The debate about UNI’s fee switch largely misses the forest for the trees. We are seeing in real time how pro-crypto regulatory regimes have reversed protocol level value accrual stances which ultimately benefit tokenholders. This is a very good step forward for the entire DeFi industry and sets precedents for future protocols to follow. Over time after all the insider selling is phased out, liquid market participants will be able to reliably value these protocols on a fundamental basis and our crypto markets will look a little less like a casino and a little more like traditional equity markets.