Uniswap governance is proposing to turn on protocol fees, which will be used to burn UNI tokens and send Unichain sequencer fees to the UNI burn. This move aims to align incentives and drive value for UNI holders, potentially making the token more attractive to investors. The proposal also includes burning 100M UNI from the treasury, representing past uncollected fees, and introduces new mechanisms to improve liquidity provider outcomes and internalize MEV.