Uniswap statistics from DefiLlama show the protocol processed $3.671 trillion in cumulative decentralized exchange volume as of May 2026 across V2, V3, and V4. The protocol carries $3.415 billion in total value locked and an annualized fee run-rate of $475.17 million across all chains and versions. Three structural shifts reshaped the protocol since the prior baseline: Uniswap V4 launched on January 31, 2025; Uniswap Labs disclosed on February 25, 2025, that the SEC closed its multi-year investigation with no action; and the UNIfication governance proposal, posted on November 10, 2025, activates protocol fees on v2 pools and selected v3 pools, routing those fees to a UNI burn.
Key Takeaways
- Uniswap processed $3.671 trillion in cumulative DEX volume across V2, V3, and V4 by May 2026, per DefiLlama data.
- Total value locked sits at $3.415 billion, with Ethereum mainnet holding $2.359 billion of the protocol’s liquidity.
- The SEC officially closed its multi-year investigation into Uniswap Labs with no action on February 25, 2025.
- The UNIfication proposal, posted November 10, 2025, activates protocol fees on v2 and selected v3 pools and retroactively burns 100 million UNI from the treasury.
- Uniswap V4 launched January 31, 2025, and across V2 and V3, the protocol supported over $2.75 trillion in trading volume and 465 million swaps without a single hack.
- V4 is now deployed across 18 mainnet chains per the official developer docs, up from 10 chains at launch (Ethereum, Polygon, Arbitrum, OP Mainnet, Base, BNB Chain, Blast, World Chain, Avalanche, and Zora Network).
- UNI circulating supply stands at 633,561,603 tokens against a total supply of 1,000,000,000.
Editor’s Choice
- Uniswap annualized fees reach $475.17 million as of May 2026, per DefiLlama.
- The protocol generated $38.497 billion in trading volume over the trailing 30 days.
- Annualized protocol revenue stands at $36.3 million.
- UNI token market cap is $2.331 billion, against an all-time high of $44.92.
- The Uniswap treasury holds $938.21 million in protocol-controlled assets.
- Pool creation gas costs dropped up to 99.99% versus prior versions on V4.
- Over 150 hooks had been developed by the V4 launch on January 31, 2025.
Recent Developments
- As of May 2026, Uniswap’s annualized fee run-rate stands at $475.17 million with 30-day fees of $38.95 million per DefiLlama.
- Cumulative all-time DEX volume stood at $3.671 trillion as of May 2026.
- 24-hour DEX volume reached $1.276 billion during the May 2026 snapshot window.
- The protocol treasury value reached $938.21 million in May 2026 measurements.
- Ethereum mainnet still leads fee generation at $16.47 million over the trailing 30 days, followed by Base at $14.13 million.
- 30-day cumulative revenue reached $2.98 million during the May 2026 window.
Uniswap Statistics: Cumulative Volume and All-Time Trading Activity
- Cumulative DEX volume across V2, V3, and V4 reached $3.671 trillion by May 2026, per DefiLlama’s protocol page.
- Across V2 and V3 alone, the protocol supported over $2.75 trillion in trading volume by the V4 launch announcement.
- Trailing 30-day DEX volume sits at $38.497 billion across all chains.
- 7-day DEX volume reached $8.748 billion over the May 2026 window.
- 24-hour DEX volume reached $1.276 billion in the same snapshot.
- Ethereum mainnet contributed $692.27 million of the 24-hour DEX volume.
- Ethereum contributed $4.742 billion of the 7-day total and $23.162 billion of the 30-day total.
- The protocol supported 465 million swaps across V2 and V3 without a single hack per Uniswap Labs.
- Cumulative volume at the V4 vision post totaled over $1.5 trillion as of June 13, 2023.
