Hassan Maishera
TL;DR
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Uniswap is introducing a 0.15% fee on some cryptocurrency swaps carried out via its interface.
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The move will help to fund Uniswap Lab’s operations sustainably.
Uniswap Now Charges For Crypto Swaps
Uniswap Labs, the parent company behind the decentralized crypto exchange Uniswap, is set to introduce a 0.15% fee starting today. The fees involve ETH, USDC and other tokens. Only swaps that execute through Uniswap Labs’ front end will be taxed, the team added.
I work in crypto because of the immense positive impact I believe it can have on the world, removing gatekeepers and increasing access to value and ownership.
— hayden.eth 🦄 (@haydenzadams) October 16, 2023
I’m proud of the ways @Uniswap Labs has contributed to that effort and want to make sure we’re creating sustainable…
Uniswap’s inventor Hayden Adams said in a tweet pointed out that the fee differs from Uniswap’s existing “protocol fee” that’s managed by governance voters. The new fee is levied by Uniswap Labs as it seeks to sustainably fund its operations.
Adams added that,
“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.”
The new fee will affect trades involving a minimum of two of the following tokens: ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC or XSGD, according to an FAQ. Uniswap Labs added that stablecoin swaps will not be taxed, and neither will trade between ether and wrapped ether.
The Uniswap Labs spokesperson said for the fee to apply, the input and output tokens need to be on the list.
UNI, the native coin of the Uniswap ecosystem, has been underperforming over the last 24 hours. UNI has lost more than 2% of its value during that period and is now trading at $4.10 per coin.
