- This fee only applies to trades made on the official Uniswap website or their official mobile wallet.
- It applies to major trading pairs such as ETH, WBTC and stables.< /li>
- The commission goes to Uniswap Labs and does not benefit UNI token holders.
Despite the fact that the Uniswap user interface is only 13% of the total trading volume, if you include active traders' behavior and exclude arbitrage transactions (MEV), its share remains significant, especially compared to aggregators.
Many people prefer to use the Uniswap web interface to trade popular meme coins due to lower gas fees compared to aggregators. Bots also conduct trades on Uniswap, but they only make up about 10% of the total number of active users.
This fee change initially affects only the major trading pairs, but there is uncertainty about expanding this measure to other pairs in the future.
Some claim that Metamask Swap also charges fees, but the user interface of Uniswap and Metamask are not comparable.
Additionally, the fees themselves are quite high and Uniswap presented a skewed comparison. The largest spot trading platform, Binance, charges just 0.1% fees, providing significant discounts for BNB holders and VIP Club members, and also charges no liquidity fees on Uniswap (which range from 0.05% to 1%).
Fees go to Uniswap Labs without benefiting UNI token holders, reinforcing the perception of UNI as a “worthless governance token.” In addition, the team sells significant volumes of UNI, which indicates that they do not have funding problems. Thus, this decision aimed at increasing income is puzzling.
Specifics
Trading fees will apply for the following tokens: ETH, USDC, WETH, USDT, DAI, WBTC, agEUR , GUSD, LUSD, EUROC, XSGD, WBTC, WETH, ETH. Fees will only be charged for transactions where payment is required for both the incoming and outgoing token. In addition, transactions between WETH and ETH, as well as between stables, are not subject to commission fees.
According to the official documentation, the trades for which you need to pay a commission will be indicated at the time of the trade, as shown in the image below. However, at the time of testing on October 17, these commissions had not yet been put into effect.
Is Uniswap trying to repeat the success of MetaMask?
Another product that the Uniswap team is now actively paying attention to is is their mobile wallet for end users, Uniswap Wallet.
On April 13, Uniswap announced that their mobile wallet is available for download in most countries and regions of the App Store. This wallet allows users to transact on the Ethereum mainnet, as well as the Polygon, Arbitrum and Optimism networks. The transaction cost is 2.55%. Additionally, it supports WalletConnect, NFT viewing, and notification functions.
It's worth noting that wallets are becoming an important segment in the Web3 industry, and self-managed wallets like MetaMask have seen their profits increase noticeably over the past few months.
On October 13, according to Scopescan monitoring, Symbolic Capital conducted 2 transactions through MetaMask in the amount of $4.15 million, bringing MetaMask an income of $34,000 (0.875% commission). Over the past month, MetaMask earned $1.23 million in fees, with about $740,000 (about 60%) coming from Symbolic Capital.
An interesting point: while the Uniswap Wallet application successfully appeared in the Apple Store and Google Play app stores, the MetaMask mobile application faced "mysterious withdrawal from publication." As of October 14, MetaMask has been temporarily removed from the Apple App Store in some regions.
MetaMask said: "We are aware that MetaMask cannot be downloaded from the App Store at this time. This is not due to malicious activity and our team is working diligently to resolve this issue. We expect MetaMask to be available again soon in the App Store, and we apologize for any inconvenience. MetaMask can still be used on Google Play for now." A few hours later, the app was again available for download on the App Store.
