Uniswap’s golden goose: User fees have turned into a lucrative revenue stream for the platform’s developer.
After MicroStrategy and Coinbase shared their revenue reports, Uniswap has now released cumulative front-end revenue figures.
In cryptocurrency news today Uniswap Labs, the brains behind the Uniswap protocol, has hit a significant milestone, surpassing $50 million in cumulative front-end fees.
Back in October, Uniswap introduced a 0.15% fee on user transactions via its web interface and wallet app, creating a new revenue stream for the firm. By mid-April, this fee was increased to 0.25%, further boosting earnings.
Since the start of the year, these fees have skyrocketed over thirteenfold, jumping from $3.7 million on January 1st to over $50.6 million today.
Uniswap continues to dominate as the largest decentralized exchange (DEX) by on-chain swap volume. In July alone, Uniswap handled $54 billion out of a total of $154 billion in swap volume, as per data.
As per the crypto market latest news, for users keen on avoiding front-end fees, DEX aggregators like 1inch, Cowswap, and Paraswap offer alternatives. In July, Uniswap’s front end accounted for 25.7% of DEX activity, while 1inch, the leading DEX aggregator, captured 19.8% of the monthly share.
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