Uniswap has deployed a new ETH/USDC pool that separates buy and sell fees, adjusting rates dynamically on every swap. The mechanism introduces a temporary surcharge on trades that reverse large price movements, specifically targeting arbitrage activity to retain more value for liquidity providers. This fee structure aims to improve returns for LPs by capturing value typically lost to arbitrageurs during volatile market conditions. The dynamic adjustment occurs automatically with each trade, marking a significant evolution in automated market maker fee design.