Uniswap sets a new DeFi record by becoming the first protocol to generate $1 billion in fees
Leading decentralized exchange (DEX) Uniswap has hit a major milestone in fee generation, becoming the first DeFi protocol to cross the $1 billion benchmark.
Lucas Outumuro, the head of research at crypto data aggregator IntoTheBlock, made the disclosure through a chart in a tweet showing the combined fee revenues of Uniswap’s v2 and v3 Ethereum mainnet deployments.
His tweet was subsequently retweeted by Hayden Adams, the founder of the Uniswap protocol.
🦄 @Uniswap just became the first DeFi protocol to generate $1b in fees https://t.co/44Jo7x2eP2
— hayden.eth 🦄 (@haydenzadams) August 10, 2021
The data shows that Uniswap v2 accounts for three-quarters of the total sum. This does not come as a surprise since v3 was launched earlier this year.
According to CryptoFees, Uniswap generated an average of $3.89 million per day in the past week. On a broader scale, Ethereum is currently leading the charge in terms of daily fees, with an average of $18.9 billion daily over the past week. Binance Smart Chain closely follows Uniswap in third place with an average daily fee count of $2.6 million. Surprisingly, Bitcoin is sitting in sixth place with $568,000 generated per day.
UNI, the native token of Uniswap has gained a whopping 48% in the past two weeks but still trails its all-time high of $45 by 47%.
