The proceeds from the fees will go toward funding future product improvements.
Uniswap, a decentralized cryptocurrency exchange (DEX), has now announced that it would include trading fees for tokens such as ETH and USDT. Starting tomorrow, you’ll be charged a flat rate of 0.15% each transaction.
CEO Hayden Adams of Uniswap Labs tweeted the news, explaining that the move was made to provide steady funding for the company’s research and development. The widely used DEX protocol Uniswap was developed by Uniswap Labs and has never required any fees.
According to the support website, Uniswap will charge fees for tokens like as ether, usdc, wrapped ether, usdt, dai, wrapped btc.
Only transactions conducted through Uniswap’s online and mobile interfaces will be subject to the new costs.
Adams wrote, “I made the protocol to be a decentralized public good that people could use without permission.” “There are an infinite number of possible applications for it. We’ll be able to keep investing in crypto and DeFi research, development, building, shipping, improving, and expanding thanks to this relatively minimal interface cost.”
Adams’s prior advocacy for completely libertarian regimes is at odds with this new position. In the end, he said, “I want to make sure we’re creating sustainable systems to power this work.”
According to CoinGecko, the UNI token, used on Uniswap’s platform, has been trading at about $4.1 for the last 24 hours, changing hands by barely 0.4% higher.
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