Good news for Uniswap, one of the most important DEXs available to cryptocurrency investors. The decentralized exchange has announced the integration of Robinhood Connect, allowing US users to purchase crypto using funds from their Robinhood accounts, even through smartphone apps.
For the first Robinhood Connect customers, a special promotion offers $10 in USDC to those who purchase at least $10 worth of cryptocurrencies through the Uniswap app. The offer is designed to welcome new platform users.
To buy cryptocurrencies with Robinhood Connect on the Uniswap mobile app, users must first select the purchase icon, choose the cryptocurrency they want to buy, and enter the amount. After selecting "Continue," users are presented with a list of available providers based on their nationality, with Robinhood Connect accessible only from the United States. Users can complete the transaction by selecting Robinhood to finalize the purchase.
Uniswap Labs raises trading fees to 0.25%.
Uniswap Labs has also increased its trading fees from 0.15% to 0.25%. This increase applies to most transactions on the mainnet and Layer 2 networks, although swaps involving stablecoins and transactions between Ethereum and Wrapped Ethereum are exempt. To avoid the fee increase, users can use alternative interfaces to access the Uniswap protocol and complete transactions.
Meanwhile, Uniswap has faced increased regulatory scrutiny. The company's founder, Hayden Adams, announced receiving a Wells notice from the SEC.
A Wells notice is a formal communication sent by the United States Securities and Exchange Commission (SEC) to individuals or companies at the conclusion of an SEC investigation. The notice informs that the SEC intends to pursue legal action for securities law violations. Recipients generally have 30 days to submit a formal response, explaining why legal action should not be taken.
In March 2024, the community voted against a governance proposal aimed at modifying the platform's fee structure, which would have allowed revenue sharing among UNI token holders. The proposal aimed to give the decentralized autonomous organization (DAO) the power to adjust the fee mechanism, paving the way for the potential activation of the long-awaited "fee-switch" feature.