Uniswap hits $5.2M daily fees led by Robinhood Chain
Uniswap, the leading decentralized exchange, is generating about $5.2 million in daily fees, according to its founder, Hayden Adams. Data from DefiLlama confirms the figure at roughly $5.16 million over the past 24 hours.
Most of that fee activity is coming from Robinhood Chain, a new blockchain launched on July 1 and built on Arbitrum technology. Robinhood Chain alone contributed $4.38 million of Uniswap’s fees. In contrast, Ethereum, once Uniswap’s core market, only added about $296,000. Base was close behind at $288,000.
Robinhood Chain’s rapid rise
Robinhood Chain went live just two weeks ago, but trading activity has exploded. More than 220,000 traders are using it daily, and cumulative volume hit $1 billion in nine days. Uniswap was integrated as the main automated market maker from day one, with its v2, v3, v4, and UniswapX products all available at launch.
Over the past week, Robinhood Chain accounted for $10.98 million of Uniswap’s $20.1 million total weekly fees. That’s more than half. Uniswap also dominates the DEX space overall: across 47 chains, it logged $2.112 billion in 24-hour volume, more than five times PancakeSwap’s.
Governance vote on token burns
A key governance vote is underway that could extend Uniswap’s fee-and-burn mechanism to v4 pools. The “Snapshot” vote runs from July 7 to July 12 and would require anyone claiming fees from v4 pools to first burn an equivalent value of $UNI tokens. Early results show over 93% approval, with 13.9 million $UNI votes in favor. If passed, binding on-chain votes are expected the week of July 13.
The proposal would activate fees on three families of v4 pools across 11 blockchain networks, including Ethereum, Arbitrum, and Polygon. That would broaden the burn engine to its largest scope yet. Uniswap already holds a record of burning 186,000 $UNI in a single day last month.
However, liquidity providers have warned that the v4 fee switch could drive them away. Protocol fees are taken from what LPs earn, so fee-enabled pools will offer slightly lower returns than zero-fee pools.
UNI price and market context
$UNI is trading around $3.62, up roughly 35% from its early-July low of $2.70. But it remains about 92% below the all-time high of $44.97 reached in May 2021.
Hayden Adams posted on X that Uniswap is out-earning almost every crypto project except the stablecoin issuers behind USDC and USDT. But it’s important to note that these “fees” are not the same as protocol income. DefiLlama shows Uniswap’s 24-hour revenue at just $73,454. The bulk of the $5.2 million flows to liquidity providers, not to the treasury or token holders directly.
