#Uniswap费用机制升级 The details of the Uniswap fee mechanism upgrade are worth paying attention to. From on-chain data, such protocol-level adjustments are usually accompanied by a re-pricing of governance tokens—proposals to burn tokens essentially change the value distribution model, shifting from fee accumulation by liquidity providers to direct returns for token holders.

Key points to observe: First, the change in fund flow after the fee structure adjustment, requiring tracking of LPs' inflows and outflows and the reactions of large holders; second, such upgrades often trigger short-term arbitrage opportunities, especially at the AMM contract level; third, comparing fees with other mainstream DEXs to reshape Uniswap’s competitiveness.

It is recommended to focus on the on-chain trading volume and liquidity depth within the first 72 hours after the upgrade, as this can more objectively reflect the market’s actual response to the new mechanism, rather than just sentiment. Also, keep an eye on the actions of large wallet addresses during this period, as they can often provide early signals of institutional strategies.