CandleFocus

Uniswap Thrives with $3.7 Billion in Fees and Expands Multichain

Author: Content Editor
Uniswap, a decentralized finance (DeFi) platform, continues to dominate the market with significant financial achievements. Liquidity providers on the platform have earned $3.7 billion in trading fees, showcasing the platform's active usage. Gas fees paid by Layer 1 and Layer 2 networks amount to $2.7 billion, indicating a growing demand for distributed trading despite the high costs of blockchain operations. Uniswap Labs has paid $62.6 million in trade fees, while the Uniswap DAO has not paid any fees yet. This distribution of fees raises concerns about future governance and distribution choices. Uniswap's presence is expanding across multiple chains, such as Ethereum and Base, which helps increase transaction volumes and user engagement. Ethereum remains the dominant chain, generating around 70% of total revenue. Uniswap is also making progress in monthly active users, with Ethereum having roughly 23% and Base accounting for around 30%. Uniswap has hinted at the release of UniChain, developed on the Optimism Superchain, showcasing its commitment to decentralized development within the Ethereum ecosystem. The native token of Uniswap, UNI, is currently trading at $7.64, experiencing a 3.44% increase in the last 24 hours, and daily trade volume has surged by 93% to $186.73 million.

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