# Why did UNI rise 21% this week? Two upgrades completely changed the game.

Uniswap has surged against the trend in the bear market, becoming the winner among the Top 30 coins this week. This is not due to speculation, but rather two substantial network upgrades that have led the market to reassess the value of this DeFi big brother.

**First Wave: Continuous Liquidation Auction Mechanism Online**

Uniswap has launched "continuous clearing auctions," which essentially builds a permissionless token auction protocol. What does this mean? In the future, new tokens will no longer be a black box operation; the price discovery in the early on-chain market will be more transparent and stable. This is a demand that the DeFi community has been calling for a long time—finally, someone has done it. For the long-term fundamentals of UNI, the improvement in transparency directly corresponds to an increase in trust.

**Second Wave: UNIfication Proposal Launch Buyback**

The protocol fees accumulated by Uniswap are now being used to buy back UNI tokens, which is a classic deflationary logic. Controlled supply + cash flow support, the token's attractiveness instantly skyrockets. For token holders, this signal is very clear— the team is taking concrete actions to maintain the token's value.

**Why are these two things so crucial?**

The advantages of Uniswap are originally the network effects (the deepest market liquidity and the most users), and these two upgrades are reinforcing this moat. One addresses market fairness, and the other addresses token incentives, both of which are core logic for long-term bulls. In a macro-pressured environment, such substantial product iterations often attract institutional attention, no wonder UNI led the rise this week.