Fee burns roughly match the quarterly treasury payouts.
UNI governs Uniswap: 620.28M coins circulate, 70% of the 887.53M left after burns. The DAO treasury holds the rest.
Sell pressure. Nothing is minted. The only new supply is the growth budget: 5.00M UNI a quarter from the treasury to Uniswap Labs, last on Jul 14 2026, next unlocked Oct 1 2026.
Buy pressure. Fee vaults open only when UNI is destroyed: 5.71M UNI burned in 90 days, plus 113K sent back to the treasury. About 4.07M burns expected next.
Net. Net, supply shrank about 0.13% and should grow about 0.15% next.
No new UNI was made: supply still reads exactly 1B. The DAO keeps the right to mint up to 2% a year (about 20M UNI) by vote, and that right has been open since Jan 1 2024, but it has never been used and no vote to use it exists.
The DAO pays Uniswap Labs a growth budget of 5M UNI each quarter out of its treasury, through a vesting contract set up by the UNIfication vote. The July slice left the treasury on Jul 14 2026. The next slice unlocked on Oct 1 2026 and can be claimed now; the one after that is Jan 1 2027. 25M UNI is approved in total.
The DAO treasury holds 267.25M UNI — the only coins not counted as circulating. Apart from the 5M growth slice, nothing left it this window. Labs' growth wallet holds about 12.0M UNI, the old airdrop contract 12.5M and a DAO-linked multisig 20K; all of these already count as circulating. The unused 2% mint right is capacity, not a holding.
No estate, trustee or long lock pays UNI out. The team and investor vesting from 2020 ended in 2024.
Part of every swap fee goes into a vault on each chain, and it can only be taken out by destroying a fixed lot of UNI. So traders buy UNI and send it to the burn address: 5.71M UNI in 90 days, worth about $30.2M. Fees switched on for v4 pools and Robinhood Chain on Jul 27 2026, and burning nearly tripled in dollars after that. With UNI now near $8.94, the same fees buy fewer coins, so we expect about 4.07M next.
No fee is destroyed directly. The fee-funded burn works by buying UNI first, so it sits in the buyback row above.
On Jul 30 2026 a DAO-linked multisig sent 113,138 UNI back into the treasury, taking those coins out of circulation. It was a one-off with no schedule, so nothing is expected next.
UNI has no staking or lock contract. A forum idea to add staking was posted in June 2026 but never went to a vote.
Two sides: how much people want UNI right now, and how much buying could come later.
This part is based on social media. It shows how hot UNI is right now. A better rank means more people are talking about it.
Today, people are talking about UNI for two reasons:
On Oct 9 2026 Uniswap Labs said Unichain will move to OP Enterprise: testnet on Oct 13 and mainnet on Oct 29 2026. Balances, contracts and Uniswap apps stay the same, and later users can move ETH between OP Stack chains without a bridge. People ask whether this brings more trading to Uniswap or just changes who runs the chain.
On Oct 7 2026 Stove Finance put its tokenized U.S. and South Korean stocks on Uniswap through UniswapX, where market makers compete to price each trade. Uniswap has handled more than $4.6 trillion in trades since it began. People ask whether stock trading on Uniswap will add real fees for UNI holders after the fee switch.
Checked Oct 10 2026
By the law of supply and demand, Uniswap's long-run signal is positive (Oct 11 2026, score 7.5/10). New supply: +0.15% in the next 90 days. Demand: strong (4/5). Uniswap's price drivers: 1 ▲ price up, 1 ▼ price down.
Hyperliquid reads better today: 8.5/10 vs 7.5/10 for Uniswap on Oct 10 2026. Both add little new supply, +0.13% vs +0.15% in 90 days. The gap is demand, very strong for Hyperliquid (4.5/5) and strong for Uniswap (4/5). Our supply-and-demand read for Uniswap stays positive.
Not yet; the UNI ETF is still pending. CME UNI futures come first, starting Oct 19 2026, 9 days from now. Futures give big traders a new way to trade UNI, while the DAO keeps paying out from its roughly 260M UNI treasury. That leaves Uniswap's long-run signal at positive, by supply and demand.
At $100, Uniswap would be worth about $62B in total — about 11 times its $5.54B market cap today (Oct 11 2026, about $8.93 a coin). Uniswap's supply also grows +0.60% in the next year, so every extra coin needs buyers too. That leaves Uniswap's long-run signal at positive, by supply and demand.
Uniswap's signal is positive for now. Uniswap's signal would turn if new supply jumps (today +0.15% in 90 days), or demand falls from strong, or DAO treasury keeps pointing down. The next date on Uniswap's calendar: Oct 19 2026 — CME UNI futures start.
Uniswap sits at 7.5/10 today (Oct 11 2026): supply 3.5/5, demand 4/5. One more year adds +0.60% to Uniswap's supply. Long-run signal: positive.
By the law of supply and demand, the better time to buy Uniswap is when its new supply is low, demand is high and its price drivers point up. Uniswap today: +0.15% new supply in 90 days (steady), demand strong (4/5), drivers 1 ▲ / 1 ▼.
Right now 3 things drive Uniswap's price (1 ▲, 1 ▼). ▼ DAO treasury: DAO treasury holds roughly 260M UNI and keeps paying some out. ▲ Fee switch votes: Since Dec 25 2025, DAO votes have only widened the fee switch. • ETF and futures: CME UNI futures start Oct 19 2026; the ETF is still pending.
Side by side on Oct 11 2026: Uniswap at 7.5/10 with a positive signal, Bitcoin at 8.5/10 with a positive signal. By supply and demand, Uniswap is the weaker of the two.
Every answer here applies basic economic theory — the law of supply and demand — to this coin's data. It is not financial advice. How we read every coin →
We look at two things, half each: supply and demand. Fewer new coins mean less selling pressure. A meme coin scores 1.5 at most on supply: its team got its coins for free, so no new supply does not make it safe. We also show each coin's age, with a warning when it is younger than 1 year. Demand looks at how much people want the coin now and how much buying could come later. Price Drivers (Beta) are the 2 or 3 things that can move one coin's price that supply and demand miss; they have no score. UNI supply grows +0.15% in the next 90 days, so it shows in red: more UNI reaches the market than is removed. Zero or falling supply is always green, any growth is red.
One email before each big supply event, and the day our verdict changes. Nothing else. You can watch 2 coins for free.
More coins: BCH · LTC · AVAX · Which crypto to buy now → · Embed this coin
Deep research weekly. My real holdings monthly.
Was this page useful?