Starting on April 10, Uniswap Labs implemented a new swap fee of 0.25%. On the same day, Hayden Adams, the creator of the company, said that they had received a Wells Notice from the US Securities and Exchange Commission (SEC).
The most recent update from Uniswap Labs states that the cost is applicable to all networks that use Uniswap and covers a wide variety of trading pairings, with certain exceptions for wrapped token and stablecoin pairs. By using alternate interfaces that are not created by Uniswap Labs, users can avoid paying this cost.
In mid-October of the previous year, Uniswap began charging swap fees. The corporation assessed a flat fee of 0.15% at the time, justifying it as a component of a plan for long-term, sustainable business growth.
The Uniswap community reacted differently to the implementation of these fees after the initial announcement. Some members were unhappy with the extra expense, but others backed the choice for the project's viability.
The protocol charge was the sole expense Uniswap users had to pay prior to the introduction of the interface fee.
While Uniswap claims the fee is necessary to ensure sustainable operations, there is conjecture that it may also serve to defray legal costs in the event of a dispute with the SEC.
The interface fee is distinct from the Uniswap Protocol fee switch, according to Uniswap Labs. Uniswap has previously proposed in March to give holders of its native UNI coin a share of swap fee income.
The price of the UNI token fell to about $7.4, according to CoinGecko data, down about 34% in the previous week as a result of the SEC's lawsuit threat and the general negative trend in the cryptocurrency market last weekend.
April 2024, Cryptoniteuae