$2B Locked: Uniswap Now Bigger Than Entire DeFi Industry Just Two Months Ago

Uniswap clocked the record figure just after midnight (UTC) Monday and currently has $2.06 billion worth of crypto assets locked in, according to crypto rankings website DeFi Pulse. Testament to its neck-breaking growth, there’s now more value just in Uniswap than there was in the entire DeFi space on July 9.

As of press time, there’s now more than billion in total value locked (TVL) in DeFi, with Uniswap making up approximately 18% of that. Based on Ethereum, Uniswap utilizes an automated market-making system leveraging liquidity pools so users can exchange or “swap” between ether (ETH) and any ERC-20 token.

Holders are incentivized to deposit tokens in these liquidity pools with interest and a cut of the swap fee – the total balance in these pools together make up Uniswap’s

As of press time, there’s now more than $11 billion in total value locked (TVL) in DeFi, with Uniswap making up approximately 18% of that. Based on Ethereum, Uniswap utilizes an automated market-making system leveraging liquidity pools so users can exchange or “swap” between ether (ETH) and any ERC-20 token.

Holders are incentivized to deposit tokens in these liquidity pools with interest and a cut of the swap fee – the total balance in these pools together make up Uniswap’s $2 billion TVL. Monday’s news shows just how much Uniswap’s fortunes have changed in the past few weeks.

Back in early September, $830 million worth of vital liquidity moved to rival protocol SushiSwap, leading to Uniswap’s TVL to plunge to just $400 million by September 10.
A week later, in order to coax users back, Uniswap launched its own native UNI token and airdropped over $500 million to wallet addresses who had been using the protocol since before September.

UNI token has led users to quickly snap back to Uniswap and its TVL was approximately $1.8 billion just days after the token launched.

$2B Locked: Uniswap Now Bigger Than Entire DeFi Industry Just Two Months Ago, CoinDesk

billion TVL. Monday’s news shows just how much Uniswap’s fortunes have changed in the past few weeks.

Back in early September, 0 million worth of vital liquidity moved to rival protocol SushiSwap, leading to Uniswap’s TVL to plunge to just 0 million by September 10.
A week later, in order to coax users back, Uniswap launched its own native UNI token and airdropped over 0 million to wallet addresses who had been using the protocol since before September.

UNI token has led users to quickly snap back to Uniswap and its TVL was approximately

.8 billion just days after the token launched.

As of press time, there’s now more than $11 billion in total value locked (TVL) in DeFi, with Uniswap making up approximately 18% of that. Based on Ethereum, Uniswap utilizes an automated market-making system leveraging liquidity pools so users can exchange or “swap” between ether (ETH) and any ERC-20 token.

Holders are incentivized to deposit tokens in these liquidity pools with interest and a cut of the swap fee – the total balance in these pools together make up Uniswap’s $2 billion TVL. Monday’s news shows just how much Uniswap’s fortunes have changed in the past few weeks.

Back in early September, $830 million worth of vital liquidity moved to rival protocol SushiSwap, leading to Uniswap’s TVL to plunge to just $400 million by September 10.
A week later, in order to coax users back, Uniswap launched its own native UNI token and airdropped over $500 million to wallet addresses who had been using the protocol since before September.

UNI token has led users to quickly snap back to Uniswap and its TVL was approximately $1.8 billion just days after the token launched.

$2B Locked: Uniswap Now Bigger Than Entire DeFi Industry Just Two Months Ago, CoinDesk

B Locked: Uniswap Now Bigger Than Entire DeFi Industry Just Two Months Ago, CoinDesk