According to the announcement, starting from October 17th, Uniswap will introduce a new fee for certain swap transactions on both the web interface and wallet app. Specifically, the exchange will implement a 0.15% fee called the “interface fee” for swapping tokens such as ETH, USDC, WETH, USDT, DAI, WBTC, agEUR, GUSD, LUSD, EUROC, and XSGD.
However, it’s important to note that the platform will only charge this fee when users initiate transactions on the mainnet interface of Uniswap Labs and supported layer 2 solutions. Swapping between input and output tokens will still incur fees. In the case of swaps between stablecoins, users won’t be subject to additional fees.
Uniswap founder Hayden Adams stated, “This is distinct from the Uniswap protocol fee, which is governed by UNI token holders… The fee is among the lowest in the industry and will provide us with additional resources to research, develop, build, improve, and expand cryptocurrencies and DeFi.”
The interface fee is different from the current Uniswap protocol fee, which is managed by governance voters. Additionally, the platform previously proposed an additional liquidity pool fee of 0.3%.
Based on Uniswap’s current volume, The Block estimates that the new fees will generate around $1 million per day. Trading pairs contribute approximately $580 million in volume, which will help Uniswap generate around $870,000 in swap fees.
Uniswap’s announcement sparked a significant debate within the cryptocurrency community. Gabriel Shapiro, an advisor at web3 research platform Delphi Labs, argued that Uniswap “doesn’t want to provide value to UNI but rather plans to earn more money from users.” However, many others support Uniswap’s move, seeing it as a necessary step towards a sustainable business model.