Uniswap Labs, the developer behind the popular Uniswap protocol, has announced that its total revenue has surpassed $50 million.
Uniswap Front-End Revenue Surpasses $50 Million
Uniswap Labs has seen significant growth in its revenue stream since implementing a 0.15% fee on transactions made through its web interface and wallet app in October.
The company’s decision to raise this fee to 0.25% in mid-April further boosted its earnings. The fees collected are directed exclusively to Uniswap Labs, marking a significant revenue milestone for the firm.
Year-to-date, total prepayment fees have increased more than thirteenfold, from $3.7 million in early January to more than $50.6 million currently.
Uniswap continues to be the leading decentralized exchange (DEX) in terms of trading volume, capturing nearly a third of total DEX volume in July. Uniswap handled $54 billion of the $154 billion total swap volume for the month.
Users who want to skip transaction fees can turn to DEX aggregators such as 1inch, Cowswap and Paraswap.
Despite the fees, Uniswap accounted for 25.7% of DEX activity in July, compared to 19.8% for the most prominent DEX aggregator, 1inch. These figures represent the share of monthly DEX activity generated by different platforms.
The impressive revenue growth underscores Uniswap’s dominance in the decentralized finance (DeFi) space and highlights its continued appeal to users despite the associated transaction fees.
*This is not investment advice.
