Uniswap has incurred more than $1 billion in fees for its liquidity providers

Since its launch in November 2018, Uniswap has created more than $1 billion in fees for liquidity providers. With the recent London upgrade of Ethereum launched on August 5, Uniswap v2 currently ranks second with 2,344 Ether ($7.5 million) in terms of Ethereum DApp burn rate.

The leading decentralized exchange Uniswap has become the first decentralized finance (DeFi) protocol that generates platform fees worth more than $1 billion for liquidity providers.

On Tuesday, Lucas Outumuro, research director of IntoTheBlock, a cryptocurrency data aggregation agency, shared a graph on Twitter showing that the sum of Uniswap’s v2 and v3 Ethereum mainnet fee income has exceeded $1 billion.

Outumuro pointed out that since the creation of the agreement in November 2018, including Uniswap v1 and its v3 deployment on Optimism, approximately $1.02 billion has been allocated to Uniswap liquidity providers.

In contrast, data from IntoTheBlock shows that the Bitcoin network has incurred $2.24 billion in fees since its launch in 2009, while DeFi’s activities on Ethereum have surged, increasing its total fee income to $4.74 billion in six years. .

“@Uniswap has just become the first agreement to charge more than $1 billion

Congratulations to @haydenzadams and the team”

– Lucas Outumuro(@LucasOutumuro)2021年8月10日

However, in recent weeks, the Ethereum-based game Axie Infinity has become the leading decentralized application (DApp) in terms of fee revenue. According to data from Token Terminal, Axie has promoted a platform fee of 308.5 million US dollars in the past 30 days, which is equivalent to an average of nearly 10.3 million US dollars per day.

According to Dune Analytics, the popular non-fungible token (NFT) market, OpenSea, recently appeared to have surpassed Uniswap in terms of fee income, with the platform generating $4.2 million in fees per day. According to CryptoFees data, Uniswap’s daily platform fee is $3.9 million.

With the recent London upgrade of Ethereum that introduced the destruction mechanism to the network charging market on August 5, the popularity of Ethereum-based DApps has surged. In the past week, 100 million US dollars worth of Ether was burned and more than 1,000 deflationary blocks were burned. Was dug out.

According to data from Ultrasound.Money, OpenSea has destroyed 3,918 Ether (worth $12.5 million) since its launch in London, and currently ranks first in the Ethereum DApp destruction rate.

Uniswap v2 ranked second with 2,344 ether (7.5 million USD), followed by Axie Infinity’s 1,805 ether (nearly 5.8 million USD), and Tether (USDT) with 1555 ether (5 million USD).

Author: SAMUEL HAIG

 

Posted by:CoinYuppie,Reprinted with attribution to:https://coinyuppie.com/uniswap-has-incurred-more-than-1-billion-in-fees-for-its-liquidity-providers/
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