could have been burned if fees were turned on at token launch 4\. Introduces Protocol Fee Discount Auctions, a new way to improve LP outcomes and internalize MEV to the protocol 5\. Introduces "aggregator hooks” which will turns Uniswap v4 into an onchain aggregator that collects protocol fees on external liquidity sources 6\. Focus Labs on driving protocol growth and adoption, including a contractual agreement to only pursue initiatives that align with Uniswap governance interests 7\. Moves Foundation employees to Labs with a shared goal of accelerating protocol growth, under a growth fund from the treasury 8\. Move governance-owned Unisocks liquidity to v4 on Unichain and burn the LP position See full proposal: [https://gov.uniswap.org/t/unification-proposal/25881](https://blog.1token.tech/crypto-quant-strategy-index-vi-sep-2025/) Meanwhile, dYdX also passed the proposal of protocol revenue sharing to (1) 75% revenue sharing to the Buyback Program (2) 5% to Treasury SubDAO and (3) 5% to MegaVault. See [https://www.mintscan.io/dydx/proposals/313](https://blog.1token.tech/crypto-quant-strategy-index-vi-sep-2025/) and [https://dydx.forum/t/drc-revenue-share-on-dydx/4702](https://blog.1token.tech/crypto-quant-strategy-index-vi-sep-2025/) ## Coinbase reopens token sales On November 10, Coinbase announced the launch of its token sale platform. The first sale will feature Monad, a layer-1 blockchain. This marks a major shift for U.S. retail investors, who have been without direct access to such sales for years. The platform will handle everything from the initial sale to secondary market listings on Coinbase’s exchange. The token sale will follow a “request window” system. Participants have one week to submit purchase orders for Monad’s tokens from November 17 to November 22\. Timing of submission within this window will not affect order priority, ensuring equal treatment for all participants. See announcement: [https://www.coinbase.com/blog/the-ideal-way-to-launch-introducing-token-sales-on-coinbase](https://blog.1token.tech/crypto-quant-strategy-index-vi-sep-2025/) ## BTC DAT companies' market cap below its BTC holding According to [https://www.coinglass.com/BitcoinTreasuries](https://www.coinglass.com/BitcoinTreasuries?ref=blog.1token.tech), major Bitcoin DAT companies like Strategy (formerly MicroStrategy), or Metaplanet (largest DAT in Japan) are traded below the value of its Bitcoin holdings, reflecting the fragile market conditions currently. ![](https://onetoken.feishu.cn/space/api/box/stream/download/asynccode/?code=OTI4YjgwNWFlMTEyYTEwZmYxNGY1OTA3ZjUzMTU0NGRfRWVmUzdDcnh4MDJrQkdZb2xlMGpvTFo4bDM0TE5kdWNfVG9rZW46WXZENGJsWlVab2ZqczV4VUpMUGMxcG51blRmXzE3NjM2NjA5OTA6MTc2MzY2NDU5MF9WNA) --- ## 1Token's Service Serving 80+ Clients worldwide, [1Token](https://1token.tech/?ref=blog.1token.tech)'s [Crypto PMS](https://1token.tech/products/portfolio-management?ref=blog.1token.tech), [RMS](https://1token.tech/products/risk-management?ref=blog.1token.tech), and [Portfolio Accounting Software](https://1token.tech/clients/fund-admin-auditor?ref=blog.1token.tech) has the unique trading know-how and technology capabilities to build: - **Front office** (portfolio managers and traders) to view live position and exposure, calculate trading PnL and historical performance. - **Middle office** (ops and risk) to maintain portfolios and API accounts, book OTC trades, monitor risk metrics and analyze VaR/STV, generate shadow NAV with investor subscription/redemption/dividend. - **Back office** (admin and auditors) to collect and [reconcile ](https://1token.tech/products/data-collection-reconciliation?ref=blog.1token.tech)trades, generate valuation and PnL reporting under FIFO/WAC tax strategy. 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