Uniswap accounts for 37.20% of the weekly trading volume of non-custodian exchanges (DEX), the latest data from Dune Analytics indicate .
According to The Block , the platform is a leader in the number of crypto assets listed (2810), while the closest pursuer, IDEX, has only 1184.
Uniswap is ahead of not only IDEX, but also ten other competitors combined in this indicator.
“The offer of a wide range of assets for trading is a significant advantage against the background of the current rush in relation to cryptocurrencies with low capitalization,” analysts said in a report.
Since the launch of the second version of the protocol in May, 2,256 new assets have been added to the platform. However, the free listing practice eventually led to the appearance on Uniswap of at least a dozen fraudulent tokens masquerading as well-known blockchain projects.
Uniswap v2 introduced the following features:
- the ability to exchange any Ethereum-standard ERC-20 tokens among themselves;
- instant swaps, providing for the possibility of withdrawing "as many coins as you like" to carry out, for example, arbitrage and margin trading operations;
- improved quotes control thanks to oracle support.
Despite the growing popularity of Curve and Balancer, Uniswap's market share after launching the second version of the protocol grew from 31.72% to 37.20%. Over the past eight weeks, the site has demonstrated a positive trend in liquidity flows.
In addition to the number of assets, Uniswap not only managed to maintain, but also increased its market share due to its competitiveness in average gas costs per transaction. According to this indicator, the platform is second only to Balancer: 143 thousand against 116 thousand. This is especially true, since the daily volume of gas used is in the region of historical maximum, exceeding 70 million Gwei .
The average amount of gas per trade per different DEX. Data: The Block
As the third reason for the popularity of Uniswap, analysts call the site's strong brand. Despite the increasing use of DEX aggregators, a seamless user experience and a retail-oriented interface make Uniswap a starting point for new entrants to enter the industry. Also, the leadership position of the DEX segment is strengthened by integration with decentralized finance services like Aave, Rainbow, etc.
Recall that in April, the largest US cryptocurrency company Coinbase became an investor in Uniswap.
