so uni is going to use 16%ish of its $2.8b in fees to buyback and burn $UNI. so you have about $450m in new buy pressure for $UNI. this doesnt include the teh MEV internalization for fees which could be significant too.
anyways $UNI trades at $4.9b circulating and $7.67 fdv. so imo the swich makes the $UNI seem reasonably valued
fwiw $PUMP buys back about the same amount of its token and trades at 1/3 of the circulating valuation a little over 1/2 of the fdv.
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