Uniswap Labs to institute 0.15% fee on select assets and frontends

Traders using frontends built by the Uniswap Labs development team to interact with its DEX will be subject to a 0.15% fee starting Tuesday

article-image

DIAMOND VISUALS/Shutterstock modified by Blockworks

share

Traders who utilize frontends built by the Uniswap Labs development team to interact with the Uniswap DEX will be subject to a 0.15% fee starting Tuesday.

Uniswap founder Hayden Adams announced the fee in an X post today, framing the charges as a way to fund ongoing development. The fee will only apply to the Uniswap web app and the Uniswap.org frontend. 

Loading Tweet..

Assets subject to the fee include “[ether] ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, XSGD,” and both the input and output tokens must be among those subject for the fee to be collected. 

According to info.uniswap.org, the DEX accounts for $2.7 billion in total value locked, and saw over $700 million in volume on a 24-hour basis. By contrast, centralized crypto exchange Coinbase saw $1.75 billion over the past 24 hours. 

The fee is somewhat ironic, given the struggles Uniswap DAO has faced in turning on the “fee switch.” Uniswap’s (UNI) token essentially has two powers: enabling holders to vote on disbursements from the treasury, and enabling a fee on trading pools that would hypothetically distribute to UNI token holders. 

An effort in June to trigger the fee switch failed, with major “no” voters citing tax and regulatory concerns.

In a research note on the announcement, Blockworks Research wrote that the 0.15% fee is more aggressive than centralized exchanges such as Binance, which charges a 0.1% maker and taker fee, but that Uniswap’s volume will remain robust regardless. Metamask Swaps, meanwhile, charges a 0.875% interface fee. 

According to data from Blockworks Research, the fee would have generated an estimated $22 million in revenue YTD for Uniswap Labs. 

Updated Oct. 16, 2023 at 6:33 pm ET: This article has been updated to add additional interface fee and Blockworks Research data.


Don’t miss the next big story – join our free daily newsletter.

Tags

Upcoming Events

Hilton Metropole | 225 Edgware Rd, London

MON - WED, MARCH 18 - 20, 2024

Crypto’s premier institutional conference returns to London in March 2024. The DAS: London Experience:  Attend expert-led panel discussions and fireside chats  Hear the latest developments regarding the crypto and digital asset regulatory environment directly from policymakers and experts   Grow your network […]

Salt Lake City, UT

WED - FRI, OCTOBER 9 - 11, 2024

Pack your bags, anon — we’re heading west! Join us in the beautiful Salt Lake City for the third installment of Permissionless. Come for the alpha, stay for the fresh air. Permissionless III promises unforgettable panels, killer networking opportunities, and mountains […]

recent research

logo.jpeg

Research

Akash is a general-purpose compute platform with GPUs, storage, LLM training or inference, and validator hosting through its two-sided marketplace.

article-image

The SEC could allow half a dozen or more such funds to launch at once, Ark Invest CEO says

article-image

2023 saw a decline in a16z crypto funding, but the behemoth VC firm teased what it’s excited for next year

article-image

“Iran Unchained” launched a new version of its grant platform to make donations to activists easier

article-image

The stablecoin marks the first time a regulated European bank has made a euro-pegged stablecoin available on a crypto exchange

article-image

Build it and they will come, perhaps, but making crypto easier to use is turning out to be just as important

article-image

Amid moves by Itau Unibanco and Nubank, the country could serve as “a proof of concept” for TradFi-crypto integrations, industry research exec says