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CoinVoice has learned that Dragonfly partner Omar Kanji stated, "After turning on the fee switch, Uniswap's current valuation is approximately 240 times the annualized fee (FDV of $5.4 billion / $23 million in annualized fees). Considering the allocation of 20 million UNI tokens this year (at the current price of $6.16, approximately $123 million), the protocol is expected to record a loss of about $100 million this year."