Golden Finance reports that Uniswap Labs recently announced the launch of its new blockchain Unichain, and Uniswap has long been a key driver of Ethereum mainnet activity. Validators on the Ethereum network could lose around $400 million to $500 million in annual revenue as Uniswap transitions to its own chain. But more serious than the financial damage, this threatens Ethereum’s fundamental narrative as a deflationary currency. Uniswap’s universal router is the largest account consuming gas fees, accounting for 14.5% of Ethereum’s gas fees, which is equivalent to destroying $1.6 billion worth of Ethereum. This means that the effectiveness of the burning mechanism will be weakened, further weakening Ethereum’s economic status.