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.


Start your day with top crypto insights from David Canellis and Katherine Ross. Subscribe to the Empire newsletter.

The Lightspeed newsletter is all things Solana, in your inbox, every day. Subscribe to daily Solana news from Jack Kubinec and Jeff Albus.

Tags

Upcoming Events

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

Research report cover graphics (4).jpg

Research

Despite crypto gaming related projects and funds raising close to a billion dollars in November 2021, there have been only a handful of games that have attracted users apart from mercenary capital, and have had sustained activity for longer than a few months. Crypto gaming is going through an infrastructure phase. Theoretically, crypto gaming stands to benefit from purpose-built, high throughput chains, where blockspace is cheap (especially for games which are fully onchain). However, despite the launch of many gaming-focused chains, most crypto games are lacking in quality and quantity. Most new crypto gaming infrastructure either have no games or only a few games launched (e.g. Xai) or have failed to garner meaningful attention (e.g. Immutable X).

article-image

Successful distributed validator technology needs distributed funding, founders say

article-image

As Bloomberg analysts up their ether ETF approval odds, concerns about ETH’s liquidity and its possible status as a security remain

article-image

Ethereum is becoming a multilayered lasagna-like system, pushing people to the margins with its complexity and fees

article-image

Ether would be set to re-test its 2021 price high should the regulator unexpectedly approve ETH funds, industry watchers say

article-image

The Financial Innovation and Technology for the 21st Century Act, known as the FIT21 Act, is expected to head to the floor for a vote in the House in the afternoon on May 22

article-image

NYAG announced details about its settlement with bankrupt lender Genesis on Monday