The leading decentralized exchange (DEX) Uniswap’s historical trading volume has exceeded 50 billion US dollars, which is an important milestone in the DEX field.
On December 15th, Uniswap founder Hayden Adams released some data on Twitter. These data show that the platform has processed a transaction volume of 51.7 billion US dollars through 26,000 pairs of different transaction pairs since its establishment, which is equivalent to an average transaction volume per pair. The transaction volume of the pair is nearly 2 million US dollars.
Last week, Uniswap’s historical transaction volume exceeded $50 billion. These trading volumes come from 26,000 different trading pairs, and these trading pairs only need to be increased by 19 times, and the total trading volume can reach $1 trillion. — Hayden Adams (@haydenzadams) December 14, 2020
If Uniswap maintains its recent monthly trading volume of US$10 billion in the past three months, Adams expects that the platform’s historical trading volume will exceed US$1 trillion in eight years.
Some people from the crypto community have doubts about the source of most of Uniswap’s transaction volume. The platform does not have KYC and does not have a currency review process.
Twitter user’cyber_hokie’ hinted that most of Uniswap’s transaction volume comes from dark web markets, money laundering and disk laundering transactions, although Uniswap’s fixed fee plan will make the cost of disk laundering transactions too high.
Uniswap has always been a destination for illegal funds. In September of this year, a hacker stole $200 million worth of cryptocurrency from KuCoin, a Hong Kong exchange, and sent $1.2 million worth of SNX to Uniswap for money laundering, which intensified people’s abuse of the platform by criminals. Worry.
Twitter user’QueenCryptoCat’ speculated that “half” of Uniswap’s trading volume may be generated by new tokens, which ultimately constitute rug-pulls (rug-pulls refers to some projects that defraud users of pledge and investment by packaging themselves He immediately ran away with the money), he asked:
“Is it possible for these tokens to break rug-pulls?”
According to DeFi Pulse, since the release of Uniswap “V2” iteration on May 18, Uniswap’s total locked-up value has soared from $36.5 million to today’s $1.37 billion, making it the fifth largest DeFi agreement.
Uniswap has been facing constant competition from forked clones and “vampire attacks”, which try to suck away Uniswap’s liquidity. Its rival, the automated market maker SushiSwap, currently ranks behind Uniswap, becoming the sixth largest DeFi project, with $1.07 billion in assets under management.
Weekly DEX trading volume: Dune Analytics
According to Dune Analytics, Uniswap accounts for 59.5% of weekly DEX trading volume, followed by 0x (12.9%), SushiSwap (11%), and Curve (10.2%).
Uniswap’s number of transactions also dwarfs its competitors, with more than 101,000 unique addresses interacting with the agreement in the past 7 days. Next in order are SushiSwap (3392), Kyber (1662), Curve (982), and 0x (859).
The highly anticipated Polkaswap native decentralized exchange Polkaswap may become Uniswap’s main competitor in 2021, although the expected release date of Polkaswap is unclear.
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