Decentralized exchange Uniswap (UNI) will begin charging a 0.15% swap fee on certain tokens in its web application and wallet on October 17.
Uniswap, one of the most popular decentralized exchanges (DEXs) in the industry, has announced that it will be implementing a 0.15% swap fee on specific tokens starting October 17. The affected tokens include Ethereum (ETH), USD Coin (USDC), Wrapped Ether (WETH), Tether (USDT), DAI, Wrapped Bitcoin (WBTC), Angle Protocol (agEUR), Femini Dollar (GUSD), Liquidity USD (LUSD), Euro Coin (EUROC), and StraitsX (XSGD).
The fees will be deducted from the output token amount. However, swaps between Ether and Wrapped Ether trading pairs, as well as inter-stablecoin swaps, will not be subject to these fees.
A Low Fee to Support Uniswap's Growth and Development
Hayden Adams, the founder of Uniswap, emphasized that the 0.15% interface fee is one of the lowest in the industry. The revenue generated from these fees will enable Uniswap to continue its research, development, and expansion in the crypto and decentralized finance (DeFi) space.
Adams also highlighted various new developments in the Uniswap ecosystem, including the upcoming launch of an iOS wallet, Android wallet, UniswapX, major improvements to the web app, Permit2, Uniswap v4 draft codebase, and more.
Uniswap's Impressive Growth and Funding
Uniswap has experienced significant growth since its inception in 2018. Currently, the DEX has $3 billion in total value locked, generating over $271 million in annualized protocol fee revenue. It also has $12 million in its treasury and has raised $176 million from investors.
The Uniswap Foundation, the developer behind the DEX, is seeking an additional $62 million in funding to further enhance its infrastructure and support ecosystem grants.
Despite its success, Uniswap has faced controversy recently. On October 15, a new hook available on an open-source directory for Uniswap V4 sparked a debate due to its potential requirement for know-your-customer verification before trading in the DEX's liquidity pools.
Uniswap continues to be a trailblazer in the DeFi space, and these new swap fees are a step towards sustained growth and development.
