Uniswap Labs opens fee conversion tool TJAR to apps, starting with Robinhood

Uniswap Labs has launched an open-source fee conversion tool called TJAR, naming Robinhood as its first integration partner.

Uniswap Labs said apps can end up holding thousands of tokens from the fees they collect across chains. Teams have usually had to build their own infrastructure to convert those holdings into a few chosen tokens.

"TJAR replaces that infrastructure with an open market. Apps deposit their fees into a Token Jar. Searchers compete to convert them, and the app automatically receives fees in its chosen token," Uniswap Labs said.

Token Jar was originally built for Uniswap's protocol fees. Uniswap Labs said it handled over $15.3 million in conversions in September and is now available through TJAR for other apps to use.

Converting the fees

The app chooses a token it wants to receive and sets an amount. A searcher can pay that amount through a contract called a Releaser to collect assets from the jar, according to Uniswap's documentation.

The jar does not set a price for each token it holds, according to the documentation. Searchers decide whether to accept the trade, with payment going to the recipient chosen by the app.

Uniswap uses UNI for these payments and sends it to a burn address. Other apps can choose which token to receive and where to send it.

"Anyone can set up a token jar in a single transaction. You can change the token, price, and destination at any time, or choose to lock settings permanently," Uniswap Labs said.

Uniswap DAO governance can also set an optional protocol fee for TJAR. None is set at present, according to the documentation.

Robinhood integration

Robinhood is the first integration partner for TJAR, Uniswap Labs said, adding that more integration partners would follow.

"Robinhood is already using TJAR across its supported chains for fees collected through the Uniswap API," Uniswap Labs said. "Fees are converted as they come in, and Robinhood receives fees from its jars in USDC and USDG."

Robinhood and Uniswap already work together.

Uniswap's trading protocols are live on Robinhood Chain, while its web app, wallet, and API support Robinhood Stock Tokens.

TJAR is live on seven chains, according to Uniswap Labs. The company said developers can access the code, deployment addresses, and audit reports.

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