Analysis: The launch of Unichain by Uniswap could potentially lead to an annual loss of approximately 400 to 500 million dollars for Ethereum network validators

According to Forbes, Uniswap Labs recently announced the launch of its new blockchain, Unichain. Uniswap has long been a key driver of activity on the Ethereum mainnet. As Uniswap transitions to its own chain, validators on the Ethereum network could lose about $400 million to $500 million in revenue per year.

But more serious than this economic loss is that it threatens the basic narrative of Ethereum as a deflationary currency. Uniswap's general router is the largest account consuming gas fees, accounting for 14.5% of Ethereum's gas fees, equivalent to destroying $1.6 billion worth of Ethereum. This means that the effect of the destruction mechanism will be weakened, further undermining Ethereum's economic position.