fees

According to the analysis by the crypto venture capital firm 1kx (@1kxnetwork), on-chain fees in the second quarter of this year decreased by 33% year-on-year, with DEX fees dropping by $625 million (-57%), mainly dragged down by Meteora, Raydium, and PancakeSwap, which together generated $1.5 billion in fees in the first half of last year; blockchain and MEV fees decreased by $362 million (-40%); launch platform fees fell by 57%, with Pump.fun contributing nearly half of the decline.Some sectors achieved counter-cyclical growth: perpetual contract and prediction market fees increased by 22% year-on-year, led by edgeX and Hyperliquid, with Polymarket contributing nearly $100 million in a single quarter; the lending and asset management sectors continued to grow, with Morpho, USDai, and Maple Finance each increasing by $9 million to $19 million; Canton Network added $179 million in L1 fees, but most of this was driven by incentives. Despite the overall decline in industry fees, token holder distribution returns remained stable, with Binance burn still accounting for a significant share, and protocols like Hyperliquid have incorporated buybacks and burns into their regular policies.

Uniswap founder Hayden posted on the X platform that Uniswap has just submitted two governance proposals for final on-chain voting, including enabling v2 and v3 protocol fees on the Robinhood Chain, as well as enabling v4 protocol fees on Ethereum, Base, Arbitrum, Robinhood, BNB, Polygon, and Optimism. The remaining third proposal related to v4 chain is about to be submitted.Both proposals will direct all new protocol fees into the existing UNI burn mechanism. Based on the current trading volume, especially the trading volume related to Robinhood, the impact on UNI burn is expected to be significant.

According to on-chain research conducted by Dune Analytics for the DEX aggregator 1inch, an average of 85% of concentrated liquidity funds in decentralized exchanges were underutilized in the first half of 2026, with 29.5% completely outside the active price range, resulting in approximately $542 million in idle funds each week.Dune estimates that liquidity providers outside the range lose about $150 million in fee income annually. The study covers around 200 of the most active pools on Uniswap v3, PancakeSwap v3, Aerodrome Slipstream, and Uniswap v4, spanning seven chains with a total of 26 weekly snapshots, with an average TVL of approximately $1.84 billion.Data shows that idle funds are mainly concentrated in personal wallets, and automated management tools and bots tend to keep positions within the range. On Base Uniswap v3, personal accounts account for 82% of idle funds. About one-third of idle funds have not been adjusted for over 90 days. Dune attributes the main cause of idleness to asset pairs and their volatility rather than the trading platform, even though about 30% of stablecoin pairs are also outside the range.

Interactive Brokers announced on Tuesday the expansion of its digital asset business, adding trading tokens such as Aave, Aptos, Canton, Lido DAO, Monad, NEAR Protocol, Plasma, Pax Gold, and Uniswap, and supporting 24/7 stablecoin wallet transfers via USDC, PYUSD, and RLUSD.As of mid-2026, Interactive Brokers manages approximately $930.3 billion in client assets, with cryptocurrency trading commissions starting at 0.12% to 0.18% of the total transaction amount, with a minimum order fee of $1.75, and no additional spreads, markups, or custody fees. The company stated that accounts in the UK and Ireland cannot use stablecoin two-way deposits, and clients of the Irish affiliate cannot access the newly launched crypto assets.

Ethereum co-founder Joseph Lubin stated that Ethereum L1 transaction fees should remain low to promote ecosystem growth. It is expected that in the next 2 to 3 years, tens of thousands of companies will deploy on Ethereum L1, L2, and permissioned EVM networks, achieving cross-layer interoperability.Lubin believes that large-scale adoption will enhance the monetary premium of ETH and the total transaction fee revenue of L1. At the same time, staking and other locking mechanisms will reduce circulating supply. If ETH returns to a net destruction state, its value is expected to rise further.

According to The Block, the Benchmark Report released by Borderless.xyz for Q2 2026 shows that the delivery quotes for stablecoin cross-border payments in each month of the second quarter were all below the interbank foreign exchange rate midpoint. Data covering 108 countries and 260 payment corridors indicates that the median "parity spread" for the quarter was -3.2 basis points, further widening to -5.9 basis points in June, marking the deepest negative value of the year.The report also shows that the typical delivery cost for a $10,000 cross-border payment in the second quarter was approximately $27, and it has remained around this level for five consecutive months. If companies only connect to a single service provider in the long term, they will pay an average of about $2,330 more compared to the optimal quote for every $1 million payment scale, known as the "routing tax."Regionally, the African market showed the most significant fluctuations, with the price point spread widening by 166 basis points to 512.8 basis points; Latin America compressed to 89.0 basis points, while Asia remained relatively stable at 6.1 basis points. In specific corridors, Malawi experienced a one-day repricing of 5.8% on April 9, with the typical spread jumping from about 296 basis points to 1975 basis points.

