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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.<\/p>\n
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.\u00a0<\/p>\n
Assets subject to the fee include \u201c[ether] ETH<\/a>, USDC<\/a>, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, XSGD,\u201d and both the input and output tokens must be among those subject for the fee to be collected.\u00a0<\/p>\n 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<\/a> saw $1.75 billion over the past 24 hours.\u00a0<\/p>\n The fee is somewhat ironic, given the struggles Uniswap DAO has faced in turning on the \u201cfee switch.\u201d Uniswap\u2019s (UNI<\/a>) 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.\u00a0<\/p>\n An effort in June to trigger the fee switch failed<\/a>, with major \u201cno\u201d voters citing tax and regulatory concerns.<\/p>\n 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\u2019s<\/a> volume will remain robust regardless. Metamask Swaps, meanwhile, charges a 0.875% interface fee.\u00a0<\/p>\n According to data from Blockworks Research<\/a>, the fee would have generated an estimated $22 million in revenue YTD for Uniswap Labs.\u00a0<\/p>\n Updated Oct. 16, 2023 at 6:33 pm ET: This article has been updated to add additional interface fee and Blockworks Research data.<\/em><\/p>\n Don\u2019t miss the next big story \u2013 join our\u00a0free daily newsletter<\/a>.<\/strong><\/p>\n
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