Starting on October 17, the decentralized exchange Uniswap will implement a 0.15% swap fee on particular tokens within its web application and wallet.
Hayden Adams, the creator of the DEX, listed the tokens that were impacted, including Ethereum (ETH), USD Coin (USDC), Wrapped Ether (WETH), Tether (USDT), DAI, Wrapped Bitcoin (WBTC), Angle Protocol (agEUR), Liquidity USD (LUSD), Euro Coin (EUROC), and StraitsX (XSGD). The fee is charged when both the input and output tokens are on the list, according to a Uniswap spokesperson.
Exemptions from this fee include swaps between pairs of Wrapped Ether and Ether, as well as swaps between stablecoins. This fee will be deducted from the output token amount.
In his explanation, Hayden Adams mentioned upcoming initiatives like iOS and Android wallets, UniswapX, web app improvements, Permit2, the Uniswap v4 draft codebase, and more. He also said that this interface fee is among the lowest in the industry and is crucial for the development and growth of Uniswap.
With a significant $3 billion in total value locked and annualized protocol fee revenue exceeding $271 million, along with $12 million in its treasury, Uniswap is currently one of the top decentralized exchanges. Since the project's inception in 2018, investors have contributed $176 million to the effort.
The Uniswap Foundation had previously aimed to raise an additional $62 million for grants for infrastructure and ecosystems. For allowing potential know-your-customer verification in its liquidity pools, Uniswap V4 sparked controversy on October 15.
