The Uniswap protocol fee switch proposal, known as UNIndication, is on the verge of approval after surpassing the required quorum in on-chain governance voting. As of December 22, the proposal has garnered over 69 million UNI votes in favor, with fewer than 1,000 votes against. The voting period remains open until December 26, but the proposal is already in ACTIVE status, indicating strong community support. If approved, the proposal will activate the Uniswap protocol fee switch and initiate a UNI buyback and burn mechanism funded by protocol and Unichain sorter fees. The implementation of the relevant contracts is anticipated to occur later this week, marking a significant development for the Uniswap ecosystem.