Michael Nadeau, founder of The DeFi Report, said in a post on the X platform that last year Uniswap generated nearly $1.30 billion in transaction and settlement fees on Ethereum, Base, Arbitrum, Polygon and Optimism. However, these fees are not earned by the protocol and token holders, and 100% go to liquidity providers, Ethereum validators, MEV robots, and L2 sorters. But with the launch of Unichain later this year, that will all change.