Investing.com - Financial Markets Worldwide

Uniswap Implements New Fees: Charges 0.15% On Specific Tokens

Published 17/10/2023, 14:57
Uniswap Implements New Fees: Charges 0.15% On Specific Tokens
UNIs/USD
-

Coin Edition -

  • Uniswap has introduced a 0.15% swap fee on particular tokens.

  • The daily fees charged on Uniswap V3 may be between $388,000 and $444,000.

  • 35% to 40% of the transaction volume on Uniswap happens on the front end.

According to Colin Wu, a renowned blockchain-focused Chinese reporter, the daily fees charged on Uniswap V3 may be between $388,000 and $444,000. Wu noted that about 35% to 40% of the transaction volume on the decentralized exchange happens on the front end.

Wu had earlier posted about introducing a 0.15% swap fee on Uniswap for particular tokens. The tokens in this category include ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, and XSGD.

Uniswap clarified via a publication on its help center that the affected tokens are subject to fees only when traded through Uniswap Labs interfaces on the mainnet and supported L2s. The project emphasized that the fees only affect swaps where input and output tokens are subject to fees.

Furthermore, the publication explained that the recent fees implemented by Uniswap are separate from the Uniswap Protocol fee switch, which is voted on by Uniswap governance.

The basis of the latest implementation by Uniswap was still unclear to several users at the time of this report. Some respondents to Wu’s post questioned the motive behind the 0.15% fee introduction, asking how the protocol arrived at that.

A particular respondent questioned the timing of the fee. He asked why the cost was fixed at 0.15% and also requested to know who decided on the particular tokens to be charged the stipulated fees.

According to Wu, the volume on Ethereum Uniswap V3 in the past 24 hours is $810 million, excluding major stablecoin pairs, which is $740 million.

The post Uniswap Implements New Fees: Charges 0.15% On Specific Tokens appeared first on Coin Edition.

Read more on Coin Edition

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.