Uniswap is a decentralized exchange (DEX) that utilizes an automated market maker system with liquidity pools. Uniswap exchange allows users to trade between assets that run on the Ethereum blockchain. Any ERC-20 token can be launched for trading on the Uniswap platform as long as there is a liquidity pool available. Because of this, Uniswap does not charge listing fees, making it an essential resource for new or smaller ERC-20 projects.

Uniswap has its own ERC-20 token operating under the ticker UNI. Within the Uniswap ecosystem, UNI serves as a reward and governance token.

Uniswap

UNI

Governance tokens provide holders the right to vote on important issues concerning the development and operations of a blockchain project. It is a way for projects to share decision-making power with their communities.
90%

Market leadership

Uniswap
UNI

  • Uniswap is a popular decentralized trading protocol that facilitates automated trading of decentralized finance (DeFi) tokens

  • At the start, project received a $100,000 grant from the Ethereum Foundation

  • UNI is Uniswap's governance token

  • Uniswap has over 3.9 million users, one of the biggest numbers of DeFi protocol users

  • Uniswap's social media presence is growing with 31% and 14% new followers attracted on Twitter and Discord respectfully in the past year

51%

Overall rate

Team expertise

10%

Fundrising experience

53%

Token

100%

Industry influence

40%

Social impact

47%

Uniswap is a decentralized trading protocol that facilitates automated trading of decentralized finance. It was firstly recognized by the Ethereum Foundation. Led by an ambitious founder, the Uniswap team is actively working on expanding the Uniswap Ecosystem and integrating more DeFi projects, simultaneously preparing for Uniswap Protocol V4's upcoming release and building Uniswap Foundation programs. Its governance token UNI is a desirable asset for DeFi and crypto investors because of its governance nature and technology behind it. Although enterprises only started showing interest in Uniswap solutions, its growing market influence is already perceptible.

Verdict
90%
Uniswap operates in a highly competitive market with numerous DeFi protocols providing similar services. Uniswap is well-regarded thanks to its non-custodial nature and high security. It has almost 4 million users, which is significantly more than its competitors' client bases. Moreover, its digital token UNI is one of the largest cryptocurrencies in the world, with a market cap of $4.2 billion at the time of writing.
Market leadership
Project Objectives
The main goal of Uniswap is to keep token trading automated and completely open to anyone who holds tokens, while improving the efficiency of trading by solving liquidity issues with automated solutions, avoiding the problems which troubled the first decentralized exchanges.
Competition
Uniswap's main competitors include DexGuru, dYdX, 1inch, Curve, SushiSwap, Compound, Loopring Protocol and PancakeSwap.
10%
Uniswap was first released in 2018 by founder Hayden Adams. In 2020, Uniswap v2 launched, enabling direct swaps between essentially any ERC-20 token on Ethereum. Now, Uniswap's team of 110+ professionals is led by one of the pioneers in decentralized finance (DeFi) whose energy and enthusiasm have already translated into the Uniswap Protocol and the whole Uniswap Ecosystem. However, external expertise is necessary for the project's future growth.
Team expertise
  • 110 employees are listed on LinkedIn

  • 20+ job openings

  • HQ: New York, United States
Founders
  • Hayden Adams
    founder and CEO of Uniswap
    • Experience in IT:
      A former mechanical engineer at Siemens.

    • Experience with blockchain:
      in 2017, he discovered crypto via a Reddit post by Vitalik Buterin.
53%
A relatively modest number has been collected during all previous investment rounds. Uniswap did not run an ICO or any kind of token sale. With overall $13M+ investments collected during the past 4 years, Uniswap keeps attracting more funds with each round.
Fundrising experience
$13M
Total investments raised

  • Grant. In 2018, Adams received a $100,000 grant through the Ethereum Foundation

  • Seed round. In 2019, cryptocurrency hedge fund Paradigm was looking at investing over $1 million in the upstart firm as the lead investor in its seed round.

  • Coinbase. In 2020, Coinbase's USDC Bootstrap Fund provided $1M of liquidity to the USDC/ETH pool on Polygon.

  • Round A. In 2020, Polygon raised $11M. The round was led by Andreessen Horowitz with additional investments from USV, Paradigm, Version One, Variant, Parafi Capital, SV Angel and A.Capital.
100%
Limited emission and the governance nature of the token help UNI to be a desirable asset for crypto investors. Uniswap will distribute its UNI tokens according to a set release schedule to both community members (active traders) and liquidity providers.
Token
Ticker: UNI

Documents: Whitepaper

Max Supply: 1,000,000,000

Uniswap (UNI) has a current token supply of 1,000,000,000 UNI. All of the UNI tokens will become available over the course of four years. After four years, when all of these tokens have been distributed, Uniswap will introduce an inflation rate of 2% per year to maintain network participation.

Token Release Schedule: 3rd quarter of 2024

TPS (Transactions per second): 1,2

Token distribution:

  • Community: 60%.

  • Team: 21.51%.

  • Investors: 17.8%.

  • Advisors: 0.69%.

Use of token: UNI is a governance token. UNI holders have the right to vote on upgrades and development decisions on Uniswap. Governance is the fundamental function of UNI tokens, which helps the platform become decentralized for the community. Everyone with ERC-20 tokens, including UNI tokens, can add liquidity to pools to earn token rewards. Users can buy UNI on Uniswap to provide liquidity to pools with high trading volume.
40%
Uniswap is actively working on several community-building programs, highlighting the goal to support developers with early projects on Uniswap protocol. However, by being an L2 platform not backed by enterprises, Uniswap is still a high-risk asset.
Industry influence
Technology Usage
  • Lies on Layer 2 networks: Optimism, Arbitrum

  • 3.9 million users, one of the biggest numbers of DeFi protocol users

  • 300+ integrations (OpenSea, TrustWallet, AAVE, MetaMask, Coinbase Wallet)

  • Developer activity: High
Community
In 2022, Uniswap Labs created a venture capital wing to fund early projects on the protocol. One month later, the DEX surpassed $1 trillion in total trading volume.

Later this year, community members of decentralized exchange Uniswap voted to create the Uniswap Foundation, an organization aiming to support open-source development and community governance within the protocol. The Uniswap Foundation will be an independent entity that will focus entirely on supporting the decentralized exchange's protocol and ecosystem. At the time of writing, Uniswap is working on building its talent pool, scaling the Uniswap Grants program, and reinvigorating the governance process.
47%
Uniswap has a broad following base on Twitter that slowly but steadily increases each year and manages its relatively smaller communities on other platforms, such as Reddit, Discord, and others. The founder of Uniswap is also building a personal brand on Twitter.
Social impact
  • 920k followers on Twitter (+31% in the past year)

    230k+ founders' Twitter followers
  • 62k+ members on Reddit
  • 4k+ subscribers on Telegram
  • 92k users on Discord (+14% in the past 3 months)
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