Uniswap, the largest decentralized exchange (DEX) on Ethereum, has announced that it will charge a 0.15% swap fee on 11 tokens when traded through its web and wallet applications.
The new fee, which began yesterday, will be in addition to the protocol fee of 0.05% that is managed by the UNI governance token holders.
The 11 tokens affected by the new fee are ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC and XSGD.
These tokens are among the most popular and liquid on Uniswap, accounting for over 80% of the total volume on the platform.
According to Uniswap Labs, the new fee is intended to support the development and maintenance of the Uniswap web and wallet applications, which provide a simple and secure way for users to access the Uniswap protocol.
It will also help cover the costs of hosting, scaling, security audits, legal compliance, and user support.
The new fee will apply only to trades made through the Uniswap Labs interface, and not to trades made through other interfaces or integrations.
The announcement of the new fee has sparked mixed reactions from the crypto community.
On X, many customers and clients have expressed their support and appreciation for the Uniswap team and their efforts to provide a high-quality user experience.
While others have criticized the fee as unfair, unnecessary, and detrimental to the decentralization and competitiveness of Uniswap.
Some users have also suggested that the fee should be shared with the UNI governance token holders or the liquidity providers.
Uniswap is one of the leading DEXs on Ethereum, with over $2 billion in daily volume and over $6 billion in total value locked.
The platform allows users to swap any ERC-20 token without intermediaries or custodians. It also allows users to provide liquidity to any token pair and earn fees from each trade.
Uniswap is powered by a set of smart contracts that run on the Ethereum blockchain and can be accessed by anyone with an Ethereum wallet.