Uniswap Labs, a decentralized trading protocol, has faced pressure after increasing the fee to swap on its interface from 0.15% to 0.25% in mid-April .The fee hike has affected the popularity of the Uniswap frontend, which accounted for 30% of DEX activity in April, down from 35.8% in March. However, the Uniswap frontend remains one of the most popular ways to use Uniswap, despite the fee hike.

The fee hike was introduced shortly after Uniswap received a Wells Notice from the Securities and Exchange Commission. The notice is a formal warning that the SEC intends to bring enforcement action against Uniswap. The fee hike is seen as a way for Uniswap to generate more revenue and offset the costs of the potential enforcement action.

Despite the fee hike, Uniswap Labs continues to be a major player in the decentralized finance (DeFi) space. The Uniswap frontend has still been helping Uniswap Labs bolster its coffers, with the developers making over $145,000 a day from their frontend on Ethereum alone. However, the fee hike has led to a slowdown in the growth of Uniswap's user base, with the number of new users declining in recent weeks.