The on-chain voting results for UNI have been finalized—62 million votes in favor against 740 votes opposed, giving this governance proposal an overwhelming majority with almost no suspense. The destruction and fee switch mechanism will officially go live and be enforced in the early hours of December 29.

The core content of this proposal is not complicated: 100 million UNI tokens will be permanently destroyed, and 0.05% of the fees generated from each transaction on the platform will be used for buyback and destruction. Based on the current trading volume of 80 trillion per year, this wave of destruction pressure will continue to impact the market.

The high consistency in voting reflects the community's broad recognition of the token deflation strategy. However, from a deeper perspective, this proposal's execution also exposes an interesting phenomenon—project teams often tend to use short-term narratives such as burning and buybacks to respond to market sentiment when faced with value fluctuations.

In contrast, the logic of stablecoins is completely different. Stablecoins based on on-chain over-collateralization and real-time transparent reserves do not rely on any governance voting or market sentiment for their stability mechanism. For example, stablecoin systems that anchor real-value assets like BTC and TRX have algorithms and mechanisms that ensure stability—there is no need to wait for the next proposal, nor will uncertainty arise due to voting delays.

Two different paths are gradually emerging: one is a cycle of continuous governance adjustments, burning to pump the price, and waiting for the next proposal; the other is a sustainable ecosystem built on transparent reserves and an algorithmic stability foundation. As UNI continuously adjusts the rules to enhance its value, the decentralized underlying infrastructure has already fulfilled its mission – to become an immutable, permanently transparent financial cornerstone.