Uniswap founder Hayden Adams shared on X that the protocol now collects roughly $5.2 million in fees per day. Data from DefiLlama backs this figure at $5.16 million over the past 24 hours. The surge is largely thanks to Robinhood’s two-week-old blockchain, which accounts for most of that fee flow.
Of the $5.16 million in fees Uniswap collected over 24 hours, DefiLlama attributes $4.38 million to Robinhood Chain. By comparison, Ethereum, which used to be the protocol’s core market, contributed only about $296,000. Base was close behind at roughly $288,000. Robinhood Chain, built on Arbitrum’s technology, went live on July 1. Trading activity on the blockchain has exploded since then, with more than 220,000 daily traders and cumulative volume hitting $1 billion in just nine days.
A key governance vote is underway
A current “snapshot” vote could extend Uniswap’s fee-and-burn mechanism to v4 pools. This mechanism is part of the UNIfication program approved in December 2025. It requires anyone who wants to claim fees from the protocol to first burn an equivalent value of $UNI tokens. The burned tokens are permanently removed from circulation. Early Snapshot results indicate over 93% approval, with about 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 different blockchain networks, including Ethereum, Arbitrum, and Polygon. This expansion would broaden the burn engine to its largest scope yet.
Uniswap’s fee dominance but thin revenue
Across all 47 chains it operates on, Uniswap logged $2.112 billion in 24-hour DEX volume, more than five times the next-largest exchange, PancakeSwap. Adams posted that the protocol was out-earning every crypto project except the stablecoin issuers behind USDC and USDT. However, it is 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.
Token price and burn record
$UNI is trading around $3.62, up roughly 35% from its early-July low of about $2.70. However, it remains about 92% below its all-time high of $44.97 from May 2021. Uniswap holds a record of burning 186,000 $UNI in a single day last month, surpassing the previous daily high of 134,000. Still, 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 those with zero fees.