- The growth from the V4-vision baseline reflects a roughly 2.4x multiple in cumulative DEX volume, from over $1.5 trillion at the June 13, 2023, vision post to $3.671 trillion in May 2026.
| Volume Window | Total DEX Volume | Ethereum Share | Window |
|---|---|---|---|
| 24 hours | $1.276 billion | $692.27 million | May 2026 snapshot |
| 7 days | $8.748 billion | $4.742 billion | Trailing 7-day window |
| 30 days | $38.497 billion | $23.162 billion | Trailing 30-day window |
| Cumulative (V2+V3+V4) | $3.671 trillion | All chains | All-time |
| Cumulative (V2+V3 only) | $2.75 trillion | All chains | Through Jan 31, 2025 |
| Cumulative at V4 vision | $1.5 trillion | All chains | June 13, 2023 |
Source: DefiLlama, Uniswap Labs
By the numbers: Across V2 and V3, Uniswap supported over $2.75 trillion in trading volume at the V4 launch on January 31, 2025, and cumulative DEX volume across all versions stood at $3.671 trillion as of May 2026, per Uniswap Labs and DefiLlama. The Uniswap statistics show a no-hack record across V2 and V3 that remains unmatched among major decentralized exchanges.
Uniswap V4 Launch and Adoption Statistics
- Uniswap V4 went live on January 31, 2025, per Uniswap Labs’ launch announcement.
- V4 deployed across 10 chains at launch: Ethereum, Polygon, Arbitrum, OP Mainnet, Base, BNB Chain, Blast, World Chain, Avalanche, and Zora Network.
- Pool creation gas costs dropped up to 99.99% cheaper than in previous versions, per Uniswap Labs.
- Over 150 hooks had already been developed by the V4 launch, supporting functionality from dynamic fees to automated liquidity management.
- V4 launch security drew nine audits, a $2.35 million security competition with over 500 participants, and the largest bug bounty in history, offering $15.5 million with no critical bugs discovered during the launch window.
- Today, V4 is deployed across 18 mainnet chains per the developer documentation.
- The chain footprint has grown roughly 80% since the V4 launch, from 10 mainnet chains to 18.
| V4 Launch Metric | Value | Source Date |
|---|---|---|
| Launch date | January 31, 2025 | Uniswap Labs |
| Launch chains | 10 mainnet chains | January 31, 2025 |
| Current mainnet chains | 18 | May 2026 |
| Hooks at launch | Over 150 | January 31, 2025 |
| Security audits at launch | 9 | January 31, 2025 |
| Security competition | $2.35 million, 500+ participants | January 31, 2025 |
| Bug bounty at launch | $15.5 million | January 31, 2025 |
| Pool creation gas savings | Up to 99.99% | vs prior versions |
Source: Uniswap Labs, Uniswap developer documentation
What is Uniswap V4?
Uniswap V4 is the fourth major version of the Uniswap protocol, introducing hooks as plugins that customize how pools, swaps, fees, and LP positions interact, alongside a singleton contract design in which all pools live within a single smart contract. The architecture reduces pool creation gas costs by up to 99% per the initial vision post and supports use cases including time-weighted average market makers, dynamic fees, on-chain limit orders, and automated LP fee compounding.
V4 Architecture and Hooks
- The singleton design eliminates token transfers between separate pool contracts, lowering gas costs across multi-hop swaps.
- Hooks expand the protocol’s customization surface; over 150 hooks had been developed by launch per Uniswap Labs.
- Native ETH swaps in V4 yield significant additional gas savings.
Uniswap Total Value Locked by Version and Chain
- Total value locked across all chains reaches $3.415 billion as of May 2026 per DefiLlama.
- Ethereum mainnet holds $2.359 billion of the protocol’s TVL.
- Base contributes $485.11 million to TVL in the same snapshot.
- Arbitrum holds $252.71 million of the protocol’s liquidity.
- BNB Smart Chain accounts for $119.69 million of TVL.
- Polygon contributes $76.44 million of the protocol’s TVL.
- Ethereum’s share of total Uniswap TVL works out to roughly 69% of the protocol’s standing liquidity when measured against the $3.415 billion all-chains total.
- V4 deployment now spans 18 mainnet chains plus 6 testnet chains per the official developer docs, so liquidity is distributed across a wider footprint than at the V4 launch.
Uniswap Daily and Monthly Trading Volume
- 24-hour DEX volume reached $1.276 billion during the May 2026 snapshot per DefiLlama.
