Uniswap (UNI) has experienced a significant price surge of approximately 35%, now trading at around $3.62 after hitting a low of $2.70 in early July. This price rebound coincides with the protocol generating an impressive $5.2 million in daily fees, as confirmed by founder Hayden Adams and verified by DefiLlama at $5.16 million.

The primary factor contributing to this remarkable revenue is the recently launched Robinhood Chain, which went live on July 1. This blockchain, based on Arbitrum technology, has positioned Uniswap as its principal automated market maker from the outset. Out of the total daily fees, Robinhood Chain accounted for $4.38 million, overshadowing contributions from Ethereum and Base, which generated $296,000 and $288,000 respectively.

In a noteworthy development, trading volumes on the Robinhood Chain have surged approximately 20 times within a week, with Uniswap leading the charge. The chain reached a cumulative trading volume of $1 billion in just nine days and has attracted over 220,000 daily traders. Over a week, Robinhood Chain contributed $10.98 million to Uniswap’s total weekly fees of $20.1 million.

Globally, Uniswap's DEX volume reached $2.112 billion in a 24-hour period, significantly outpacing its nearest competitor, PancakeSwap, by more than five times. Adams remarked that Uniswap is currently out-earning almost all crypto projects, except for the stablecoin issuers behind USDC and USDT. However, it is important to clarify that the reported $5.2 million does not reflect protocol revenue, as the actual revenue for Uniswap stands at $73,454, with most of the fees directed to liquidity providers.

In governance matters, a recent vote conducted from July 7 to July 12 aimed to extend the fee-and-burn mechanism to v4 pools, with early results indicating a resounding 93% approval rate from the community, totaling 13.9 million UNI votes. If implemented, this proposal would activate fees across three categories of v4 pools spanning 11 blockchain networks, including Ethereum, Arbitrum, and Polygon. Last month, Uniswap set a record by burning 186,000 UNI in a single day, though liquidity providers have voiced concerns that the new v4 fees could marginally impact their returns.

This material is for informational purposes only and should not be considered financial advice.