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 Revenue Methodology

## 1. Overview

Uniswap Labs revenue represents interface fees collected by Uniswap Labs from users trading through their frontend applications. This metric captures fees from two main sources: traditional AMM swaps through Uniswap routers and Dutch auction orders through UniswapX. The calculation treats all collected fees as revenue on a 1:1 basis, converting token amounts to USD and aggregating daily across all supported chains.

## 2. Data sources

The methodology relies on several key blockchain data sources:

- **Token transfer events**: Parsed `Transfer` events from Ethereum, Arbitrum, Avalanche, Base, BSC, Polygon, and Optimism capturing fee payments to collector addresses
- **Transaction records**: Transaction data from all supported chains to identify user addresses and validate transaction context
- **UniswapX events**: Parsed `Fill` events from the `UniswapXDutchOrderReactor` contract on Ethereum to identify Dutch auction transactions
- **External data**: End-of-day token price feeds for USD conversion and token metadata for decimal correction

## 3. Step-by-step calculation

### Component A: UniswapX transaction identification
- **Purpose**: Identifies transactions involving UniswapX Dutch auction orders
- **Logic**: Extracts all `Fill` events from the `UniswapXDutchOrderReactor` contract on Ethereum, capturing the transaction hash, block timestamp, and swapper address for each Dutch auction order execution
- **Key fields**: `transaction_hash`, `block_timestamp`, `swapper` address for transaction matching

### Component B: Dutch auction fees
- **Purpose**: Captures fees collected from UniswapX Dutch auction orders
- **Logic**: Finds token transfers to collector addresses (specifically `0x37a8f295612602f2774d331e562be9e61b83a327` and `0x6460d14dbaeb27aefec8ebef85db35defa31c3b9`) within transactions identified as UniswapX orders. Only includes transfers from July 1, 2023 onwards and matches against the allowlisted UniswapX transactions
- **Key fields**: `amount` (token quantity transferred), `token_address`, `user_address` (from transaction originator)

### Component C: Traditional swap fees
- **Purpose**: Captures interface fees from traditional AMM swaps across all supported chains
- **Logic**: Identifies token transfers from known Uniswap router addresses to collector addresses across multiple chains. Each chain has specific router and collector address configurations. Transfers must occur between July 1, 2023 and December 25, 2025, as interface fees were eliminated after this date per the UNIfication proposal. Router addresses include universal routers and chain-specific routing contracts
- **Key fields**: `amount` (fee amount), `token_address`, `user_address` (transaction originator), `chain` identifier

### Component D: Fee consolidation and filtering
- **Purpose**: Combines all fee sources and applies data quality filters
- **Logic**: Unions Dutch auction fees and swap fees, then filters out specific denylisted tokens including problematic tokens like `0x63b420fb3294ba1d300ce5d3ba4bbca0f4fe5e3b`, `0xe4351fc54b6100d3f1741f321a959d45d69c23b1` (Dogeverse), and `0xa5be544049f2b4a9db97cf8852c8c99fca30ea2b` (Trump token) that may represent spam or invalid transfers
- **Key fields**: Consolidated `amount`, `token_address`, `chain`, `user_address`, and transaction identifiers

### Component E: USD conversion and decimal correction
- **Purpose**: Standardizes all fee amounts to USD values with correct decimal precision
- **Logic**: Applies the `convert_to_usd_and_correct_decimals` macro to convert token amounts to USD using end-of-day price feeds and adjusts for token-specific decimal places. This ensures all fees are comparable regardless of the original token denomination
- **Key fields**: `fees` (USD-adjusted amount), maintaining timestamp and identification fields

### Final aggregation
- **Combining components**: All processed fees are aggregated daily by chain using timestamp truncation to day granularity
- **Currency conversion**: USD conversion occurs before aggregation using end-of-day price feeds matched to the transaction date
- **Time aggregation**: Daily boundaries are defined by timestamp truncation, with all fees from a calendar day grouped together
- **Final calculation**: The `finalize_metric_fees` macro applies schema validation and fills any missing days with zero values. Revenue is then calculated by applying the `finalize_metric_revenue` macro, which treats fees as revenue on a 1:1 basis while ensuring compliance with the revenue schema structure and applying chain availability filters.

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

fees * take_rate (illustrative — revenue is observed directly per project, not derived from take_rate)

Fee revenue retained after supply-side payouts. Before cost of revenue (e.g. L2 DA fees) and before operating expenses.

Uniswap Labs

Revenue

Revenue

Competitive landscape

Chain breakdown