$UNI
Governance: UNI holders can vote on proposals to update the protocol, including fee changes and new token listings.
Liquidity provision: Users can provide liquidity to earn fees. There was also a liquidity mining phase where liquidity providers (LPs) received UNI rewards.

Governance rights
As the sole utility of the $UNI token, users holding the token can exercise voting power in the Uniswap governance system. This attracts individuals who are invested in the long-term success of the protocol and want a say in its future direction.

Potential fee-sharing
Discussions around fee-sharing with $UNI token holders hav generated interest among traders and investors seeking additional financial incentives. This could further drive demand for the token as it potentially o

The value created by Uniswap protocol enables decentralized and permissionless trading of cryptocurrencies without intermediaries. This offers greater asset control, and enhanced privacy/security. The AMM algorithm ensures fair pricing, while liquidity providers earn fees. Uniswap supports multiple blockchains, promoting accessibility and interoperability. It has democratized financial services and propelled DeFi growth.

Value accrual to token:
$UNI token holders do not receive any fees generated from Uniswap pools, but they do have governance rights that allow them to vote on proposals that impact the protocol's future. As the platform grows and becomes more valuable, demand for $UNI tokens may increase, causing their price to rise.

Value accrual to protocol:
Uniswap does not capture any additional value directed to its treasury since all fees go to liquidity providers. However, due to $UNI speculation

The business model for Uniswap protocol:

Revenue comes from: 
0.3% fee on trades in liquidity pools.

Revenue is denominated in: 
whatever assets are being traded.

Revenue goes to: 
100% of fees are directed to Liquidity Providers (LPs). Uniswap treasury does not generate income, and only holds $UNI tokens.