Decentralized exchange Uniswap (UNI) will begin charging a 0.15% swap fee on certain tokens in its web app and wallet on October 17.
According to a post by Hayden Adams, founder of DEX, the affected tokens are 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).
Interface fees will be deducted from the output token amount. Additionally, no fees will be charged for swaps between Ether and Wrapped Ether trading pairs, or for swaps between stablecoins.
I work in crypto because of the immense positive impact I believe it can have on the world, removing barriers and increasing access to value and ownership.
I am proud of the shapes @Uniswap Labs has contributed to that effort and wants to ensure that we are creating sustainable products…
— hayden.eth (@haydenzadams) October 16, 2023
“This interface fee is one of the lowest in the industry and will allow us to continue researching, developing, building, shipping, improving and expanding cryptocurrencies and DeFi,” Adams wrote, noting new developments in the Uniswap ecosystem as “a wallet iOS, an Android wallet, UniswapX, major improvements to our web app, Permit2, draft Uniswap v4 codebase, and more.”
Uniswap is currently one of the most popular DEXs in the industry. According to data from DeFiLlama, the DEX currently has $3 billion in total value locked, generating over $271 million in annualized protocol fee revenue. It has $12 million in its treasury and has raised $176 million from investors since its inception in 2018.
Cointelegraph previously reported on September 27 that DEX developer Uniswap Foundation is targeting $62 million in additional funding for infrastructure construction and ecosystem grants. On October 15, a new hook available in an open source directory for Uniswap V4 sparked controversy for its ability to require a “know your customer” verification before trading in DEX liquidity pools.
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