Uniswap, a core decentralized exchange (DEXs) operating in the crypto space, is set to introduce a 0.15% swap fee for certain tokens within its web application and wallet starting today October 17 (GMT), marking a shift from the platform's previous no-fee structure.

According to Uniswap, the tokens affected by this fee adjustment include Ethereum (ETH), USD Coin (USDC), Wrapped Ether (WETH), Tether (USDT), DAI, Wrapped Bitcoin (WBTC), Angle Protocol (agEUR), Gemini Dollar (GUSD), Liquidity USD (LUSD), Euro Coin (EUROC), and StraitsX (XSGD). 

However, just two days prior to this development, controversy emerged surrounding an open-source directory for Uniswap V4, which introduced a hook capable of requiring know-your-customer (KYC) verification before participating in the DEX's liquidity pools. It's also important to note that the aforementioned fees will only be applicable if both the input and output tokens are on the list.

Uniswap's founder, Hayden Adams, shared his thoughts on and why the urgent update, claiming that the interface fee for swapping (for 0.15%) is among the lowest in the industry. Adams says that the fee collected will be deducted from the output token amount. Notably, there won't be any fees imposed on swaps between Ether and Wrapped Ether trading pairs, as well as inter-stablecoin swaps.

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.I’m proud of the ways @Uniswap Labs has contributed to that effort and want to make sure we’re creating sustainable…

— hayden.eth 🦄 (@haydenzadams) October 16, 2023

Adams says that the fee is critical in sustaining Uniswap's ongoing research, development, and expansion efforts in the cryptocurrency and decentralized finance (DeFi) space. The founder also mentioned several key initiatives in the Uniswap ecosystem, including the upcoming iOS wallet, Android wallet, UniswapX, substantial improvements to their web application, Permit2, Uniswap v4 draft codebase, and other initiatives in the platform's pipeline.

As one of the premier DEXs, Uniswap represents a substantial presence in the industry. Public blockchain data reveals that the platform currently holds a total value of $3 billion, with an annualized protocol fee revenue exceeding $271 million. On top of this, Uniswap also maintains a treasury of $12 million and has secured $176 million in investments since its inception in 2018.

Recent reports also shed light on Uniswap Foundation's fundraising endeavors, with plans to secure $62 million in additional funding to bolster infrastructure development and support ecosystem grants.Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

Uniswap, a core decentralized exchange (DEXs) operating in the crypto space, is set to introduce a 0.15% swap fee for certain tokens within its web application and wallet starting today October 17 (GMT), marking a shift from the platform's previous no-fee structure.

According to Uniswap, the tokens affected by this fee adjustment include Ethereum (ETH), USD Coin (USDC), Wrapped Ether (WETH), Tether (USDT), DAI, Wrapped Bitcoin (WBTC), Angle Protocol (agEUR), Gemini Dollar (GUSD), Liquidity USD (LUSD), Euro Coin (EUROC), and StraitsX (XSGD). 

However, just two days prior to this development, controversy emerged surrounding an open-source directory for Uniswap V4, which introduced a hook capable of requiring know-your-customer (KYC) verification before participating in the DEX's liquidity pools. It's also important to note that the aforementioned fees will only be applicable if both the input and output tokens are on the list.

Uniswap's founder, Hayden Adams, shared his thoughts on and why the urgent update, claiming that the interface fee for swapping (for 0.15%) is among the lowest in the industry. Adams says that the fee collected will be deducted from the output token amount. Notably, there won't be any fees imposed on swaps between Ether and Wrapped Ether trading pairs, as well as inter-stablecoin swaps.

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.I’m proud of the ways @Uniswap Labs has contributed to that effort and want to make sure we’re creating sustainable…

— hayden.eth 🦄 (@haydenzadams) October 16, 2023

Adams says that the fee is critical in sustaining Uniswap's ongoing research, development, and expansion efforts in the cryptocurrency and decentralized finance (DeFi) space. The founder also mentioned several key initiatives in the Uniswap ecosystem, including the upcoming iOS wallet, Android wallet, UniswapX, substantial improvements to their web application, Permit2, Uniswap v4 draft codebase, and other initiatives in the platform's pipeline.

As one of the premier DEXs, Uniswap represents a substantial presence in the industry. Public blockchain data reveals that the platform currently holds a total value of $3 billion, with an annualized protocol fee revenue exceeding $271 million. On top of this, Uniswap also maintains a treasury of $12 million and has secured $176 million in investments since its inception in 2018.

Recent reports also shed light on Uniswap Foundation's fundraising endeavors, with plans to secure $62 million in additional funding to bolster infrastructure development and support ecosystem grants.Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.