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Monday was a good day for DeFi. A good day for Ethereum.
Uniswap did the right thing. It kept a promise. It restored something we’ve been missing for three years:
Belief.
Since 2022, the nihilist crypto narrative has been winning:
- everyone’s here to f**k you over
- no long-term assets, only trades
- every founder rugs
- fundamentals are a meme
No crying in the casino.
They had the receipts.
SBF, Do Kwon, Mashinsky. DAO utopianism. NFT mania and collapse. Rug after rug. The cynicism was earned.
And while we tried to rebuild, even our golden child DeFi protocols seemed to abandon us.
Uniswap – when fee switch?
Silence.
Uniswap Labs ships a wallet to collect fees for itself.
When fee switch?
“Never.”
They said UNI was just a long rug by Hayden & the VCs. Why share fees with holders when you can dump UNI and keep the revenue?
The counter-take was always: regulators, Gensler, bad environment, timing.
Nihilist crypto called it cope.
And as the months dragged on, even believers lost faith.
Then on Monday, Uniswap flipped the script:
The fee switch is ready.
- All protocol fees to UNI burn
- Labs + Foundation aligned
- 100m UNI burn to make up for lost time
Nihilist crypto was wrong.
The OG DeFi protocol chose the long game over the easy money.
Delayed by Gensler. Not defeated.
UNI just injected a little belief back into our jaded souls.
I needed it. You probably did too.
Some founders are still here for the long game.
So are some investors.
Bullish Uniswap.
Bullish DeFi.
Bullish Ethereum.
Bullish every crypto project playing the long game.
Believe in something.
