According to PANews, Uniswap Labs, the development company behind the Uniswap protocol, has accumulated more than $50 million in front-end fees. In October, the protocol charged a 0.15% fee on user transactions on its web interface and wallet application. These fees are only used by Uniswap Labs, marking a source of income for the company.
In mid-April, Uniswap Labs raised this fee on its interface from 0.15% to 0.25%. Year-to-date, cumulative fees have increased more than thirteen-fold, from $3.7 million on January 1 to more than $50.6 million now.
Meanwhile, Uniswap remains the largest DEX by volume, accounting for nearly a third of overall DEX volume in July. For example, according to The Block’s data dashboard, Uniswap accounted for $54 billion of the $154 billion in total Swap transactions that month.
