Uniswap hits $5.2M in daily fees as Robinhood Chain drives surge

Uniswap generated $5.2 million in daily fees on July 12, with Robinhood Chain accounting for $4.38 million of the total, DefiLlama data shows.

"Robinhood Chain has quickly become Uniswap's largest fee source by volume, reflecting strong demand for low-cost swaps on the new Arbitrum-based network," Hayden Adams, founder of Uniswap, said.

Ethereum produced roughly $296,000 in Uniswap fees during the same 24-hour period, while Base added about $288,000, according to DefiLlama. Across the past seven days, Robinhood Chain generated $10.98 million of Uniswap's $20.1 million in total fees. The network's cumulative swap volume crossed $1 billion by July 10, just 10 days after its July 1 launch.

The fee milestone comes as Uniswap governance considers extending its UNI token burn mechanism to Robinhood Chain. A temperature check on the proposal runs from July 10 through July 15. If approved, protocol fees collected on the network would flow into TokenJar contracts, where searchers can claim them after supplying equivalent UNI value for permanent removal from circulation.

UNI traded near $3.62 on July 12, up about 35% from its early-July low near $2.70, though still roughly 92% below its 2021 peak. The token's price has tracked the surge in on-chain activity, with Robinhood Chain's total value locked reaching $122 million and stablecoin supply on the network hitting $300 million, per DefiLlama.

The distinction between fees and protocol earnings remains important for valuation. DefiLlama recorded only $73,454 in 24-hour protocol earnings for Uniswap, as most swap fees still flow to liquidity providers rather than the treasury or UNI holders. The proposed burn mechanism would redirect a portion of those fees to token holders, potentially altering the incentive structure for liquidity providers on Robinhood Chain pools.

Robinhood Chain's rapid growth mirrors the trajectory of Coinbase's Base network, which became one of the most active layer-2 ecosystems after its 2023 launch. However, early momentum does not guarantee sustained adoption — chains such as Berachain and Kraken's Ink saw initial activity spikes that later faded, according to DefiLlama data.

This article is for informational purposes only and does not constitute investment advice.