Original Author: Haotian (X: @tmel0211)
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Uniswap will charge a fixed fee of 0.15% for 11 tokens traded through the official frontend
Editor's note: In the early morning of October 17th, Uniswap founder hyden announced on X that Uniswap Labs will start charging a 0.15% exchange fee for certain tokens in its web application and wallet from October 17th to sustainably fund Uniswap's operations. The above fee is separate from the Uniswap protocol fee switch, which is determined by Uniswap governance voting.
The announcement has sparked heated discussions. What "value" information does this "charging" announcement reveal? X KOL Haotian has interpreted the announcement by Uniswap founder hyden, and the Odaily Planet Daily has summarized it as follows:
Uniswap founder Hayden's "charging" announcement, although brief, reveals a lot of "value" information:
1) Uniswap's "charging" is not for profit, but to reduce costs and increase efficiency
Maintaining the frontend app and developing the mobile app for Uniswap is already a semi-centralized operational approach, which inevitably incurs a large amount of operational service costs. Especially expanding and promoting Uniswap Wallet is almost entirely centralized operation. Additional charges can effectively subsidize operational costs, support faster expansion of Uniswap's product matrix. If it's just about making money, Uniswap trying backend protocol code logic changes seems more effective. Making money will come faster, right?
2) Uniswap protocol and Uniswap Labs are two different things
Uniswap is trying to inform the Uni community users through this highly controversial unilateral "notification" that only the Uniswap protocol is decentralized, while the web and mobile terminals are owned by Uniswap Labs. The additional charges are likely just the beginning of "centralized" measures. Implementing KYC regulatory strategies in these channels will also be inevitable because no company's development can escape compliance issues. The 0.15 fee rate was announced directly without a vote, which already indicates the issue. Voting only affects changes to the Uniswap protocol itself.
3) Uniswap's future product matrix will compete with MetaMask
As everyone has seen, MetaMask, which has never issued tokens, is exploring commercialization with products such as institution MetaMask, MetaMask Snap, and portfolio dashboard. Occasionally hinting at token issuance news, the transaction fees are overflowing. This web2+web3 Pua business model, which earns money while standing and lying down, is truly enviable for Uniswap Labs. Uniswap's strategy of separating protocol and product is clearly paving the way for the commercial expansion of the future product matrix, strategically covering a larger and broader ecological position.
4) Uniswap's governance token may be isolated indefinitely
By making such a significant decision, even though Uni holders have shown protest and incomprehension, the official seems to completely disregard it. The value empowerment that everyone expects from Uni tokens has yet to materialize, and the governance rights have been stripped away. Even if voting is effective, how can the community's voting weight exceed the "official"? Sigh, the plight of token holders.
5) If users do not want to accept the 0.15% fee, they can choose to call the API interface of a third-party wallet or use other DeFi aggregators, provided that these interface services directly use the Uniswap backend protocol
But Uniswap may not necessarily worry about user loss. It seems to benefit the market's aggregators, but it's hard to say that all aggregators directly call the backend protocol. Uniswap Labs must have calculated the potential user loss and the revenue from the 0.15% fee, and made a trade-off.
Moreover, it is not unexpected that there will be some "phishing" front ends designed to bypass the 0.15% fee. In the end, the market will tell everyone that spending an extra 0.15% to choose the Uniswap official platform may be the safest and most reliable choice.
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