No fees shall be imposed on exchanges involving stablecoins or the act of wrapping Ether tokens. Uniswap, a decentralized exchange, is slated to initiate a 0.15% exchange fee on specific tokens within its web interface and wallet on October 17th.
According to a statement from Uniswap’s founder, Hayden Adams, the affected tokens encompass Ether, USD Coin, Wrapped Ether (wETH), Tether, Dai, Wrapped Bitcoin (WBTC), Angle Protocol’s agEUR, Gemini Dollar (GUSD), Liquidity USD (LUSD), Euro Coin (EUROC), and StraitsX Singapore Dollar (XSGD). Following the release, a Uniswap spokesperson contacted Cointelegraph to clarify that the fee only applies when both the input and output tokens are on the aforementioned list.
The interface fees will be subtracted from the output token’s total, but exchanges between Ether and Wrapped Ether pairs, as well as stablecoin swaps, shall remain exempt from fee collection.
Uniswap’s founder, Adams, highlighted that this interface fee is among the most competitive in the industry and will fund ongoing research, development, enhancement, and expansion of crypto and DeFi projects. Notable developments within the Uniswap ecosystem include an iOS wallet, an Android wallet, UniswapX, substantial improvements to their web application, Permit2, Uniswap v4 draft codebase, and more.
Uniswap stands as one of the premier decentralized exchanges globally. According to data from DefiLlama, the platform currently manages $3 billion in total locked value and generates an annualized protocol fee revenue exceeding $271 million. With a treasury of $12 million and a cumulative investment of $176 million since its establishment in 2018, Uniswap Foundation is aiming to secure an additional $62 million in funding for infrastructure development and ecosystem grants. On October 15, a new feature introduced to Uniswap v4’s open-source directory stirred controversy due to its capability to mandate Know Your Customer verification before engaging in trades within the DEX’s liquidity pools.
