Recently, it was said that Uniswap wants up to $20 million to put its protocol on new chains. However, Hayden Adams, the CEO of the company, strongly denied these claims. On the social networking site X, some people said that Uniswap’s prices were way too high.
Adams responded to these claims on September 12 on X, making it clear that Uniswap Labs and the Uniswap Foundation do not charge anything for installing protocols. He made it clear that tasks are chosen by the people who vote for the government and are based on the work that needs to be done, not on making money.
The fight began when Alexander, who used X, said that Uniswap was asking for $20 million for a rollout that wouldn’t work. This claim came after a tweet from Kene Ezeji-Okoye, co-founder of Millicent Labs. In the tweet, he said that Uniswap charged $10 million for rolling out a protocol and another $10 million in bonuses for selling carbon credits.
To these claims, Adams replied that Uniswap’s way of rollout is fully open and based on community control, not fees. His message to users was that Uniswap would stay true to its autonomous principles and that there would be no charges to use its system.
As of late, officials have been looking into Uniswap. This platform is known for making it easy to trade coins and offering liquidity on many blockchain networks. It was charged by the U.S. Commodity Futures Trading Commission (CFTC) on September 4, 2024, that Uniswap Labs gave dealers money without permission. As part of the deal, Uniswap paid a $175,000 fine and promised to follow the rules.
The US Securities and market Commission (SEC) said in early April 2024 that Uniswap was running an unlisted stock market. Uniswap replied that it was a software company and not an exchange or broker. It also said that the SEC’s way of controlling was wrong.
Uniswap is still the best decentralized finance (DeFi) tool, even though these rules are making it hard to use. It had locked in about $4.35 billion in value as of September 12, 2024.
