Uniswap posts record $14.81 million monthly revenue as Robinhood Chain drives over half

Decentralized exchange Uniswap posted a record $14.81 million in monthly protocol revenue in September 2026, driven largely by the newly launched Robinhood Chain. The Ethereum Layer-2 network generated 53% of the total revenue, or $7.8 million, aided by an average fee rate of 0.465% on tokenized stock trading. However, daily transactions on Robinhood Chain dropped over 40% in early October 2026, highlighting revenue concentration risks.

September revenue reporting

• ▪On-chain data platform Token Terminal reported in early October 2026 that Uniswap earned approximately $14.7 million to $14.81 million in September 2026, marking the protocol's highest monthly total to date
• ▪Crypto media outlet Crypto Briefing reported on October 17, 2026, that Uniswap recorded $14.81 million in protocol revenue for September 2026

Robinhood Chain drives Uniswap protocol revenue

• ▪Uniswap integrated its v2, v3, v4, and UniswapX protocols on Robinhood Chain at launch and began collecting protocol fees on the network on July 27, 2026
• ▪The Layer-2 network Robinhood Chain, which launched on July 1, 2026, generated 53% of Uniswap's September 2026 protocol revenue, amounting to approximately $7.8 million
• ▪Trading in tokenized stocks on Robinhood Chain drove Uniswap revenue, with Uniswap processing $1.75 billion of the chain's $1.95 billion daily volume on September 1, 2026
• ▪Uniswap's 0.465% fee capture rate on Robinhood Chain in September 2026 was more than double its overall global average rate of 0.214% per trade

Slowing activity raises revenue sustainability concerns

• ▪Daily transaction counts on Robinhood Chain fell by more than 40% in early October 2026 following September's revenue surge
• ▪Deriving 53% of monthly revenue from a single network creates concentration exposure for Uniswap as activity on Robinhood Chain moderates
• ▪The early October 2026 transaction slowdown on Robinhood Chain raised questions regarding whether September 2026 trading volume and fee levels can be sustained