Uniswap sets a new DeFi record by becoming the first protocol to generate $1 billion in fees
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Uniswap sets a new DeFi record by becoming the first protocol to generate $1 billion in fees

Saudu Clement
Saudu Clement

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.

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%.