Benzinga - Uniswap Labs has announced the introduction of a 0.15% fee on specific crypto swaps. Starting Tuesday, the fee will impact trades involving select tokens.
What Happened: As indicated by CoinDesk, the new charge will be applied to trades involving at least two of the following tokens: ETH (CRYPTO: ETH), USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, or XSGD. Notably, transactions involving stablecoins and those between ether and wrapped ether will be exempted from this fee.
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This new “interface fee” is distinct from Uniswap’s existing “protocol fee” and is being levied by Uniswap Labs to “sustainably fund our operations”, as mentioned in a company blog post. Hayden Adams, the inventor of Uniswap, has underscored that this fee is one of the lowest in the industry and will aid the company’s continuous efforts toward the development and expansion of crypto and DeFi.
Following the story's release, a Uniswap representative clarified that both the input and output token must be on the list for the fee to be applicable.
Why It Matters: This move by Uniswap Labs comes on the heels of the company’s recent initiative to broaden its user base.
Just last week, Uniswap Labs launched a beta version of its mobile application for Android users, thereby no longer restricting its platform to PC and iOS devices. The introduction of the new fee could be part of the company’s strategy to generate additional revenue to fund further expansion and development in the face of growing competition in the decentralized crypto exchange space.
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