According to BLOCKMEDIA, the South Korean police are investigating a case of political interference in the competition of the cryptocurrency market. A former assistant to independent lawmaker Kim Byung-ki is accused of pressuring the Financial Supervisory Service (FSS) in February last year to force Upbit to terminate its fee waiver activities for $USDC and $USDT, in order to alleviate the financial pressure on its competitor Bithumb, which was suffering due to a zero-fee promotion.The suspicion arises from the fact that the assistant obtained an informal advisory position at Bithumb months after the interference, while at the same time, the lawmaker's son was also hired by the exchange as an intern. Bithumb denies any knowledge of political interference and insists that the fee adjustments were independent business decisions.

DeFiLlama data shows that Uniswap's trading fees in the past 24 hours were approximately $5.027 million.Uniswap founder Hayden Adams stated that Uniswap's daily trading fees are second only to Tether and Circle, and significantly higher than projects like Hyperliquid and Pump.

Uniswap founder Hayden posted on the X platform, stating that many people have not noticed that the Uniswap protocol fees have been activated and UNI has been burned. He continues to receive replies believing that the protocol fees have not been activated.Currently, there are 3 governance proposals being voted on: 1) Robinhood Chain fees (v2/v3); 2) v4 fees; 3) fee bridge cleanup on xlayer, ava, megaeth, sonium.

Offchain Labs co-founder Steven Goldfeder posted on the X platform that as enterprise adoption accelerates, Arbitrum is ready to capture revenue. 10% of the fees collected by Robinhood Chain and all other Arbitrum L2s will flow into the Arbitrum ecosystem—8% will go into a treasury controlled by token holders, and 2% will be used to fund development.100% of the fees collected on Arbitrum One will be allocated to the Arbitrum treasury. According to previous reports, Robinhood Chain is an Ethereum Layer 2 network built on the Arbitrum tech stack.

Strategy founder Michael Saylor stated that after a decade of concerns about the lack of block space and controversies surrounding non-monetary uses, Bitcoin still does not have the so-called "spam transaction problem." Currently, the Bitcoin network transaction fee is about 1 sat/vB, and anyone can quickly transfer any amount of Bitcoin globally at a cost of approximately $0.3.The market's free mechanism has been addressing the challenges faced by Bitcoin block space.

According to official news, Uniswap Labs has released a temperature check proposal, suggesting the activation of protocol fees in the v4 pool. This proposal follows the rapid governance process previously approved by UNIfication and will directly enter a five-day Snapshot voting period, followed by on-chain voting.Due to the Hook architecture of v4 making fee settings more complex than v2/v3, the proposal has designed the V4 Fee Controller system, which includes two core contracts: V4FeePolicy calculates the fees for any pool based on governance rules, and V4FeeAdapter is responsible for executing governance overrides and collecting fees into TokenJar. Fees are calculated hierarchically based on the family of the pool: first checking the specific trading pair rate set by governance, then the family default rate, and finally the global default rate.This proposal aims to activate fees for three types of pool families across 11 chains including Ethereum, Arbitrum, Base, and BNB Chain: static rate pools without Hooks, CCA pools after continuous liquidation auctions, and aggregator Hook pools. The rates for aggregator Hook pools are adjusted by a 25x multiplier, with a default of 10 bp for non-Base chains (3 bp for stablecoin pairs) and a default of 3 bp for Base chains (1 bp for stablecoin pairs). All fees will flow into each chain's TokenJar, and the amount of UNI burned on L2 and Alt-L1 will be cross-chain bridged to the Ethereum mainnet and sent to the 0xdead address.The Snapshot voting window is from July 7 to July 12, and on-chain voting will start during the week of July 13. Since GovernorBravo limits each proposal to 10 actions, two on-chain votes will be submitted in parallel to cover all chains.

The Ethereum Glamsterdam hard fork entered the final development testnet phase on Tuesday, locking in ten EIP proposals, positioned as the largest protocol upgrade since the merge.The two core proposals are: EIP-7732, which directly writes the proposer-builder separation (ePBS) into the consensus layer, replacing the current reliance on off-chain relays like MEV-Boost; and EIP-7928, which introduces block-level access lists (BALs), allowing validators to process unrelated transactions in parallel. The combination of these paves the way for a 200 million Gas limit, increasing approximately three times from the current level of about 60 million, with theoretical throughput reaching around 10,000 TPS.On the user side, EIP-2780 is expected to make standard ETH transfers up to 71% cheaper. The mainnet activation date has yet to be determined and must first complete validation on the Holesky and Hoodi testnets. Based on historical rhythms, it is expected to go live between September and December 2026. The 200 million Gas limit is a design goal rather than a fork-enforced value, ultimately to be gradually increased by validators through Gas voting signals.