- 7-day DEX volume totaled $8.748 billion across all chains.
- 30-day DEX volume reached $38.497 billion across all chains.
- Ethereum mainnet contributed $692.27 million of the 24-hour volume.
- Ethereum contributed $4.742 billion of the 7-day total.
- Ethereum’s 30-day contribution reached $23.162 billion.
- Ethereum’s share of trailing 30-day volume works out to roughly 60% of total DEX volume when comparing the $23.162 billion mainnet figure to the $38.497 billion all-chains total.
- The protocol’s trailing-30-day fee total reached $38.95 million over the same window.
Uniswap Fees and Protocol Revenue
- Annualized fees reach $475.17 million as of May 2026 per DefiLlama.
- 30-day fees total $38.95 million across all chains.
- 7-day fees reach $9.33 million.
- 24-hour fees reach $1.57 million.
- Annualized protocol revenue stands at $36.3 million.
- 30-day revenue totals $2.98 million.
- 7-day revenue reaches $657,573.
- 24-hour revenue reaches $72,882.
- Cumulative revenue totals $12.3 million.
- Ethereum leads fee generation at $16.47 million over the trailing 30 days.
- Base follows at $14.13 million over the trailing 30 days.
How much is the Uniswap fee?
Uniswap fees vary by pool tier and protocol version. For v2 pools after UNification activation, LP fees become 0.25% and protocol fees become 0.05%, down from a previous LP fee of 0.3% with fees off. For v3 pools at the 0.01% and 0.05% tiers, protocol fees would be 1/4 of LP fees; for v3 0.30% and 1% pools, protocol fees would be 1/6 of LP fees per the UNIfication proposal text.
Is Uniswap profitable?
The protocol generates annualized fees of $475.17 million against annualized protocol revenue of $36.3 million as of May 2026. Protocol revenue runs roughly 7.6% of total fees, with the remainder flowing to liquidity providers. The UNIfication proposal, once fully implemented, redirects a portion of LP fees on v2 pools and selected v3 pools to a UNI burn rather than to LPs alone.
Fees are now feeding the UNI burn. The UNIFication proposal changed how value flows back to token holders rather than purely to liquidity providers on the affected tiers.
UNI Token Statistics and Tokenomics
- UNI circulating supply stands at 633,561,603 tokens per CoinGecko.
- Total UNI supply is 1,000,000,000 tokens per CoinGecko.
- UNI all-time high price reached $44.92 per CoinGecko’s historical data, cross-referenced with DefiLlama.
- UNI market cap stands at $2.331 billion as of May 2026 per DefiLlama.
- UNI launched in September 2020 with an initial four-year token distribution schedule followed by a perpetual inflation rate of 2% to maintain network participation per CoinGecko.
- The protocol treasury holds $938.21 million in protocol-controlled assets per DefiLlama.
- Circulating supply works out to roughly 63.4% of the maximum token supply.
| UNI Token Metric | Value | Source |
|---|---|---|
| Circulating supply | 633,561,603 | CoinGecko |
| Total supply | 1,000,000,000 | CoinGecko |
| All-time high | $44.92 | CoinGecko / DefiLlama |
| Market cap (May 2026) | $2.331 billion | DefiLlama |
| Token launch | September 2020 | CoinGecko |
| Perpetual inflation rate | 2% | CoinGecko |
| Treasury value (May 2026) | $938.21 million | DefiLlama |
Source: CoinGecko, DefiLlama
After UNIFication, the proposal changes how fees touch the circulating float on Ethereum and other chains where v2 and v3 pools sit.
UNIfication Proposal and Fee Switch Activation
- The UNIfication proposal was posted on November 10, 2025, to Uniswap governance per Uniswap Labs.
- The proposal calls for a retroactive burn of 100 million UNI from the treasury, described as an estimate of what might have been burned if the protocol fee switch had been active at token launch.
- The proposal aims to turn on Uniswap protocol fees and use these fees to burn UNI, starting with v2 pools and selected v3 pools representing 80-95% of LP fees on Ethereum mainnet.
