Standard Chartered's global head of digital assets research, Geoff Kendrick, said the bank's $100 end-2030 target for UNI may now be too low as Uniswap's fee-funded token burns accelerate, with activity on Robinhood Chain becoming a major driver. Uniswap protocol revenue averaged $244,222 a day between Jul. 27 and Aug. 12, up from $99,770 a day in the prior 17-day period, according to DefiLlama. Under UNIfication, the December 2025 upgrade that directs protocol fees into programmatic UNI buybacks and burns, that later run rate annualizes to $89.1 million, close to the $90 million figure Kendrick had cited. At UNI's current price of $3.53, that would retire about 25 million tokens a year, or roughly 4% of the 624.2 million circulating supply. Kendrick said that pace is "clearly unsustainable," adding that even at his year-end 2026 target of USD6.50 the annualized burn rate would still be 2.2%, before any additional partnerships like Robinhood. Over the past seven days, Uniswap's v3 deployment on Robinhood Chain produced $925,054 of the protocol's $1.55 million in revenue, or 60%, while Uniswap represented $439.3 million of the chain's $511.1 million in 24-hour DEX (decentralized exchange) volume, or 86%. Uniswap Labs deployed v2, v3, v4 and UniswapX on Robinhood Chain on Jul. 2, calling itself the chain's "primary public AMM" (automated market maker). Two governance proposals executed on Jul. 17 also expanded protocol fees and activated v4 fees, meaning the revenue jump was not solely due to Robinhood Chain. The figures also highlight differing ways to assess the chain's traction: Kendrick cited Entropy Advisors as putting Robinhood Chain's total value locked just under USD1bn and called it the fastest-growing chain of all time by that measure, while DefiLlama showed $506.97 million in total value locked and $1.55 billion bridged. UNI was down 6.7% over 24 hours and 13.4% over the week at $3.53, with a $2.2 billion market capitalization, according to CoinGecko. Standard Chartered initiated coverage on Jun. 15, when it said UNI could gain 40x from the $2.50 level cited in that note.