The CEO of Uniswap denied asking for payment for protocol deployments

Uniswap CEO Hayden Adams has denied allegations that X has solicited funds to deploy decentralized finance protocols.

The CEO took to X on September 12th and Uniswap Labs or the Uniswap Foundation will not charge for protocol deployments.

Adams said protocol extensions are done by administrative vote. He explained that the requirements for deploying the Uniswap interface on a new chain depend on the amount of activity and effort required.

Uniswap's CEO's response came after X user Alexander asked Uniswap developers to “raise $20 million for ineffective Uniswap deployments.”

The comment came from Kene Ezeji-Okoye, founder of Millicent Labs, who tweeted that Uniswap paid $10 million for the protocol deployment “and an additional $10 million in user incentives focused on carbon credit trading.”

Alexander did not immediately respond to Cointelegraph's request for comment.

The Uniswap protocol is used to provide liquidity and trade ERC-20 tokens on the Ethereum blockchain. Uniswap Labs developed the Uniswap protocol and interface.

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Uniswap is in compliance with the US regulator.

In other news, Uniswap recently got into a regulatory spat with the US Commodity Futures Trading Commission (CFTC). On September 4, the regulator indicted Uniswap Labs for illegally offering backed cryptocurrency trading to US retail investors.

Uniswap Labs settled the lawsuit by paying a $175,000 civil penalty and agreeing to stop violating the Product Market Act.

Uniswap is distinguished as a software company

In April, the US Securities and Exchange Commission charged that Uniswap operated an unregistered securities exchange.

In its response, Uniswap said it is a New York-based software company that “remodels market structures” and is “not an exchange, brokerage or clearinghouse under a reasonable reading of the securities laws.”

“Yes, I am frustrated that the SEC seems more concerned with protecting opaque systems than protecting consumers. And we must fight the US government agency to protect our company and our industry,” CEO Adams wrote in X at the time.

Uniswap is one of the most popular decentralized financial protocols that facilitates token exchange across more than a dozen blockchain networks.

Uniswap has locked in about $4.35 billion in total value as of Sept. 12, Defillama said.

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