Try Quests to earn cryptoUniswap Vs. Other DEXs Analysis
Uniswap launched its first version of the automated market maker (AMM) in 2018, becoming a huge success. Since then many other projects launched, which built on the concept of AMM. For this bounty, analyze the market share of Uniswap to the other DEXs. Metrics to include can be (but not restricted to!) new & active users, volume, TVL, transactions, fees collected etc.
The below chart shows the market share of daily transaction fees collected across Uniswap and other DEXs transactions over the past few years of Ethereum network and could see that Uniswap transactions have collected maximum fees when verified on a daily basis. Also, we can infer that a maximum transaction fees of around 7.4M has been collected for Uniswap transactions on 9th November 2021.
Introduction
Uniswap is a decentralized, permission-less exchange that allows anyone to trade Ethereum ERC-20 tokens directly without the use of any middleman.
The first version of Uniswap started out in November 2018. Uniswap's V1 allowed trading of any ERC-20 token to Ether and back.
In May 2020, Uniswap V2 version was released and the trading of ERC-20 tokens directly between one another without first having to trade with Ether became available. In May 2021, Uniswap V3 version was released allowing a more effective use of capital to whoever decides to supply liquidity to Uniswap. Also, with Uniswap V3, Trading got more efficient lowering the trading costs compared to V2 version.
In this article, we will analyze the market share of Uniswap with other DEXs in terms of standard metrics such as
- Total Number of Transactions
- Total Trading Volume
- Total value locked (TVL)
- Total Transaction Fees charged
- Total Number of Users transacted
- Total Number of Active users etc..
Here is the graph that shows the daily trend of Uniswap Transactions versus other dex transactions captured over the past few years on Ethereum blockchain. In this chart, we can see that a majority of transactions belongs to Uniswap and highest uniswap transactions count has been recorded on 17th September 2020, with a count of 167K.
In this below visual, we can see the daily count of Total number of users actively transacted over Uniswap Vs. Other DEXs over the past 2 years on Ethereum blockchain and can see that the active users count on other DEXs records high when compared to Uniswap.
Here is the bar chart that represents the daily transaction volume recorded on Uniswap and other DEXs on Ethereum blockchain over the past few years. It is obvious from these graphs that a majority of transaction volume has been observed for Uniswap when compared across other DEXs and highest transaction volume for Uniswap has been recorded on 16th March 2021.
Active users in general will be defined as the user who had performed one or more transactions over the protocol or DEX in the recent days like within the past 3 months.
Here is the chart that shows the total number of users who have transacted on Uniswap DEX and other DEXs over the past few months on Ethereum blockchain. This graph clearly says that most of the users are transacting on Uniswap when compared to the rest and can see a maximum number of users of around 5K have performed Uniswap transactions on 17th September 2020.
Observations:
On seeing all the above graphs and visuals, we can infer that the market share for Uniswap always remains high when compared to other DEXs in terms of standard metrics such as Total number of transactions, Average Trading volume, Total value locked (TVL), Total number of Users etc..
Total Value Locked (TVL) is one of the standard metrics used to measure the health of DeFi in terms of the amount of crypto locked in DeFi Lending and other types of money market places.
In this graph, we can examine the daily statistics of Total value locked (TVL) of Uniswap DEX and compared the same with other DEXs on Ethereum blockchain and it seems the total value locked of Uniswap transactions grabs the maximum value when compared to the TVL locked over the other DEXs.