For the first timeand only for certain transactions, Uniswap Labs will collect feesInterface Fee, on swaps between different tokens. Reason given : finance to finance activities.
DeFi reference protocol, Uniswap adds fees charges. These are effective as of today, October 17. The announcement was made yesterday on X (ex-Twitter) by its creator, Hayden Adams.
The charges, dubbed Interface Feeare different from those already applied to the Uniswap protocol. Their purpose is also different. This fee is intended to finance the operations of Uniswap Labs, which develops the protocol.
0.15% to guarantee sustainable business
We will charge an exchange fee of 0.15% – a first in Labs’ history – on selected tokens in our web application and wallet.” thus know Hayden Adams.
The new swaping fees therefore apply under specific conditions and on a limited number of tokens, namely ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC and XSGD.
The tokens listed are in fact subject to fees only when exchanged via Uniswap Labs’ interfaces on the main network and supported L2s.
Another condition is that both input and output tokens must be listed.
0.15% compared with DeFi’s average of 1%.
Finally, the company specifies that exchanges between stablecoins are not affected, nor are transactions between WETH and ETH.
This interface fee is one of the lowest in the industry and allows us to continue to research, develop, build, deliver, improve and expand crypto and DeFi,” writes Hayden Adams.
And to further justify this additional cost to users, the Uniswap founder points to the multiple developments being made in 2023 on the protocol.
These include iOS and Android versions of the wallet, UniswapX and “major” improvements to the web application. But Uniswap Labs must also be prepared for increased regulatory costs.
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