- For v2 pools, LP fees become 0.25% and protocol fees become 0.05%, down from a previous LP fee of 0.3% with fees off.
- For v3 pools at the 0.01% and 0.05% tiers, protocol fees would be 1/4 of LP fees.
- For v3 pools at the 0.30% and 1% tiers, protocol fees would be 1/6 of LP fees.
- The proposal moved through a Snapshot vote and then an on-chain vote per Uniswap Labs.
| UNIfication Mechanic | Value |
|---|---|
| Proposal posted | November 10, 2025 |
| Retroactive treasury burn | 100 million UNI |
| Share of v2/v3 LP fees affected (Ethereum mainnet) | 80-95% |
| v2 LP fee (post-activation) | 0.25% |
| v2 protocol fee (post-activation) | 0.05% |
| v3 0.01% / 0.05% tier protocol-fee share | 1/4 of LP fees |
| v3 0.30% / 1% tier protocol-fee share | 1/6 of LP fees |
Source: Uniswap Labs, UNIfication proposal
Estimated Annualized Burn Impact
Trailing-30-day fees across all chains totaled $38.95 million per DefiLlama. The protocol-fee slice under UNIfication’s v2 tier equals one-fifth of v2 LP fees. Annualizing that share against the 30-day fee base yields an implied v2-pool burn near $93.5 million in fee value redirected from LPs to UNI burn, scaling with the actual v2/v3 pool mix.
The fee switch reshapes UNI economics; the chain footprint defines where those fees will accumulate. Across CoinLaw’s coverage of DeFi tokenomics, fee-burning mechanisms typically take six to nine months to show measurable supply impact.
Uniswap Chain Deployments and Multi-Chain Footprint
- V4 is deployed across 18 mainnet chains: Ethereum, Unichain, Optimism, Base, Arbitrum One, Polygon, Blast, Zora, Worldchain, X Layer, Ink, Soneium, Avalanche, BNB Smart Chain, Celo, Monad, MegaETH, and Tempo per the official developer docs.
- The chain IDs are Ethereum (1), Unichain (130), Optimism (10), Base (8453), Arbitrum One (42161), Polygon (137), Blast (81457), Zora (7777777), Worldchain (480), X Layer (196), Ink (57073), Soneium (1868), Avalanche (43114), BNB Smart Chain (56), Celo (42220), Monad (143), MegaETH (4326), and Tempo (4217).
- Six testnet chains carry V4 deployments: Unichain Sepolia (1301), Sepolia (11155111), Base Sepolia (84532), Arbitrum Sepolia (421614), interop-alpha-0 (420120000), and interop-alpha-1 (420120001).
- At V4 launch, the chain footprint was 10 chains: Ethereum, Polygon, Arbitrum, OP Mainnet, Base, BNB Chain, Blast, World Chain, Avalanche, and Zora Network.
- Chain count growth from launch added 8 mainnet chains over the 16 months since V4 went live.
- The developer documentation notes integrators should no longer assume V4 is deployed to the same addresses across chains and must verify mappings before integration.
| Chain | Chain ID | V4 Launch (Jan 2025) | Current (May 2026) |
|---|---|---|---|
| Ethereum | 1 | Yes | Yes |
| Polygon | 137 | Yes | Yes |
| Arbitrum One | 42161 | Yes | Yes |
| Optimism | 10 | Yes | Yes |
| Base | 8453 | Yes | Yes |
| BNB Smart Chain | 56 | Yes | Yes |
| Blast | 81457 | Yes | Yes |
| Worldchain | 480 | Yes | Yes |
| Avalanche | 43114 | Yes | Yes |
| Zora | 7777777 | Yes | Yes |
| Unichain | 130 | No | Yes |
| X Layer | 196 | No | Yes |
| Ink | 57073 | No | Yes |
| Soneium | 1868 | No | Yes |
| Celo | 42220 | No | Yes |
| Monad | 143 | No | Yes |
| MegaETH | 4326 | No | Yes |
| Tempo | 4217 | No | Yes |
Source: Uniswap developer documentation, Uniswap Labs
The 80% chain-count expansion since the V4 launch is the structural shift most reference articles still miss when they cite the original ten-chain figure.
