Uniswap Posts Record $14.81 Million in September Protocol Revenue; Robinhood Chain Contributes 53%
Uniswap, the decentralized exchange, posted its highest-ever monthly protocol revenue in September, with more than half of the total generated on Robinhood Chain.Crypto media outlet Crypto Briefing reported on October 17 that Uniswap recorded $14.81 million in protocol revenue in September, the largest monthly total on record.Robinhood Chain accounted for 53% of that amount, or about $7.8 million. The Ethereum layer-2 network launched on July 1, and rising trading in tokenized stocks is seen as having driven the increase in Uniswap's revenue.Uniswap's average fee rate per trade on Robinhood Chain was 0.465%, more than double the network-wide average of 0.214%.Uniswap also captured a large share of trading volume. On September 1, Robinhood Chain's daily trading volume reached $1.95 billion, of which $1.75 billion was processed through Uniswap liquidity pools.Uniswap was integrated as a key automated market maker, or AMM, from Robinhood Chain's launch and supports v2, v3, v4 and UniswapX. The protocol began charging fees on July 27, about four weeks after launch.However, Robinhood Chain's daily transaction count fell by more than 40% in early October. That means it remains to be seen whether the trading activity that drove September revenue can be maintained at the same level going forward.