"An additional $27 million in annual revenue"…Uniswap surges 15% amid talks to expand fees
Summary
- Uniswap (UNI) is reported to have surged nearly 15% on discussions over expanding fees, trading in the low-$4 range.
- It said that expanding the fee switch to eight chains through a governance vote could generate about $27 million in additional annual revenue.
- CoinDesk reported that the fee expansion would be one of the most significant changes to Uniswap’s token economy since the reintroduction of fees late last year.
Forecast Trend Report by Period
Uniswap (UNI) jumped nearly 15% on discussions about expanding fees.
According to CoinMarketCap on the 26th (local time), Uniswap at one point traded in the $4.20 range, up about 15% from the previous day. As of 7:28 p.m. that day, Uniswap is trading at $4.03, up 13.69% from the previous day.
The sharp rise in Uniswap appears to be driven by the impact of a governance vote aimed at expanding fees. Uniswap governance is currently voting on a proposal to broaden Uniswap’s revenue-generating scope to multiple Layer 2 networks.
If the vote passes, Uniswap’s “fee switch” will be expanded to eight chains. In that case, it is expected to generate additional revenue of about $27 million per year. CoinDesk reported that “(the fee expansion) will be one of the most significant changes to Uniswap’s token economy since fees were reintroduced late last year.”
The broader upswing in the crypto market is also cited as a backdrop to Uniswap’s rally. Bitcoin (BTC) rose about 5% on the day, regaining the $68,000 level. Ethereum (ETH) also surged more than 8% on the day, reclaiming the $2,000 mark.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
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