Uniswap
Uniswap
Uniswap is the leading DEX by spot volume and the inventor of the AMM model, with over $3.67T in cumulative volume and no KYC at the protocol level. Its main drawbacks are high gas costs on Ethereum L1 and the impermanent loss faced by liquidity providers. As a non-custodial protocol, users retain control of their funds.
Data & conditions
| Liquidity model | AMM |
|---|---|
| Maker / Taker fee | 0.05% / 1% |
| Markets | Spot |
| Supported chains | Ethereum, Optimism, Arbitrum, Base, Polygon, BSC, Avalanche, Celo, ZkSync |
| TVL (as of Jun 13) | $4.5B |
| 24h volume | $1.28B |
| Native token | UNI |
| Fund custody | Non-custodial (funds in your wallet) |
| Supported wallets | Uniswap Wallet, MetaMask, Coinbase Wallet, Trust Wallet, WalletConnect |
| Audits | OpenZeppelin, Trail of Bits, Spearbit, Certora, ABDK, Pashov Audit Group |
| Governance | DAO + UNI token |
| KYC | Full |
| Supported countries | US, EEA, APAC, LATAM, MENA, AFRICA · 200+ countries |
| Regulator | None |
| Segment | B2C |
| MiCA / License status | None (decentralized protocol) |
Strengths
- #1 DEX for volume spot; $3,67T cumulativo; inventore AMM; zero KYC.
- Self-custody: funds stay in your wallet — the platform cannot touch them.
- Permissionless and decentralized: no approval needed to operate.
- Public security audits.
Weaknesses
- Gas ETH L1 high; impermanent loss for LP.
- Full KYC required: verified identity, zero pseudonymity.
Verdict
Even the most-used DEX offers no formal protection: no regulator, no guarantees, self-held keys. Users providing liquidity are exposed to impermanent loss, a far from intuitive risk, and high gas costs on Ethereum L1 penalise small amounts. The grade stays near the top for reliability and depth, but it's protocol quality that earns it, not consumer protection.
Here Uniswap is the absolute benchmark: the top DEX by spot volume and inventor of the AMM model, with over $3.67T cumulative volume, presence on nine chains, no KYC at the protocol level, on-chain settlement and full fund control. A trustless, neutral and censorship-resistant infrastructure at the highest level; high gas on Ethereum L1 and impermanent loss for liquidity providers are the only real frictions.
Promp's editorial rating based on real fees and net annual cost. Promp reviews third-party products independently.
"Sovereignty" rating: score computed on privacy/anonymity (30%), fund control (20%), censorship resistance (20%), trustless/auditability (20%) and costs (10%). Same data, different weights.
FAQ
Is Uniswap truly decentralized?
Uniswap is a non-custodial decentralized exchange: funds stay in your wallet. Liquidity model: AMM. Governance token: UNI.
Which blockchains does Uniswap support?
Uniswap is available on Ethereum, Optimism, Arbitrum, Base, Polygon, BSC, Avalanche, Celo and ZkSync.
What is Uniswap's TVL?
Uniswap's Total Value Locked is about $4.5B (snapshot 2026-06-13). The figure is dynamic: check the live value on DefiLlama.
What are Uniswap's fees?
Uniswap's trading fees range 0.05% – 1%. On top of these there are on-chain gas fees, which vary with network congestion.
Does Uniswap support perpetuals and leverage?
Uniswap does not offer perpetuals. It supports spot token swaps.
Sources
- Official service page Liquidity model · TVL · Blockchain · Fees Data verified on Jun 13, 2026
- about.uniswap.org OAM Italy registry · Deposit guarantee · Proof-of-Reserves · Company type · +1 Data verified on Jun 14, 2026
- openzeppelin.com Security audit Data verified on Jun 14, 2026
- support.uniswap.org Supported wallets Data verified on Jun 14, 2026
Show 3 more sources
- theblock.co Legal name · Stock ticker · Stock listing · IPO date · +3 Data verified on Jun 14, 2026
- trustpilot.com Trustpilot reviews Data verified on Jun 14, 2026
- coinlaw.io Founders · 24h volume · Governance · Past incidents · +2 Data verified on Jun 13, 2026