As the crypto market enters the last week before Christmas, some major altcoins are preparing for governance votes and tokenomics adjustments that could significantly change their long-term supply.
From Uniswap considering activating transaction fee sharing to Hyperliquid's proposal to burn billions of USD worth of tokens, the coming days will be crucial for many ecosystems.
Top 4 altcoins with significant news this week
Uniswap (UNI), Hyperliquid (HYPE), Aster (ASTER), and Huma Finance (HUMA) all have significant protocol changes scheduled to take place from December 22 to December 25.
This places token holders and validators at the center of important decisions as 2025 draws to a close.
The vote on Uniswap's Fee Switch approaches the Christmas deadline
Voting for Uniswap's UNIfication proposal will end on December 25, which could end years of debate about protocol fees and how to create value for UNI holders. Uniswap founder Hayden Adams also confirmed that the voting process for the UNIfication proposal has now begun.
This proposal, jointly developed by Uniswap Labs and the Uniswap Foundation, will activate fee collection across the Uniswap ecosystem. At the same time, 100 million UNI will be burned from the treasury – this amount reflects the number of tokens that would have been burned if the fees had been activated from the beginning.
According to the proposal summary, voting "Agree" aims to:
Activate Uniswap fee collection and use fees to burn UNI
Transfer sequencer fees on Unichain to this burning mechanism
Build a protocol fee discount auction system (Protocol Fee Discount Auctions – PFDA)
Develop composite hooks for Uniswap v4
Burn 100 million UNI from the project treasury
Concentrate all Labs resources on protocol development
Transfer governance-owned Unisocks liquidity to Unichain v4 and burn LP positions
Uniswap Foundation confirms strong support momentum before transitioning to the on-chain voting phase, with the content:
"Last month, we submitted a governance proposal to activate protocol fee collection and adjust benefits within the Uniswap ecosystem… UNIfication passed the snapshot round with over 63 million supportive votes. Tomorrow, the proposal will move to on-chain voting," Uniswap shared on X (Twitter).
In this context, UNI – the token of Uniswap, surged 30% on Sunday. At the time of writing, UNI is trading at 6.21 USD, up over 15% in the last 24 hours.
If approved, the proposal will have a two-day lock period before execution, after which the UNI burn process and fee sharing activation will occur immediately.
Hyperliquid validators vote on burning 1 billion USD HYPE
Hyperliquid's governance process will also come to a conclusion on December 24, when validators complete voting to officially confirm nearly 1 billion USD of HYPE tokens from the Support Fund as permanently burned. If successful, it will eliminate over 10% of the total circulating supply of HYPE and the total common supply.
"Hyper Foundation proposes a community vote to officially confirm that the HYPE in the Support Fund has been burned, permanently removing this token from circulation supply and total supply," Hyper Foundation explained.
This Support Fund is currently holding 998,965,886.59 USD, primarily in the form of tokens held at an address controlled by the system.
These tokens are held at a system address with no private key, meaning they cannot be retrieved unless there is a hard fork. This vote is to establish community consensus, committing that these tokens will never be reused.
This proposal reinforces Hyperliquid's reputation as one of the most robust and distinctive growth protocols in the crypto market, as it does not seek venture capital, and all revenue is used to buy back tokens.
With less than two days left until the voting ends, HYPE token is currently trading at 24.92 USD, up over 3% in the last 24 hours.
On December 22, 2023, Aster will reduce the issuance of new tokens and announce a new reward program called Crystal Weekly Drops worth 12 million USD.
"We are very excited to launch 12 million USD Crystal Weekly Drops — Aster's new weekly cash reward program after Double Harvest," Aster shared.
Phase 1 will take place from December 22 to December 28, 2023, with a total prize pool of up to 2 million USD distributed based on perpetual trading volume across the platform.
This issuance adjustment shows that Aster aims to tightly control supply and balance rewards for users with long-term sustainable development.
Huma Finance distributes Vanguard utility badges
Huma Finance will participate ahead of the holiday on December 24, 2023, when distributing the Huma Vanguard badge to eligible HUMA stakers.
Huma also opened an additional short period for those who missed the opportunity to register for staking for airdrop season 2 to supplement and complete the conditions before December 21, 2023.
Overall, the flurry of events related to governance voting, token burning, reducing issuance, and increasing staking incentives makes this pre-Christmas period the most active time for altcoin activities.
Although token prices may not immediately reflect this, decisions made in the coming days will impact supply, reward models, and strategies of protocols at least until 2026. This makes UNI, HYPE, ASTER, and HUMA very attractive to the retail investor community as 2023 comes to a close.
