The decentralized cryptocurrency exchange Uniswap will start implementing a fee of 0.15% to trade cryptocurrencies on its web app and wallet starting on Oct. 17.
The tokens affected include ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC and XSGD, Uniswap said Monday on its website.
"This is separate from the Uniswap Protocol fee switch, which is voted on by UNI token governance," Uniswap founder Hayden Adams wrote on X.
The new fee follows liquidity pool fees of 0.3% and a protocol fee expected to rise from 0% after after a governance vote. The Block Research estimates that, at Uniswap's current volumes, the new token fee will generate around $1 million a day. The above specific pairs bring in roughly $580 million in daily trading volume, which will result in about $870,000 in swap fees, according to data from Flipside.
"Users have countless choices of ways to use it, through aggregators, other UIs, or by interacting directly with the smart contracts," Adams wrote. "Our interface remains the best – a huge amount of love (and money) goes into making that the case."
"This interface fee is one of the lowest in the industry, and it will allow us to continue to research, develop, build, ship, improve, and expand crypto and DeFi," he continued.
(Updates figures to reflect estimated daily swap revenue.)
source:theblock
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