Uniswap Thrives with $3.7 Billion in Fees and Expands Multichain

• Uniswap liquidity providers have earned $3.7 billion in trading fees, showcasing the platforms thriving decentralized finance ecosystem.
• Uniswaps expansion across multiple chains has significantly boosted its active user base and trading activity, particularly on Base.

Uniswap continues to prove its dominance in the decentralized finance (DeFi) market by significant financial milestones. Token Terminal statistics show that platform liquidity providers have earned $3.7 billion in trading fees overall, ample evidence of the platforms vibrant activity.

Layer 1 and Layer 2 networks have paid $2.7 billion in gas fees. This emphasizes the increasing desire for distributed trading in spite of somewhat expensive blockchain running expenses. Uniswap Labs has also paid trade fees totaling $62.6 million, but the Uniswap DAO, which runs the protocol, has not yet paid any fees.

This special structure highlights the governance paradigm whereby fees are mostly directed to liquidity providers and the platform instead of the DAO, therefore posing issues regarding future distribution and governance choices.

Uniswap Multichain Model Drives User Growth and Fee Distribution

Uniswaps impact keeps increasing as it spreads over other chains, including Ethereum and Base. By allowing it to serve a larger user base, this multichain model has helped it to boost transaction volumes and user interaction over multiple networks.

While the recently introduced Base chain has rapidly expanded to account for around 20% of total fees in a few months, Ethereum remains the dominant chain, producing around 70% of the total revenue.

Furthermore, with a varied distribution among chains, Uniswap is making notable progress in the monthly active users. While Base has become a fast expanding trading hub with around 30% of the active users on the network, Ethereum only boasts roughly 23% of active users.

Beside that, CNF previously reported that Uniswap hinted at the release of UniChain, developed on the Optimism Superchain, a ground-breaking creation improving speed, scalability, and cross-chain capability.

Using the MIT license for UniChain, Uniswap restates its dedication to decentralized development inside the Ethereum ecosystem.

Meanwhile, the native token of the DEX, UNI, is swapped hands about $7.64, up 3.44%over the last 24 hours, with daily trade volume exploding over 93% to $186.73 million.