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Uniswap has already generated over $ 1 billion in commissions for liquidity providers

The great decentralized exchange Uniswap has become the first decentralized finance (DeFi) protocol to generate more than $ 1 billion in platform fees for liquidity providers.

On Tuesday, Lucas Outumuro, head of research at cryptocurrency data aggregator IntoTheBlock, shared a graph on Twitter showing that Combined commission income from Uniswap’s Ethereum v2 and v3 mainnet deployments has exceeded $ 1 billion.

Including fees generated by both Uniswap v1 and its v3 deployment on Optimism, Outumuro noted that Approximately $ 1.02 billion has been distributed to Uniswap’s liquidity providers since the protocol was created in November 2018.

In contrast, the IntoTheBlock data shows that The Bitcoin network has generated $ 2.24 billion in commissions since its launch in 2009, while the increase in activity driven by DeFi on Ethereum has raised its total commission income to $ 4.74 billion in six years.

Uniswap just became the first protocol to exceed $ 1 billion in fees. Congratulations to the creator of the protocol and his team

But nevertheless, Axie Infinity game powered by Ethereum, has emerged as the leading decentralized application (DApp) by fee revenue in the last weeks. According to Token Terminal, Axie has driven $ 308.5 million in platform commissions in the last 30 days, which is equivalent to a daily average of almost USD 10.3 million.

According to data from Dune Analytics, the popular non-fungible token market (NFT) OpenSea also appears to have overtaken Uniswap in commission income recently, as the platform generates $ 4.2 million in daily commissions.. According to CryptoFees, Uniswap accounts for $ 3.9 million in daily commissions from the platform.

With the recent London updates to Ethereum, which introduced a burning mechanism to the network’s fee market on August 5, The increasing popularity of Ethereum-based DApps has resulted in the burning of Ether (ETH) worth $ 100 million and the mining of more than 1,000 blocks of deflation over the last week.

According to Ultrasound.Money, OpenSea currently ranks as Ethereum’s leading DApp in terms of burn rate, having burned 3,918 Ether (valued at $ 12.5 million) since London was launched.

Uniswap v2 ranks second with 2,344 Ether ($ 7.5 million), followed by Axie Infinity with 1,805 Ether (almost $ 5.8 million), and Tether (USDT) with 1,555 Ether ($ 5 million).

Keep reading:

Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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