Uniswap Labs recently announced levying a 0.15% fee on a few frontends and assets. Traders using frontends by Uniswap on its DEX will be subject to the 0.15% fee.
Hayden Adams, the founder of Uniswap, made the announcement on its official X/Twitter channel. The founder portrayed the fee as a way to promote ongoing network development.
The tweet also mentioned that this fee will only be applicable to the Uniswap.org frontend and the Uniswap web app. As per Adams’ tweet, the founder deals in crypto due to its positive impact on the world. It eliminates gatekeepers while offering access to ownership and value. Adams expressed pride in the way Uniswap Labs works and contributes to the market.
After the new fee structure is in place, these assets will be subject to the charge: USDC, ETH, DAI, agEUR, EUROC, LUSD, XSGD, WETH, WBTC, USDT, and GUSD. Moreover, the input and output tokens will also be subject to the fee.
The decentralized exchange currently accounts for over $2.7 billion in TVL. The platform witnessed over $700 million in volume in the past 24 hours. In comparison, the popular centralized exchange Coinbase saw $1.75 billion in the past 24 hours.
While the announcement was made, the crypto community saw the fee as ironic given how Uniswap had failed to turn on the fee switch. Experts also believe that the 0.15% fee is aggressive compared to centralized exchanges like Binance, which only charge a 0.1% taker and maker fee.
Similarly, Metamask Swaps only charges an interface fee of 0.875%. Regardless of the increase in fees, Uniswap is expected to generate massive volumes due to its market stature.