Uniswap posted its biggest single-day Uniswap burn to date on September 4, taking $1.15 million worth of tokens out of circulation. The surge lines up with where trading has been concentrated on Robinhood Chain. Since its July launch, Robinhood Chain has recorded daily decentralized exchange volume of roughly $3 billion, with Uniswap accounting for up to 98% of that volume.
Last month, Uniswap’s governance expanded its fee-to-burn framework to Robinhood Chain, so trading activity there feeds into the model that buys back and burns Uniswap. Uniswap was also live on Robinhood Chain from launch, with v2, v3 and v4 active on day one. That concentration helps explain why the burn figure accelerated so quickly.
For now, the record stands: heavy trading activity on Robinhood Chain has coincided with a sharp rise in Uniswap burn volume.