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Uniswap Labs, the popular decentralized exchange protocol, has implemented a 0.15% fee for specific cryptocurrency trades on its web app and wallet. This move is expected to generate approximately $1 million in fees per day. The introduction of the fee aims to support research, development, and expansion of the crypto and DeFi ecosystem. Users can still utilize the Uniswap protocol without using the front end, highlighting the key property of crypto. The fee implementation has sparked discussions about the convenience factor and potential centralization. Some experts suggest that fees may be just the beginning, with future steps possibly including KYC requirements. Uniswap's decision to introduce fees comes as other major players in the industry, such as Binance, face concerns about insolvency and regulatory scrutiny. The announcement has impacted the market, with the UNI token experiencing a 6.2% drop in the past 24 hours.
New fee at @Uniswap is controversial mostly because the revenue from it will be directed to Uniswap Labs. UNI holders, who govern the protocol, won’t benefit from it — at least not directly, @TimInCrypto reports. https://t.co/2rDKoOvaBX https://t.co/2rDKoOvaBX
$UNI plummeted 6.2% in the past 24 hrs following the announcement to impose a 0.15% swap fee involving ETH, USDC, and other tokens on #Uniswap. According to @haydenzadams, the interface fee allows the team "to research, develop, build, ship, improve, and expand crypto and DeFi.” https://t.co/nwRo86jUNk
New in The Briefing: More insights from our annual list of 50 startups to watch. Plus, Uniswap Labs turns to revenue. https://t.co/cYfqj8WM9F From @ScottThurm.
alright who's dropping 2K on uniswap frontend fees https://t.co/Ooi1QBIOto
SPECS DAILY ⌐◪-◪ Uniswap Collects A New Toll 🦄🚫👾 ⭐️ Top News • Uniswap adds 0.15% front-end fee for certain token swaps • Binance halts USD withdrawals, people worried of insolvency • Roblox integrates XRP payments, metaverse here we come! ⛓️ Crypto & DeFi •… https://t.co/vTnap1Jwgp https://t.co/xXM5dXyEPq
Uniswap Labs Introduces 0.15% Fee on Specific Crypto Trades https://t.co/Vq377S6QKf
Confused why several Uniswap competitors claim to have no fees when they do
Opinion: Analysis of Uniswap Labs charging Swap Fee and what will be done in the future By @tmel0211 - Learn the MetaMask model and obtain profits to subsidize the cost of operations - Fees are just the beginning of centralization, the next step may be KYC - No empowerment for… https://t.co/8nmhUWI4oa https://t.co/svyYuZCQBY
So many dumb takes on the uniswap wallet fee i really cant take it anymore And you all blatantly ignore that the uniswap frontend and wallet drive maybe 1% of the total volume to the uniswap protocol, most of it is through aggregators
Uniswap plans to start implementing a 0.15% fee for certain crypto trades on its web app and wallet from October 17, generating an estimated $1M per day in fees (@mmanoylov / The Block) https://t.co/3cy3V80eP7 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/UfQ0PWUWpp
Uniswap founder Adam Hayden says the interface fee will allow the team to continue to research, develop and build crypto and DeFi. https://t.co/mYGrQGAExm
Folks complaining about the Uniswap front end charging a swap fee forget that they can still use the protocol without using the front end. That’s a key property of crypto folks. Fwiw the convenience factor comes at a premium and surprised it took Uniswap this long to implement it… https://t.co/q7uieZuV95