Uniswap has become the first decentralised exchange to surpass $3 trillion in total all-time volume.
The platform’s founder, Hayden Adams, marked the record in a post on X(Twitter) with a screenshot from Dune Analytics counting down to the milestone. This feat underlines Uniswap’s leading role in the decentralised finance sector.
Daily Trading Remains Strong
Current figures show that Uniswap handles about 3.3 billion dollars in trades each day, according to Dune Analytics.
DeFillama reports a very similar number, noting daily volume near $3 trillion and a 23% share of the decentralised exchange market. PancakeSwap holds second place, registering 2.7 billion in daily trades and a 21% share.
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Decline in Locked Assets
Despite high trading traffic, Uniswap’s total value locked sits around $5 billion. That is roughly half of its peak in 2021.
The drop in locked assets reflects a wider trend across decentralised finance, where users have moved funds to other parts of the market or back into traditional finance.
Expansion onto New Chain
Uniswap has also gone live on Soneium, Sony’s new layer two blockchain designed for digital entertainment. This move could open doors to game developers and media firms looking to add token-based features.
By joining Soneium, Uniswap aims to tap into a fresh user base and showcase its swapping tools on cutting-edge technology.
Community-Backed Proposals
The Uniswap community has voted in favour of two governance measures to grow the ecosystem further. These plans allocate funding to the Uniswap Foundation’s grant program, support rewards for liquidity providers, and cover some operational budgets.
Community members see these steps as vital to drive new projects and keep liquidity high on the platform.
UNI Token Actions
The UNI governance token is trading at $7.12, up slightly by 0.27% over the last day.
Its overall market capitalisation stands at f$4.48 billion. However, daily trading volume for UNI has fallen by about 28.68%, suggesting some cooling in token activity even as the underlying exchange thrives.
What This Means for DeFi?
Hitting $3 trillion in lifetime volume cements Uniswap’s position as a top venue for token swaps.
The milestone shows that users trust its automated market maker model to execute trades quickly and at low cost. Yet the dip in total value locked also signals that users may be seeking higher yields or exploring newer protocols.
As Uniswap grows onto chains like Soneium and pushes community proposals, it aims to balance both trading volume and locked capital. Continued integration with diverse blockchains could attract fresh assets and users.
Meanwhile, grant funding and liquidity incentives may help reverse the decline in locked value by rewarding those who stake tokens.
Also Read: Uniswap Stablecoin Exchange Hit by Flash “Sandwich Attack” as Traders Lose Over $215,000 In Seconds