Uniswap Labs collects fees from trades conducted through its interfaces.

Uniswap Labs, established by Hayden Adams in 2018, is a software development company that specializes in creating products for the Uniswap Protocol. This includes the development and maintenance of various applications like the Uniswap web app, a mobile wallet, and an NFT aggregator.

Uniswap Labs acts as a developer and maintainer of the Uniswap Protocol. The company functions independently from the decentralized governance of the protocol.

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Uniswap Labs

# Uniswap Labs Fees Methodology

## 1. Overview

This metric calculates the total daily fees collected by Uniswap Labs across their various products and chains. It measures the revenue generated by Uniswap Labs through interface fees charged on AMM trades via their router contracts and fees collected from UniswapX Dutch auction order execution. The metric captures fees from July 1, 2023 through December 25, 2025, when Uniswap Labs set interface fees to zero following the UNIfication governance proposal. This provides insight into Uniswap Labs' direct revenue streams from their trading interfaces and order routing services.

## 2. Data sources

The calculation uses several types of blockchain and external data:
- **UniswapX events**: Parsed `Fill` events from the `UniswapXDutchOrderReactor` contract on Ethereum to identify valid Dutch auction order executions
- **Token transfer events**: Multi-chain token transfer events from Ethereum, Arbitrum, Avalanche, Base, BSC, Polygon, and Optimism to capture fee payments
- **Transaction records**: Multi-chain transaction data to identify the original transaction senders and validate transfer context
- **End-of-day price feeds**: Token price data for USD conversion of fee amounts
- **Token metadata**: Token decimal information for proper amount normalization

## 3. Step-by-step calculation

### Component A: Dutch auction fees (UniswapX)
- **Purpose**: Captures fees collected by Uniswap Labs from UniswapX Dutch auction order execution on Ethereum
- **Logic**: First identifies valid UniswapX transactions by querying `Fill` events from the `UniswapXDutchOrderReactor` contract, extracting the transaction hash, timestamp, and swapper address. Then finds all token transfers within these transactions where the recipient is one of two specific Uniswap Labs collector addresses (0x37a8f295612602f2774d331e562be9e61b83a327 or 0x6460d14dbaeb27aefec8ebef85db35defa31c3b9). This captures the portion of each Dutch auction that goes to Uniswap Labs as a fee
- **Key fields**: `block_timestamp` for daily aggregation, `transaction_hash` for linking transfers to UniswapX fills, `token_address` and `amount` for the fee value, `user_address` from the original transaction sender

### Component B: AMM interface fees
- **Purpose**: Captures interface fees collected from traditional AMM swaps across multiple chains through Uniswap router contracts
- **Logic**: For each of seven supported chains (Ethereum, Arbitrum, Avalanche, Base, BSC, Polygon, Optimism), identifies token transfers from predefined Uniswap router contract addresses to predefined Uniswap Labs collector addresses. Each chain has its own set of router addresses (including Universal Router and other Uniswap routing contracts) and collector addresses where fees are sent. Filters transfers to the time period from July 1, 2023 through December 25, 2025, when interface fees were active. Links transfers to transaction records to capture the original user who initiated the swap
- **Key fields**: `block_timestamp` for daily aggregation, `chain` to identify the source blockchain, `token_address` and `amount` for the fee value, `user_address` from the transaction originator

### Component C: Data filtering and quality controls
- **Purpose**: Removes invalid or unwanted fee data before final calculation
- **Logic**: Excludes transfers involving specific denylisted token addresses (Dogeverse token 0xe4351fc54b6100d3f1741f321a959d45d69c23b1 and Trump token 0xa5be544049f2b4a9db97fca30ea2b) from both fee components. Also filters out another denylisted token (0x63b420fb3294ba1d300ce5d3ba4bbca0f4fe5e3b) during the combination step. Uses UNION DISTINCT to combine Dutch auction and AMM fees while avoiding double-counting of any duplicate records
- **Key fields**: All fee records are validated for token address exclusions before proceeding to currency conversion

### Final aggregation
- **Combining components**: Dutch auction fees and AMM interface fees are combined using a union operation, creating a single dataset of all Uniswap Labs fee collections across both UniswapX and traditional AMM products
- **Currency conversion**: All fee amounts are converted from their native token amounts to USD values using end-of-day price feeds, with proper decimal correction applied based on each token's decimal configuration
- **Time aggregation**: Timestamps are truncated to daily boundaries, and all fees within each day are summed together. Missing days are filled with zero values to create a continuous time series
- **Final calculation**: The final daily fee amount represents the sum of all USD-converted token transfers to Uniswap Labs collector addresses from both UniswapX Dutch auctions and AMM interface fees, providing a comprehensive view of Uniswap Labs' fee revenue across all their products and supported chains

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Total value users pay to use a protocol (gross fees, user-paid fees).

Uniswap Labs

Fees

Fees

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