Getty Hill on whether Uniswap should turn on Protocol Fees

I Pledge Allegiance

In this episode Larry and I chat with Getty Hill about Uniswap Protocol's fee switch. We go into detail about the pros/cons of turning the fee switch on, the process that goes into the decision, and how protocol fees could be used to grow Uniswap long-term.

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Follow us on Twitter: @getty_hill |@lsukernik | @derek_hsue

Resources: v2 fees, v3 fees, Adding a 1 basis point fee tier for Uniswap

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Show Notes:

• What are the pro and cons of turning on the protocol fee switch?
• Balancing "value accrual" vs. market-share
• Lessons from implementing a 1 bp fee tier for UNI pools
• Why v2 fees are much simpler to implement than v3
• Why the "fee switch" question is not a one-off proposal, but a multi-month effort combining research, implementation, and monitoring.
• What kind of new behaviors would turning fees on enable?
• Second Order effects on the broader DeFi ecosystem
• Other thoughts on Uniswap governance broadly