Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Decentralized exchange Uniswap will implement a 0.15% swap fee on specific tokens within its web application and wallet starting on Oct. 17.
As per a message from Uniswap founder Hayden Adams, the tokens impacted include Ether (ETH), USD Coin (USDC), Wrapped Ether (wETH), Tether (USDT), Dai (DAI), Wrapped Bitcoin (WBTC), Angle Protocol’s agEUR, Gemini Dollar (GUSD), Liquidity USD (LUSD), Euro Coin (EUROC), and StraitsX Singapore Dollar (XSGD). Shortly after the announcement, a representative from Uniswap contacted Cointelegraph, clarifying that “both the input and output token must be on the list for the fee to be applicable.”
The interface fees will be subtracted from the output token quantity. Furthermore, fees will not be charged on swaps involving Ether and Wrapped Ether trading pairs, nor on swaps between stablecoins.
I work in crypto due to the significant positive influence I believe it can exert on the world, eliminating gatekeepers and enhancing access to value and ownership.
I’m proud of the contributions @Uniswap Labs has made toward that goal and want to ensure we’re fostering sustainable…— hayden.eth (@haydenzadams) October 16, 2023
Related Posts
“This interface fee is among the lowest in the industry, and it will enable us to continue researching, developing, building, enhancing, and expanding crypto and DeFi,” Adams stated, highlighting new advancements in the Uniswap ecosystem such as “an iOS wallet, Android wallet, UniswapX, significant upgrades to our web application, Permit2, Uniswap v4 draft codebase, and more.”
Uniswap ranks as one of the most widely used decentralized exchanges in the sector. According to data from DefiLlama, the DEX currently holds $3 billion in total value locked, producing over $271 million in annualized protocol fee revenue. It possesses $12 million in its treasury and has secured $176 million from investors since its establishment in 2018.
Cointelegraph previously reported on Sept. 27 that Uniswap Foundation, the DEX’s developer, is aiming for an additional $62 million in funding to support infrastructure and ecosystem grants. On Oct. 15, a new hook available on an open-source directory for Uniswap v4 sparked controversy due to its capability to mandate Know Your Customer verification prior to trading in the DEX’s liquidity pools.
Update (Oct. 16, 9:32 pm UTC): This article has been revised to incorporate a statement from a Uniswap representative.
Magazine: Singer Vérité’s fan-first approach to Web3, music NFTs and community building
