2024-05-01
Uniswap has recently announced its integration with Robinhood Connect, enabling users in the United States to purchase cryptocurrencies through their mobile app.
This integration allows users to use funds from their Robinhood accounts, debit cards, or bank transfers to buy crypto on the Uniswap Platform.
As a special promotion for first-time Robinhood Connect customers, a minimum purchase of $10 of crypto via the Uniswap app will provide them with $10 in USDC.
This incentive is specifically designed to attract new users to the platform.
To make a crypto purchase with Robinhood Connect on the Uniswap mobile app, users need to select the buy icon, choose the desired crypto, and enter the purchase amount.
After selecting "Continue," a list of available providers based on the user's region will be displayed, with Robinhood Connect accessible only in the United States.
Users can then finalize their purchase by selecting Robinhood Connect as their provider.
Uniswap Labs has recently increased its trading fees from 0.15% to 0.25% for most transactions on the mainnet and Layer 2 networks.
However, transactions involving stablecoins and transfers between Ethereum and Wrapped Ethereum are exempt from this fee increase.
Users can opt to use alternative interfaces to access the Uniswap protocol and complete transactions in order to avoid the higher fees.
In addition to these developments, Uniswap has been facing increased regulatory scrutiny.
The company's founder, Hayden Adams, revealed that the SEC had issued a Wells Notice, indicating potential legal action due to Uniswap operating as an unlicensed exchange.
Adams emphasized that Uniswap Labs primarily functions as a software development shop and plays a crucial role in the ongoing development of the Uniswap protocol.
In March 2024, the community voted against a governance proposal aimed at modifying the platform's fee structure, which would have enabled revenue sharing among UNI token holders.
The proposal intended to empower the decentralized autonomous organization (DAO) to adjust the fee mechanism, paving the way for the activation of the long-awaited "fee-switch" feature.
