Uniswap
Automated market maker DEX with v2, v3 and v4 pools on Ethereum and other networks, governed by UNI holders.
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Uniswap key facts
| Category | Decentralized exchange |
|---|---|
| Chains | Ethereum, L2s and other L1s |
| Platforms | Web, iOS, Android, API |
| Custody | Non-custodial |
| Fees | v2 0.3% (0.25% LP + 0.05% protocol where fees are on); v3 tiers 0.01%, 0.05%, 0.30%, 1%; no Labs interface fee since Dec 27, 2025 |
| Token | UNI |
| Open source | Yes, v4-core on GitHub |
| US availability | Available: terms restrict only sanctioned jurisdictions |
UNI token
- Price
- $6.91 -0.2% 24h
- Market cap
- $4.2B
- Fully diluted value
- $6.1B
- 30-day change
- -7.8%
Market data: CoinGecko, updated Nov 10, 2026. Educational content, not financial advice.
What is Uniswap?
Uniswap is a decentralized exchange protocol of automated market maker pools on Ethereum and other networks, with v2, v3 and v4 versions. v2 pools charge a 0.3% LP fee; v3 uses fixed tiers of 0.01%, 0.05%, 0.30% and 1%. UNIfication, live since late December 2025, turned on protocol fees that burn UNI.
How Uniswap works
Uniswap pools are automated market makers in three live versions. v2 pools hold two tokens at a fixed 0.3% fee, v3 pools add concentrated liquidity with fixed tiers, and v4 pools are created through the PoolManager contract.
In v4, each pool can attach one hook, an external contract that runs code before or after initialize, add or remove liquidity, swap and donate actions. Hooks enable features such as dynamic fees, custom curves or gated liquidity; a v4 pool without a hook behaves like v3.
The UNIfication proposal went live in late December 2025. It turned on protocol fees for v2 and selected v3 pools on Ethereum mainnet, with fees sent to a TokenJar contract and used to burn UNI. Unichain sequencer fees, after L1 data costs and the 15% share to Optimism, feed the same burn. A February 2026 proposal extends v2 and v3 protocol fees to Arbitrum, Base, Celo, OP Mainnet, Soneium, X Layer, Worldchain and Zora.
How to start with Uniswap
- Open the Uniswap web app or the Uniswap Wallet, connect a wallet and pick the tokens and network.
- Swap details show any applicable fees before you sign.
- You pay network costs in the chain's gas token.
- Uniswap Labs' terms, last modified July 28, 2026, are governed by New York law and treat its products as based in New York.
Uniswap fees and limits
- Since December 27, 2025, Uniswap Labs charges no interface fee in its web app or wallet.
- You pay the pool fee: 0.3% on v2 and 0.01%, 0.05%, 0.30% or 1% on v3.
- Where protocol fees are on, v2 LPs keep 0.25% and 0.05% goes to the protocol; v3 protocol fees start at 1/4 of LP fees on 0.01% and 0.05% pools and 1/6 on 0.30% and 1% pools.
Risks to know before using Uniswap
- The terms state that Uniswap Labs is not a liquidity provider and that LPs are independent third parties. v4 hooks are third-party code, and the docs publish a separate security framework for assessing them, so a pool's hook can change how fees or liquidity behave.
- Protocol fee parameters now go straight to a five-day Snapshot and an onchain vote, skipping the RFC stage, so LP fee shares can change quickly.
Uniswap usage
From DefiLlama (TVL) (fees users paid), updated Nov 10, 2026.
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Where Uniswap ranks on DappAtlas
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- Aave Lending protocol
Uniswap pros and cons
- v3 fee tiers as low as 0.01% and 0.05%
- Pool contracts are public on GitHub
- UNIfication proposal included burning 100 million UNI from the treasury
- v2 LP fee of 0.3% on every swap
- Protocol fees take 1/4 of LP fees on 0.01% and 0.05% v3 pools where enabled
- Ethereum mainnet gas adds cost to small swaps
Uniswap FAQ
What is Uniswap?
Uniswap is a decentralized exchange protocol of automated market maker pools on Ethereum and other networks, with v2, v3 and v4 versions. v2 pools charge a 0.3% LP fee; v3 uses fixed tiers of 0.01%, 0.05%, 0.30% and 1%. UNIfication, live since late December 2025, turned on protocol fees that burn UNI.
How much value is locked in Uniswap?
$3.4B according to DefiLlama on Nov 10, 2026. It is deployed on 47 chains: Ethereum, Base, Arbitrum, Robinhood Chain, Binance, X Layer and others.
How much does Uniswap cost?
v2 0.3% (0.25% LP + 0.05% protocol where fees are on); v3 tiers 0.01%, 0.05%, 0.30%, 1%; no Labs interface fee since Dec 27, 2025, according to Uniswap’s own page (checked Sep 26, 2026).
How much do users pay Uniswap in fees?
$77.5M over the last 30 days, according to DefiLlama on Nov 10, 2026.
Does Uniswap have a token?
Yes, UNI. Its market cap was $4.2B on CoinGecko on Nov 10, 2026. Educational content, not financial advice.
Is Uniswap available in the US?
Available: terms restrict only sanctioned jurisdictions, according to Uniswap’s own page (checked Sep 26, 2026).
Does Uniswap hold my funds?
No. Uniswap is non-custodial: you keep your funds in your own wallet and sign each transaction.
Sources
How this page works
Sources: Uniswap: official site, Uniswap: UNIfication, Uniswap: v4-core repository. Data as of Sep 26, 2026.
Not affiliated with any project listed. Educational content, not financial advice.