UNI surged 13% in 24 hours to reach $4.54, a level last seen in January, pushing its monthly gains to 60%. The rally came after Uniswap announced the beta launch of Launches, a new tab on its Web App for discovering top token offerings, with Robinhood Chain as the first integrated network. In July alone, more than 340,000 new tokens launched into Uniswap across Robinhood launchpads, collectively generating $3.6 billion in trading volume. A burn of 106,000 UNI tokens also occurred on July 29, while the protocol faces renewed debate over its v4 fee structure. Founder Hayden Adams dismissed concerns that protocol fees would reduce returns for liquidity providers.
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