Unichain Statistics and Layer 2 Volume Share
- Unichain carries chain ID 130 as a native V4 chain per the developer docs.
- V4 deployments include Unichain Sepolia (chain ID 1301) on testnet.
- The protocol’s overall trailing-30-day DEX volume reached $38.497 billion across all chains per DefiLlama.
- Unichain’s TVL contribution rolls into the $3.415 billion protocol total alongside Ethereum mainnet’s $2.359 billion.
- The chain footprint expansion to 18 mainnet chains plus 6 testnets places Unichain alongside other V4-native networks like X Layer, Ink, and Soneium.
| Unichain Footprint | Detail |
|---|---|
| Chain ID | 130 |
| Testnet Chain ID | 1301 (Unichain Sepolia) |
| V4 deployment | Native |
| Sister V4-native chains | X Layer, Ink, Soneium |
| Total V4 mainnet chains | 18 |
Source: Uniswap developer documentation, DefiLlama
Why it matters: Uniswap V4 sits across 18 mainnet chains while the trailing-30-day total of $38.497 billion in DEX volume flows through all versions, per the Uniswap developer docs and DefiLlama. Unichain’s role as a V4-native L2 means its share of total Uniswap volume is the product of V4’s protocol share and Unichain’s share within V4: a derived metric that frames the chain’s true weight inside the protocol.
SEC Wells Notice and Closure Timeline
- Uniswap Labs announced on February 25, 2025, that the SEC had officially closed, with no action, its multi-year investigation into Uniswap Labs.
- The closure followed the Wells Notice the SEC had issued in April 2024, alleging that Uniswap Labs operated an unregistered securities exchange, engaged in unregistered broker or clearing-firm activity, and issued an unregistered security.
- Uniswap Labs framed the closure as a win for DeFi broadly.
- The Brooklyn-based company received the original investigation notice in April 2024 and contested the SEC’s regulatory framing throughout 2024.
- The closure date sits roughly 9 months before the November 10, 2025, UNification proposal, indicating the cadence from regulatory clearance to fee-switch governance work.
| SEC Timeline | Date | Event |
|---|---|---|
| Wells Notice issued | April 2024 | SEC alleged unregistered exchange, broker, security |
| Closure announced | February 25, 2025 | No action taken |
| UNIfication proposal | November 10, 2025 | Fee switch governance vote |
| Months from closure to UNIfication | ~9 months | Regulatory clearance to fee mechanic |
Source: Uniswap Labs blog
Key finding: The SEC closed its multi-year investigation into Uniswap Labs with no action on February 25, 2025, after issuing the original Wells Notice in April 2024. The closure removed a regulatory overhang that had constrained governance discussions on the protocol-fee switch.
Did the SEC drop the Uniswap case?
Yes. The SEC formally closed the investigation with no action on February 25, 2025, per Uniswap Labs. The closure ended the investigation without charges, not as a court ruling on the merits.
Regulatory clarity unlocked structural changes; the hooks system unlocked architectural changes. The pattern we’ve documented across SEC crypto enforcement data holds: enforcement clearance precedes governance activity by roughly six to twelve months.
Uniswap Hooks and Custom Pool Statistics
- Over 150 hooks had been developed by the V4 launch on January 31, 2025, per Uniswap Labs.
- Hooks support functionality from dynamic fees to automated liquidity management.
- The V4 architecture introduces a singleton contract design in which all pools live within a single smart contract, eliminating token transfers between separate pool contracts.
- Hook use cases include time-weighted average market makers, dynamic fees, on-chain limit orders, and automated LP fee compounding.
- Pool creation gas costs dropped up to 99.99% cheaper than in previous versions.
- The original V4 vision post described pool creation gas reductions of up to 99% alongside the singleton architecture published on June 13, 2023.
