Breaking Down Uniswap’s Fee Switch and UNIfication Proposal | Hayden Adams & Jesse Walden
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Part of what I'm so excited about with unification is, you know, when I think about, like, the labs team, think that, like, one thing that we're most unique about is, like, our expertise in in market structure and in AMM design and protocol design. And so I'm really excited to kind of, like, align our focus, and and that's part of what this proposal is about, building what is most valuable for the protocol.
Hey, everyone. Quick disclaimer before we get into today's episode. Nothing said on BellCurve as a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and the views expressed by anyone on the show are solely our opinions, not financial advice. Our guests and I may hold positions in the companies, funds, or projects discussed. Alright, everyone. Welcome back to another episode of Bell Curve. It's a very special episode. Today, I've got Hayden Adams of Uniswap and Jesse Walden of Variant. Guys, this is gonna be a fun one. Welcome. Great to be here
Thanks for
having us. Thanks, guys. Well, the the trigger for this podcast was, Hayden, the proposal that you just put out to activate the Uniswap fee switch. We had a little bit of a false start yesterday. That's my bad. Montana got snowed in, so lost power. But here we are. We're back at it. And I wanna get as much as we possibly can covered around. There's there's a whole rich history that goes along, I think, specifically with the Uniswap fee switch that I'm super interested to to get at. But maybe to address what I'm really curious about, hey, maybe you could rewind the clock a couple of years ago a
Yeah. So, and by the way, you know, if it's if it's cold in Montana, we released an interesting pair of socks that you could you could use. Back in the day, they're still available.
What I want is the Paul Frambo, Unisox mashup. I was actually there that night earlier, so a little part of it.
The history of that, I don't know if we're going too off the rails already, but I I was telling him how I really don't like long socks, so I don't wear my unisocks because they're too long for me. And so I I you know? And then he said, why why don't just cut off the tops? I'll buy the top. And so I cut off the top of a pair of unisocks. And he was like, How much for it? I'm like, I know how to price the top of a pair of my socks. So I was like, How about you just give me something of equal value sometime in the future at your discussion? And then over a year later, he comes in with this crazy
Paul literally bought the top.
Yeah. He bought the top of the box. But okay. We've we've already gone off the rails. Okay. Building during the ENSLER era. Yeah. I think that, like, maybe some some context even kind of before then. So, you know, Uniswap had this, like, meteoric rise in in 2020. So Uniswap protocol went from doing $10,000,000 a day in trading at the beginning of what we call DeFi summer, summer twenty twenty, to by the end of the summer, it was doing over $1,000,000,000 a day in trading. And that was sort of like this, like, crazy kind of catalyst of of DeFi adoption and growth, and and you saw it sort of, li
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