Uniswap

Uniswap is a decentralized exchange protocol that allows people to swap cryptocurrency tokens directly with one another without relying on a traditional order book or a centralized intermediary. The UNI token is the governance token for this protocol, giving holders the ability to vote on decisions such as how the project treasury is used or what changes are made to the protocol. It is designed for anyone who wants to trade tokens in a permissionless way or participate in shaping how the exchange evolves.

Uniswap uses an automated market maker model, meaning trades are settled against pools of tokens supplied by liquidity providers rather than matched against other traders' orders. Smart contracts running on Ethereum, as well as on additional networks including those in the BNB Chain, Avalanche, and Polygon ecosystems, handle every swap automatically. The UNI token itself does not power transaction settlement but grants its holders voting rights in the protocol's governance process.

Fees are paid by traders every time they execute a swap, and in the trailing 30 days those fees totalled 127,969,825.94 USD. The large majority of that sum, 117,863,169.94 USD over the same period, went to the liquidity providers who supply the token pools rather than to the protocol itself; protocol revenue for the trailing 30 days was 10,106,656 USD. Fee growth over the last 30 days was negative at -23.09 percent, and protocol revenue growth over the same window was -45.92 percent. The take rate, meaning the share of fees that the protocol retains, stood at 7.897687 percent over the trailing 30 days.