Uniswap Increases Interface Fees from 0.15% to 0.25%
After receiving a warning from the SEC, leading DEX Uniswap promptly increased the swap fee by 0.1%, applying it to most trading pairs.
Uniswap Increases Interface Fees from 0.15% to 0.25%
On-chain data reveals that Uniswap began applying a 0.25% interface fee starting from April 10, the same day founder Hayden Adams disclosed facing a potential lawsuit from the SEC.
BREAKING: Uniswap Labs increased the fee on the swaps through the Uniswap Labs interfaces and expanded the set of fee-eligible trades
— Dan Smith (@smyyguy) April 13, 2024
The new policy now charges 0.25% on all swaps through the UI and wallet, except stablecoin pairs and wrapping/unwrapping WETH
The interface fee is now applied to almost all trading pairs (except certain stablecoin and wrap token pairs) across all networks supported by Uniswap. However, users can avoid this fee by accessing interfaces other than the one developed by Uniswap Labs.
Uniswap initially implemented the 0.15% interface fee on October 17, 2023, to expand its revenue streams. At that time, it was estimated that the new fee would generate approximately $1 million daily, according to Flipside.
While the majority of the community is not thrilled about the additional fee, some supporters argue that it is a necessary step for the project's sustainable development.
Before the interface fee was applied, users only had to pay the protocol fee, which is currently managed by the DAO. In March, the DEX unexpectedly announced a proposal to share swap fee revenue with UNI holders, driving the token's price to as high as $17.
Currently, UNI is trading around $7.4, down 35% over the past week amid various negative news and a generally declining market.
1-Hour Chart of UNI/USDT on Binance at 10:45 PM on 15/04/2024
