Uniswap Adds 0.15% Trade Fee; UNI Token Holders Cry, "Not Fair!"
Uniswap adds a 0.15% fee to some trades, but UNI token owners won't benefit. Many are upset with this decision by the popular crypto platform.
Uniswap, a big online exchange, has added a 0.15% fee on some trades. But people who own UNI tokens won't get any benefit from this new fee. The founder, Hayden Adams, claims that the new fee is different from the main Uniswap fee that UNI owners control.
UNI token owners are not happy because they feel overlooked. UNI's price has dropped 91% since its highest point. It was also reported that even though Uniswap worked well without UNI for two years, the Uniswap team introduced UNI to their system in 2020 eitherway.
Uniswap is a very popular crypto platform, with $3 billion in total value and trillions of dollars in trades.
The new fee will be added to trades with certain tokens like ETH, USDC, and WETH. But some trades, like stablecoins or ether swaps, won't have this extra fee. Adams says this small fee will support Uniswap and will be used for its growth.
UNI owners thought their money would help Uniswap grow. But they won't benefit from this new 0.15% fee.
Many people are criticizing this decision. Some say Uniswap is ignoring UNI, treating it as a joke. The Uniswap team didn’t always listen to UNI owners in the past. Big companies with many UNI tokens have more decision making power.
In the end, Uniswap will get more money from this new fee, but UNI token owners won't benefit. They decided this without even asking the UNI holders.