According to The Defiant, after the market correction in early June, the fees for major DeFi lending protocols and DEXs have significantly declined.In the past 7 days, Aave V3 fees decreased by 60% to $6.72 million, Morpho Blue decreased by 60% to $3.27 million, and Maple Finance decreased by 59% to $1.25 million; on the DEX side, Uniswap V3 decreased by 57% to $3.74 million, and Curve decreased by 65% to $891,000.However, from a 30-day perspective, Morpho Blue fees increased by 23%, Maple increased by 49%, Uniswap V3 increased by 27%, and Curve increased by 71%. This indicates that the sharp drop in weekly fees is mainly a short-term phenomenon caused by the unwinding of leveraged positions, rather than a structural decline in on-chain lending and trading demand.

According to The Block, the activities of Pump.fun, the meme coin launch platform that once dominated Solana, have continued to deteriorate, with token graduation rates, revenue, and network fees all significantly declining. The 7-day average token graduation rate for Pump.fun dropped to 0.26% last week, an 80% decrease over three months. Daily revenue is only about $800,000, far below the $4.8 million from six months ago. The PUMP token has fallen 40% in the past six months. The decline of Pump.fun has affected the Solana network, with daily fees on the Solana network dropping to 5,300 SOL, well below the 33,000 SOL in January. Analysts believe that a large amount of capital that previously participated in Solana meme coins has shifted to perpetual contract trading on Hyperliquid, consistent with the rapid growth of HIP-3.

According to a regulatory document and informed sources, the total underwriting fee for SpaceX's initial public offering is approximately $500 million, accounting for about 0.7% of its $75 billion fundraising amount.Lead underwriters Goldman Sachs and Morgan Stanley will take the largest share, collectively receiving 40% of the fees, or about $100 million each. Bank of America, Citigroup, and JPMorgan are expected to receive about $75 million each, while several other banks are expected to receive about $10 million or less each.

Russian Deputy Finance Minister Ivan Chebeskov stated that Russia may introduce fees, recommendations, and technical protection mechanisms for "unfriendly" cryptocurrency transactions to protect Russian investors. During the preparation for the second reading of the cryptocurrency market regulation bill, one of the core topics is whether to allow specific digital assets (including USDT and BNB) to participate in trading. Ivan Chebeskov pointed out that the operation of such tools may pose high risks to Russian users, and therefore additional protective measures are being considered, including economic incentives such as fees or recommendations to encourage citizens to hold other assets.Previously, the Russian Ministry of Finance considered excluding USDT from the cryptocurrency market regulatory framework, but industry participants expressed their willingness to bear the risks of using the tool themselves. Additionally, in the regulatory concept proposed by the Central Bank of Russia last December, it was suggested that digital currencies and stablecoins be classified as foreign exchange assets, allowing buying and selling but prohibiting their use for domestic payments for goods and services. Ineligible investors may purchase the most liquid cryptocurrencies after passing specific tests, and the annual limit for purchasing assets through a single intermediary does not exceed 300,000 rubles.

According to the official announcement, Bitget has now launched a total of 49 US stocks and popular ETF spot tokens including rFUTU (Futu Holdings), rBILI (Bilibili), rJD (JD.com), rBB (BlackBerry), and rNBIS (Nebius).

According to official news, Gate stocks have now fully integrated into the VIP tier system. Users only need to hold $2,000 to easily upgrade to VIP status, enjoying a minimum exclusive trading fee of 0.023% and 1V1 customer manager service, further reducing global asset allocation costs.Gate stocks support users in trading over 10,000 mainstream U.S. market stocks and ETFs using USDT, covering major U.S. securities trading markets and liquidity networks such as NYSE, Nasdaq, NYSE Arca, NYSE American, and BATS. It also supports fractional share trading starting from a minimum of 0.01 shares, providing users with a more comprehensive global securities asset allocation option. With the official launch of stock trading services, Gate further connects digital assets with traditional financial markets on a unified trading platform.In addition, Gate continues to improve the VIP exclusive rights ecosystem, creating a high-end service system around multiple dimensions such as trading, wealth management, and lifestyle. Recently, the platform has successively launched VIP exclusive airdrop activities featuring Cartier jewelry, whiskey, gold, and more, as well as offering exclusive financial products, higher-level income rights, and diversified benefits such as sports event viewing and invitations to offline activities. Gate continues to organize VIP users to watch matches at Inter Milan's home ground and F1 racing venues, experiencing exclusive hospitality and the atmosphere of top-tier events, creating a richer premium experience for high-level users.

According to official disclosures from Binance, Alpaca is not only the clearing broker for its U.S. stock business, but Binance also holds a minority stake in Alpaca. According to the agreement, Binance will receive 50% of Alpaca's payment for order flow (PFOF) and 65% of the remaining profits from user stock lending, after deducting user interest.Binance's recently launched U.S. stock business adopts a "introducing broker + clearing broker" model, with Nest Trading responsible for order referrals and Alpaca responsible for trade execution, clearing, settlement, and asset custody. Alpaca Securities LLC is a registered broker-dealer with the U.S. Securities and Exchange Commission (SEC) and is also a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC), holding approximately 94% of the tokenized U.S. stocks and ETFs market share.