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Uniswap has now generated more than $1B in fees for liquidity providers

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As we reported earlier, the improvement of the Ethereum EIP-1559 network as part of the London hard fork has already burned about $ 100 million. The NFT OpenSea trading platform takes the lead in terms of the amount of commissions burned, followed by the Uniswap decentralized exchange. The protocol was the first DeFi to generate $ 1 billion in commission. This mark is an important achievement for the network.

It took the project almost 3 years to overcome the level of $ 1 billion in commissions for liquidity providers. Moreover, Uniswap managed to bypass Bitcoin in terms of the speed of generating commissions.

The protocol developer Hayden Adams reported this on his Twitter profile. The founder has shared a timeline that combines the cumulative board generation for Uniswap v2 and v3. The graph created in collaboration with the head of research at the analytical service IntoTheBlock, Lucas Outumuro.

According to the published schedule, the version of the Uniswap v2 platform is more popular than other versions of the protocol. Of the total number of commissions, v2 accounts for about three quarters of the amount. Lucas Outumuro also notes that the actual amount including v1 and v3 on the Optimistic Ethereum Layer 2 scaling provider is in the order of $ 1.02 billion. The analyst also notes that the constant fees on the Bitcoin network are $ 2.24 billion. At the same time, fees on the Ethereum network reach $ 4.75 billion.

The value of funds locked up in Uniswap, deployed in the DeFi decentralized finance marketplace, is now just over $ 16.938 billion.

Recall that the UniSwap platform is deployed on Ethereum. She tops the ranking of decentralized crypto exchanges (DEX) in terms of trading volume.

Of the blockchain gaming applications (DApps), Axie Infinity turned out to be the most productive.

According to Token Terminal, over the past 30 days, transaction fees on this platform have exceeded $ 308 million. That is, on average, the application earned about $ 10 million daily in commissions.

Other data on Uniswap and Ethereum fees

It is worth noting that Ethereum is a strong leader in terms of daily commissions relative to other platforms. According to the CryptoFees service, over the past seven days, the blockchain has generated an average of $ 18.9 billion. At the same time, the Uniswap exchange is in second position, and the amount is about $ 3.9 million. The third place in the ranking is taken by the Binance Smart Chain platform with an average daily commission of $ 2.6 million. Bitcoin’s flagship asset is ranked sixth with a generated commission on the network of $ 568,836.

Fees on the Ethereum network have increased over the past week due to the sharp rise in gas prices. Largely driven by transactions involving NFTs, the average transaction cost is now around $ 20. At the moment, this is the highest level since the end of May. More complex activities, such as exchanging tokens for Uniswap, currently cost users $ 26 on average, according to the online tracker Etherscan.

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