According to founder Hayden Adams, Uniswap's fee switch went live today, July 13, with the protocol generating approximately $5.2 million in daily fees, ranking second globally behind only Tether and Circle. UNI traded near $3.50.
Protocol fees now accumulate onchain and can only be claimed through UNI burns, automatically directing revenue to token buybacks and burns rather than a treasury. The mechanism is already operational across v2 and selected v3 pools on 11 chains, with liquidity providers receiving 0.25% fees while the protocol retains 0.05% for the burn pool.