- Native ETH support on V4 adds significant additional gas savings.
| Hook Capability | Description |
|---|---|
| Dynamic fees | Fees can adjust based on volatility or pool conditions |
| Time-weighted AMMs | TWAMM pools execute orders over time |
| Onchain limit orders | Limit-order functionality without off-chain matching |
| Automated LP fee compounding | Fees re-deposited into LP positions automatically |
| Custom hook logic | Developers build pool-specific behavior |
Source: Uniswap Labs, Uniswap V4 vision post
Uniswap Market Share and DEX Competition
- Uniswap’s cumulative DEX volume reached $3.671 trillion as of May 2026 per DefiLlama, the largest single-protocol cumulative figure on the platform’s protocol page.
- The protocol’s trailing-30-day volume totaled $38.497 billion across all chains.
- The protocol’s no-hack record covers 465 million swaps across V2 and V3 by the V4 launch per Uniswap Labs.
- 24-hour DEX volume reached $1.276 billion during the May 2026 snapshot window.
- Ethereum mainnet still drives $23.162 billion of the trailing-30-day volume.
Uniswap Governance Participation Statistics
- Phase 2 of the Uniswap governance process requires a majority vote with a 10 million UNI yes-vote threshold for a proposal to advance per the Uniswap Foundation.
- Phase 3 requires a minimum balance of 1 million UNI delegated for delegates submitting proposals on the chain.
- On-chain passage requires at least 40 million UNI to vote in favor of a proposal to pass the on-chain stage.
- The Uniswap Foundation directs users to external dashboards, including Agora, Tally, and the Uniswap Governance Forum for live participation statistics, vote histories, and delegate concentration data.
- The page emphasizes that governance authority rests with UNI holders, and the protocol treasury is governed exclusively through the proposal process.
- The UNIfication proposal moved through a Snapshot vote and then an on-chain vote following the standard governance phases.
- The 40 million UNI on-chain threshold represents roughly 6.3% of UNI’s circulating supply of 633,561,603 tokens.
| Governance Stage | Threshold | Detail |
|---|---|---|
| Phase 2 | 10 million UNI yes-vote | Majority vote threshold |
| Phase 3 (delegate eligibility) | 1 million UNI delegated balance | Required to submit onchain proposals |
| Phase 3 (passage) | 40 million UNI in favor | Onchain stage |
| Live dashboards | Agora, Tally, Uniswap Governance Forum | Per Uniswap Foundation |
Source: Uniswap Foundation governance documentation
Common Questions
How many users does Uniswap have?
Uniswap does not publish a single live user count, but the protocol supported 465 million swaps across V2 and V3 by the V4 launch, per Uniswap Labs. Active address counts vary by chain and version; DefiLlama and chain-level explorers track wallet-level activity per snapshot rather than a single cumulative-user figure. UNI holder counts, and delegate concentration sit on dashboards including Agora, Tally, and the Uniswap Governance Forum per the Uniswap Foundation.
Who owns Uniswap?
Uniswap Labs developed the protocol, and the Brooklyn-based company received the original SEC investigation notice in April 2024, per Uniswap Labs. Governance authority over the protocol rests with UNI holders, and the protocol treasury is governed exclusively through the proposal process per the Uniswap Foundation. The Uniswap Foundation supports governance operations and ecosystem grants. UNI holders make protocol-level decisions through the three-phase governance process, including treasury usage and proposal approvals like UNIfication.
Conclusion
Uniswap closed the 35 months from the V4 vision post in June 2023 to May 2026 with cumulative DEX volume above $3.671 trillion and a protocol footprint that reaches across 18 mainnet chains. Four shifts define the protocol’s standing this year: the V4 launch on Stablecoin-rich chains; the SEC’s no-action closure; the UNIfication fee-burn proposal; and Unichain’s V4-native role. The pattern across MiCA DeFi platforms, regulatory clearance preceding fee-switch governance by roughly nine months, fits the broader DeFi cadence.
Annualized fees of $475.17 million flow against a treasury of $938.21 million and a market cap of $2.331 billion, with the GitHub developer ecosystem shipping hooks on top of V4. Track the share of v2/v3 LP fees routed to burn, the testnet-to-mainnet chain promotion cadence, and participation against the 40 million UNI passage threshold.
