UNISWAP PROTOCOL REVENUE NEARLY TRIPLES AFTER V4 FEE SWITCH AS UNI TOPS $4

Summary from the TLDR Crypto newsletter

Uniswap's v4 fee switch, activated July 27, pushed daily protocol revenue from ~$114,000 to ~$325,000 within three days, directing those funds to UNI burns totaling ~$28 million since December. Robinhood Chain generated over half of 24-hour revenue at $170,353, with Ethereum contributing $81,866 (+82% week-over-week), Base $48,398, and Arbitrum $16,546. UNI rose 12% in 24 hours to ~$4.40, up 16% on the week, as governance approved the mechanism with 46.6 million UNI votes across seven chains. A technical dispute centers on LP impact: v4 charges traders 5 basis points on top of LP fees rather than extracting from LP earnings as v2/v3 do, but critics including Panoptic's Guillaume Lambert argue aggregator routing around costly pools will pressure LPs to lower fees to compete, absorbing the protocol cost regardless.