Fees for liquidity providers have totaled more than $1 billion

• Since its November 2018 inception, Uniswap has generated more than $1 billion in fees for its liquidity suppliers
• According to Outumuro, Uniswap liquidity providers have received around $1.02 billion
• Since its introduction in 2009, the Bitcoin community has produced $2.24 billion in fees, according to IntoTheBlock’s information

Since its November 2018 inception, Uniswap has generated more than $1 billion in fees for its liquidity suppliers. Uniswap, a leading decentralized exchange, has become the first DeFi protocol to earn platform fees worth more than $1 billion for liquidity providers. The cumulative fee income of Uniswap’s v2 and v3 Ethereum mainnet installations have topped $1 billion, according to a chart provided on Twitter by Lucas Outumuro, head of research at crypto data aggregator IntoTheBlock.

Uniswap generates an estimated amount, according to Outumuro

Outumuro estimates that from the protocol’s inception in November 2018, $1.02 billion has been given to Uniswap liquidity providers, including fees produced by both Uniswap v1 and v3 deployments on Optimism. According to IntoTheBlock’s research, the Bitcoin network has generated $2.24 billion in fees since its 2009 introduction, whereas Ethereum’s total fee revenue has increased to $4.74 billion in six years thanks to the DeFi-driven rise inactivity.

However, in recent weeks, Axie Infinity, a popular Ethereum-powered game, has surpassed all other DApps in terms of fee revenue. Axie has generated $308.5 million in platform fees in the last 30 days, according to Token Terminal, amounting to a daily average of approximately $10.3 million.

OpenSea just overtook Uniswap in terms of fee revenue

According to Dune Analytics statistics, prominent NFT marketplace OpenSea just overtook Uniswap in terms of fee revenue, with the site generating $4.2 million in fees each day. Uniswap generates $3.9 million in daily platform fees, according to CryptoFees.

With Ethereum’s latest London upgrades bringing a burn mechanism into the network’s fee market on August 5, the growing popularity of Ethereum-based DApps has resulted in the burning of $100 million in Ether and the mining of over 1,000 deflationary blocks in the last week.

OpenSea is currently the highest Ethereum DApp by burn rate, according to Ultrasound. Money, having destroyed 3,918 Ether (worth $12.5 million) since London went live. With 2,344 Ether ($7.5 million), Uniswap v2 is in second place, followed by Axie Infinity with 1,805 Ether (almost $5.8 million), and Tether with 1,555 Ether ($5 million).