Uniswap is a Decentralized Finance(DeFi) which is into token swapping and it is into yield token yield farming so investors can provide liquidity in Uniswap and they get rewards over time. It has been upgrading, recently it launched Uniswap Version 3
Uniswap V2 was launched on 2 November 2018. V2 is the advanced version of version 1 as on V2 you can swap token using WrappedEthereum (WETH) whereas on v1 Ethereum is used. It has a market share size of 7.3289% and 1901 market pairs with daily trading volumes of $362,056,007.
Uniswap V3 was launched on 5 May 2021 and it is an upgrade of V2. it is now the 5th largest DeFi Dex with daily trading volume of $494,132,164 and it has a market share size of and it has 93 trading pairs. It has made a lot of changes which also include following:
- Multiple Pools per pair
- Non Fungible liquidity
- Oracle upgrades
- Concentrated Liquidity
Although Uniswap V3 has became the largest as compared to V2 there is one single problem with it: higher transaction fees. They should work on that because investors are always complaining on higher transaction gas fees and higher fees when migrating. Hopefully they will work out on that anytime soon.