In a move aimed at enhancing sustainability and continued innovation, Uniswap Labs, the company behind the renowned decentralized exchange Uniswap, is set to implement a 0.15% swap fee on specific tokens accessible through its web app and wallet. This fee represents the first of its kind in Uniswap Labs' history and is part of the company's ongoing efforts to build a transparent and sustainable business model.
Uniswap Labs has been a notable contributor to the crypto world, aligning with the belief that blockchain technology can bring about a substantial positive impact by eliminating intermediaries and fostering broader access to value and ownership.
“This interface fee is one of the lowest in the industry, and it will allow us to continue to research, develop, build, ship, improve, and expand crypto and DeFi,” Uniswap’s inventor Hayden Adams said in a tweet:
I work in crypto because of the immense positive impact I believe it can have on the world, removing gatekeepers and increasing access to value and ownership.— hayden.eth 🦄 (@haydenzadams) October 16, 2023
I’m proud of the ways @Uniswap Labs has contributed to that effort and want to make sure we’re creating sustainable…
Hayden Adams, the founder of Uniswap, designed the protocol to function as a permissionless and decentralized public good. Users have the freedom to interact with it in various ways, whether through aggregator platforms, alternative user interfaces, or direct engagement with the smart contracts. However, Uniswap's web interface has remained a favorite among users, thanks to its continuous improvements and user-friendly features, attracting significant investment.
Despite the introduction of a swap fee, Uniswap Labs seeks to maintain competitive pricing. This fee structure ranks among the lowest in the industry. It will facilitate further research, development, expansion, and the continuous improvement of crypto and decentralized finance (DeFi) offerings.
Uniswap Labs has achieved remarkable milestones this year, including the launch of iOS and Android wallets, UniswapX, substantial enhancements to the web app, Permit2, the unveiling of Uniswap v4 draft codebase, and more. These developments underscore the company's commitment to advancing the crypto and DeFi space.
This change in fee structure, which takes effect immediately, is distinct from the Uniswap Protocol fee switch, subject to UNI token governance decisions. Uniswap Labs' ongoing dedication to transparency and sustainability is expected to drive positive changes in the crypto sector, allowing it to thrive while retaining its core principles of decentralization and accessibility.
Stay tuned for updates on the list of tokens and fee levels, which will be made available on the Uniswap help center.