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Uniswap initiates a temperature check for the activation of v4 protocol fees, introducing a tiered fee controller system

According to official news, Uniswap Labs has released a temperature check proposal, suggesting the activation of protocol fees in the v4 pool. This proposal follows the rapid governance process previously approved by UNIfication and will directly enter a five-day Snapshot voting period, followed by on-chain voting.Due to the Hook architecture of v4 making fee settings more complex than v2/v3, the proposal has designed the V4 Fee Controller system, which includes two core contracts: V4FeePolicy calculates the fees for any pool based on governance rules, and V4FeeAdapter is responsible for executing governance overrides and collecting fees into TokenJar. Fees are calculated hierarchically based on the family of the pool: first checking the specific trading pair rate set by governance, then the family default rate, and finally the global default rate.This proposal aims to activate fees for three types of pool families across 11 chains including Ethereum, Arbitrum, Base, and BNB Chain: static rate pools without Hooks, CCA pools after continuous liquidation auctions, and aggregator Hook pools. The rates for aggregator Hook pools are adjusted by a 25x multiplier, with a default of 10 bp for non-Base chains (3 bp for stablecoin pairs) and a default of 3 bp for Base chains (1 bp for stablecoin pairs). All fees will flow into each chain's TokenJar, and the amount of UNI burned on L2 and Alt-L1 will be cross-chain bridged to the Ethereum mainnet and sent to the 0xdead address.The Snapshot voting window is from July 7 to July 12, and on-chain voting will start during the week of July 13. Since GovernorBravo limits each proposal to 10 actions, two on-chain votes will be submitted in parallel to cover all chains.

Analysis: Currently, only 65.5% of WLFI presale tokens have been transferred to the Lockbox contract for activation, and its TGE circulation may be significantly lower than expected

ChainCatcher news, according to on-chain analyst @ai_9684xtpa monitoring, currently out of the total supply of 100 billion WLFI tokens, only 20% is clearly unlocked at TGE from the public sale rounds one and two, with a total of 25 billion tokens sold in the public sale.Assuming all participants have transferred their tokens to Lockbox and activated them, the TGE circulation will be 5 billion tokens (5% of the total supply), which, based on the current Binance contract price of $0.3858, would result in a sell-off of $1.93 billion.However, Tokenomist found that the corresponding share of early presale users in the WLFI smart contract is only 1.843 million tokens (with 6.57 billion tokens not accounted for). If this is true, the TGE circulation under the same conditions will decrease to 3.68 billion tokens, resulting in approximately $1.42 billion in sell-off.As of 8 PM tonight, the WLFI Lockbox contract has received a total of 16.395 billion tokens, meaning only 65.5% of the presale tokens have been activated. Therefore, the actual TGE circulation will ultimately depend on the total number of tokens deposited by investors.Based on the current Binance contract price of $0.3858, the FDV of WLFI is $38.58 billion, which is 1.62 times that of LINK's FDV. DWF Labs previously invested $25 million to acquire 250 million tokens at a cost of $0.1, and is also a market maker at USD1, thus DWF Labs will become the market maker for WLFI tokens.
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