Short-term Uniswap (UNI) holders in loss as investors dump
Uniswap (UNI) investors have been dumping the asset as the decentralized finance (defi) protocol started to charge swap fees. Uniswap founder Adam Hayden announced on Oct. 16 that the protocol will start charging a 0.15% swap fee to continue its operations. Both wallet and web application users would have to pay the fee to swap tokens, according to a crypto.news report. Moreover, users found a know-your-customer (KYC) verification hook in the open directory of Uniswap V4. Following the introduction of swap fees and KYC procedure, users on X (formerly Twitter) call the defi protocol “centralized.” You might also like: Uniswap to charge 0.15% swap fees in web app and wallet Expert believes that KYC verification is necessary for Uniswap’s long-term survival despite all the criticism the protocol has faced from its users. According to the market intelligence platform Santiment, investors have begun dumping UNI tokens as the platform started to charge swap fees. ...