{"id":7741,"date":"2021-08-12T06:16:02","date_gmt":"2021-08-12T05:16:02","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=7741"},"modified":"2021-08-12T06:16:05","modified_gmt":"2021-08-12T05:16:05","slug":"uniswap-generates-more-than-1b-in-fees-for-liquidity-providers","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/uniswap-generates-more-than-1b-in-fees-for-liquidity-providers\/","title":{"rendered":"Uniswap generates more than $1B in fees for liquidity providers"},"content":{"rendered":"\n
Since the inception of Uniswap <\/a>in November 2018, more than $1 billion in fees has been produced for the liquidity providers who use the platform.<\/h5>\n\n\n\n
\"Uniswap<\/figure>\n\n\n\n

Uniswap\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>, a leading decentralised exchange, has become the first DeFi protocol to produce more than $1 billion in platform fees for liquidity providers, making it the first of its kind.<\/p>\n\n\n\n

According to a figure provided on Twitter by Lucas Outumuro, head of research at crypto data aggregator IntoTheBlock, the aggregate fee income of Uniswap's v2 and v3 Ethereum mainnet deployments have reached $1 billion in the past month.<\/p>\n\n\n\n

Outumuro estimates that about $1.02 billion has been disbursed to Uniswap liquidity providers since the protocol's inception in November 2018. This figure includes fees produced by both Uniswap v1 and its v3 deployment on Optimism.<\/p>\n\n\n\n

According to IntoTheBlock's data, the Bitcoin network has generated $2.24 billion in fees since its inception in 2009, whereas the DeFi-driven boom in activity on Ethereum <\/a>has increased the network's total fee revenue to $4.74 billion in six years.<\/p>\n\n\n\n

@Uniswap just became the first protocol to surpass $1B+ in fees <\/p>

Congrats to @haydenzadams and team pic.twitter.com\/pnA10t41Yo<\/p>\u2014 Lucas Outumuro (@LucasOutumuro) August 10, 2021<\/cite><\/blockquote>\n\n\n\n

However, in recent weeks, the rapidly growing Ethereum-powered game Axie Infinity has risen to become the leading DApp in terms of fee revenue. It is estimated that Axie <\/a>has generated $308.5 million in platform fees over the past 30 days, amounting to an average of almost $10.3 million every day, according to Token Terminal.<\/p>\n\n\n\n

The popular NFT marketplace OpenSea looks to have recently surpassed Uniswap in terms of fee revenue, with the platform collecting $4.2 million in fees every day, according to statistics from Dune Analytics. In terms of platform fees, Uniswap generates $3.9 million in daily revenue, according to CryptoFees.<\/p>\n\n\n\n

In response to the recently released London upgrades, which introduced a burn mechanism into the network's fee market on August 5, the soaring popularity of Ethereum<\/a>-based decentralised applications (DApps) has resulted in the burning of more than $100 million worth of Ether and the mining of more than 1,000 deflationary blocks in the last week.<\/p>\n\n\n\n

According to Ultrasound.Money, OpenSea presently ranks first among Ethereum DApps in terms of burn rate, having destroyed 3,918 Ether (worth $12.5 million) since the London launch of the platform..<\/p>\n\n\n\n

Tether is in second place with 1,555 Ether ($5 million), followed by Axie Infinity<\/a> in third place with 1,805 Ether (almost $5.8 million), and Uniswap v2 in fourth place with 2,344 Ether ($7.5 million).<\/p>\n","protected":false},"excerpt":{"rendered":"

Since the inception of Uniswap in November 2018, more than $1 billion in fees has been produced for the liquidity providers who use the platform. Uniswap , a leading decentralised exchange, has become the first DeFi protocol to produce more than $1 billion in platform fees for liquidity providers, making it the first of its […]<\/p>\n","protected":false},"author":13,"featured_media":7743,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[152,128,2138,973],"class_list":["post-7741","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-ethereum","tag-outumuro","tag-uniswap"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2021\/08\/image-133.png","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7741","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=7741"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/7741\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/7743"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=7741"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=7741"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=7741"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}