💡 Uniswap: DEX champion with $3T volume, $3.6B TVL & “superpower” hooks mechanism!
(Data updated until 07/2025 – This post helps summarize important information when observing the project as needed and is not investment advice)
1/🧵 Overview & position
- @Uniswap is currently the leading DEX, with TVL ~3.58 billion USD (v3: $1.25B, v2: $1.35B, v4: $0.99B) and 24h volume ~1.79 billion USD. A total of over 3 trillion USD volume has been achieved to date, the first in the DEX world. (You could say it is the ultimate DEX up to now).
- Volume in 06/2025 reached 32.05B, significantly increased compared to 06/2024 at 23.3B despite a sluggish market and strong pressure from the Pancakeswap system!
Nearly 10k addresses transact daily, ~66k transactions – showing a stable network of both casual and professional users.
2/ Major events 06/2024–07/2025
- Jan 2025: launching Uniswap v4 & Unichain (L2 based on Optimism OP Stack), efficient gas usage, automatic fees – TVL on Unichain increased by 41% in just the first month.
- Jun 2024: Volume on L2 exceeded 300 billion USD in 3 months.
- Jun 2025: announcement of hooks + UniStaker feature, paving the way for protocol revenue delegation & revenue-sharing, creating financial capacity for UNIchain.
3/ Tokenomics & Governance
$UNI total supply 1 billion, circulating ~0.6 billion. Current price ~4–7 USD, market cap ~4.6 billion USD.
Foundation received $140M donation (Q1’25), total revenue Q1: $140.3M, assets ~ $95M (USD/stables + 15.8M UNI + 257 ETH); committed $12.4M grants, multi-year until 2029.
4/ DeFi & On-chain data
DEX has captured 30% of market volume compared to CEX.
55% of newcomers in DeFi start swapping at Uniswap – a clear role as the leading “gateway” to DeFi.
L2 transactions (v4, Unichain) surged; TVL and collected fees concentrated in v3/v4, while v2 still plays a significant role.
5/ Developer activity & security
09/2024 – 06/2025, audits: Trail of Bits (v4 core), OpenZeppelin (Universal Router), Cantina (UniStaker)… Bug bounty up to $15.5M.
GitHub: >100 devs commits monthly (~104 commits/month), demonstrating developer vitality across many versions.
6/ Governance power & debates
"Uniswap Unleashed" runs prioritizing hooks + delegation: 800+ developers from 60+ countries, nearly 100 infra & DeFi partners.
Power struggle between Uni Foundation & DAO: a delegate named “Pepo” resigned due to concerns of Foundation overpowering DAO.
7/ Opportunities & challenges
✅ Efficient capital costs: fee-sharing, strong hooks appealing to LP.
✅ Growth of v4/Unichain: volume & TVL L2 v4 exceeded forecasts.
✅ Strong finances: $140M donation & grants $12M+ have been committed.
⚠️ UNI price under downward pressure: fluctuating $4–7; unlock amount still unclear.
⚠️ Centralized power: Foundation vs DAO remains a balancing act.
8/ Outlook Q2–Q3 2025
- V4 + Unichain continue to roll out: Catex IDO event using v4 (July’25), integration on Spores Launchpad.
- Hooks + UniStaker will unlock long-term revenue lines, benefiting both the protocol and users with yield & governance.
- The effective upgrade, connection of new chains, and increased developer participation will be the next driving force.
#Uniswap #defi #DEX #UniswapV4 #Unichain #hooks #UniStaker #Governance #Crypto #Layer2 #UNI
(Assessment based on data until 07/2025. Not investment advice.)
