Uniswap, a prominent decentralized exchange (DEX) operating in the cryptocurrency sphere, is rolling out a new 0.15% swap fee for specific tokens through its web application and wallet, effective from October 17th (GMT). This marks a significant departure from the platform’s previous fee-free structure.
The tokens impacted by this fee adjustment include Ethereum (ETH), USD Coin (USDC), Wrapped Ether (WETH), Tether (USDT), DAI, Wrapped Bitcoin (WBTC), Angle Protocol (agEUR), Gemini Dollar (GUSD), Liquidity USD (LUSD), Euro Coin (EUROC), and StraitsX (XSGD). It’s crucial to note that these fees are only applicable when both the input and output tokens fall within this list.
Interestingly, just two days prior to this development, a controversy arose regarding an open-source directory for Uniswap V4. This directory introduced a feature that could mandate know-your-customer (KYC) verification before participating in the DEX’s liquidity pools.
Hayden Adams, the founder of Uniswap, addressed the recent changes, emphasizing that the 0.15% fee for swapping is among the lowest in the industry. He clarified that this fee would be deducted from the output token amount. Notably, swaps between Ether and Wrapped Ether trading pairs, as well as inter-stablecoin swaps, will remain fee-free.
Adams stressed the importance of this fee in supporting Uniswap’s ongoing research, development, and expansion efforts within the cryptocurrency and decentralized finance (DeFi) domain. He also mentioned various key initiatives within the Uniswap ecosystem, including the impending iOS and Android wallets, UniswapX, significant enhancements to their web application, Permit2, Uniswap v4 draft codebase, and other initiatives in the platform’s pipeline.
As one of the leading DEXs, Uniswap holds a prominent position in the industry. Public blockchain data reveals that the platform’s total value currently stands at $3 billion, with an annualized protocol fee revenue exceeding $271 million. Additionally, Uniswap boasts a treasury of $12 million and has secured $176 million in investments since its establishment in 2018.
Recent reports have also shed light on the Uniswap Foundation’s fundraising endeavors, as they seek to raise an additional $62 million to enhance infrastructure development and support ecosystem grants.