Uniswap Labs has turned v4 of its decentralized exchange protocol into a trade router, and swaps it sends to other venues now pay protocol fees that contribute to UNI token burns.
The company announced on Thursday that Aggregator Hooks are live in the Uniswap Web App and the Uniswap API on Ethereum mainnet, Base and Robinhood Chain. “Uniswap v4 is now an aggregator,” the post said.
Seven external liquidity sources are connected at launch. Uniswap Labs said in its announcement post that those sources account for “more than 90% of DEX activity on these chains.” The post did not name the seven venues.
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How the Hooks Route Trades
Each hook wraps one outside source so routing software treats it as a Uniswap v4 pool. Uniswap Labs said routes that mix its own pools with those sources are priced from quotes refreshed every block and settle in a single transaction, with “nothing new to approve.”
Fees From Outside Liquidity
Trades routed through the outside sources “pay protocol fees, contributing to UNI burn,” according to the hooks launch post, because the hooks register those sources as v4 pools. Uniswap Labs, which puts total swap volume on Uniswap above $4.5 trillion, said the hooks are aimed at liquidity that builds up on other venues.
The plan dates to the UNIfication proposal published in November 2025, which asked Uniswap governance to switch on protocol fees and direct them into a mechanism that burns UNI. The proposal listed aggregator hooks among the products where fees would eventually apply, alongside v4, UniswapX and layer-2 deployments. It also called for burning 100 million UNI from the treasury.
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