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As announced on the X app by the founder and Chief Executive Officer (CEO) of Uniswap Hayden Adams, the permissionless and decentralized protocol will begin to charge a 0.15% swap fee for some tokens from October 17.
Uniswap Pushing for Sustainability
Adams took to the X app to express his satisfaction concerning how Uniswap has constantly contributed its quota to displacing “gatekeepers” and increasing access to value and ownership in the digital asset sector.
At the same time, Uniswap is trying to make sure that it puts up powerful sustainable systems that uphold the workforce and champion transparency and sustainability which are some of the core values of the protocol since its inception.
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.
I’m proud of the ways @Uniswap Labs has contributed to that effort and want to make sure we’re creating sustainable…
— hayden.eth 🦄 (@haydenzadams) October 16, 2023
The 0.15% swap fee on the decentralized exchange is one of its kind in the history of Uniswap Labs. It would cut across both the Uniswap web app and the wallet. Across the industry, Uniswap boasts of having the lowest interface fee. The list of tokens impacted includes ETH, USDC, WETH, USDT, DAI, and others listed on the Uniswap help center.
An updated version of this list will also be found on the help center as the protocol said it “is committed to simple and transparent pricing.”
Notably, these tokens are likely to be charged swap fees when they are traded via Uniswap Labs interfaces on mainnet and supported Layer-2 protocols. Two groups of tokens are exempted from the swap fee. The first group are tokens featured in swaps from one stablecoin to another stablecoin while the other are those featuring wrapping between ETH and WETH.
Doubling Down on User-focused Innovations
Users may choose to utilize the service through the use of aggregators, or other UIs. They may also decide to interact directly with the smart contracts.
It is worth noting that this new swap fee is not the same as the Uniswap Protocol fee switch which is voted on by UNI token governance. Some other services that Uniswap has launched so far are UniswapX Beta Protocol and its Non-fungible token (NFT) aggregator.
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