DEFI

Uniswap's 0.15% "interface fee" officially launched! What are the results? Expected annual revenue to exceed tens of millions of dollars?

share
Uniswap

The 0.15% "interface fee" of Uniswap officially began to be charged starting from yesterday, the 18th. What has been the effect after one day of implementation? Could this bring tens of millions in revenue to Uniswap annually?

Uniswap Starts Charging Interface Fees, How Effective Is It?

According to recent reports, Uniswap began charging users a 0.15% interface fee starting on 10/18. This fee is only applicable to specific tokens and is targeted at users using Uniswap's front-end interface on the web and mobile wallets.

Based on data from Dune here, this mechanism has shown promising results, generating nearly $90,000 in revenue so far, with yesterday's revenue totaling around $75,000.

Currently, the DAI-WETH trading pair is contributing the most revenue to Uniswap, bringing in approximately $35,000.

Of the interface fees, 95% are from transactions on Ethereum, followed by Arbitrum, with Polygon ranking third. In terms of transaction volume, Arbitrum surpasses Ethereum, but the revenue generated from the two platforms differs significantly, indicating that the average transaction value on Ethereum is much higher than on Arbitrum.

Haseeb Qureshi, managing partner at crypto venture fund Dragonfly, also commented on Uniswap's first-day data.

Based on Uniswap's first-day trading revenue of $75,000, he speculates that the annual revenue could reach $25-30 million.

Furthermore, dividing $75,000 by 0.15% suggests that yesterday's Uniswap trading volume was approximately $500 million. Haseeb stated that with an average daily trading volume of $1 billion on Uniswap, the annual revenue could potentially double the initial estimate.

However, Haseeb's speculation may be oversimplified and optimistic. As Uniswap starts charging fees, it may drive users to other protocols that do not charge fees for transactions. For example, the 1inch exchange aggregator took the opportunity to promote its product, offering fee-free transactions and MEV protection.

Therefore, to accurately predict how much revenue Uniswap can generate from interface fees in a year, it may be necessary to reassess the situation after some time.

Uniswap Mobile Wallet Automatically Displays Assets on Various Chains

In addition to introducing the new fee mechanism, Uniswap also made a minor update to its mobile wallet last night.

The wallet interface now directly displays the asset balances on various chains without the need for manual switching.