Uniswap

Uniswap is an Ethereum-based decentralized cryptocurrency exchange that allows cryptocurrency trading, including tokens from DeFi protocols such as MakerDAO’s DAI, AAVE, and Compound, using an automated market maker (AMM) protocol and liquidity pools. Uniswap also offers tools for developers to create apps on top of Uniswap’s offerings. As of May 2024, Uniswap had a total value locked (TVL) of over USD 5.4 billion and had integrations with over 300 DeFi apps. Additionally, the protocol also offers UniswapX, a permissionless liquidity aggregation protocol, which will enable users to tap into over USD 13 billion of liquidity on the Ethereum mainnet. Uniswap is a DAO, governed by holders of its native token, UNI.

In April 2022, Uniswap launched a venture capital arm to invest in companies across various stages and areas in the web 3.0 space such as infrastructure and developer tools, and external decentralized applications. The company stated that investments will be made directly from its own balance sheet, but it did not disclose the size of the fund. Before the launch of the fund, Uniswap had invested in 11 web 3.0 related companies and protocols, including Tenderly, LayerZero, MakerDAO, Aave, Compound Protocol and PartyDAO.

In April 2023, Uniswap launched a mobile wallet application to enable users to buy, swap, and track the trading activity of cryptocurrencies and NFTs. The app was made available for download in the Apple App Store after being approved in several countries.

In June 2023, the company revealed its plans for a major upgrade to its network (dubbed V4), which added a range of new features. Scheduled for launch in Q3 of 2024, the upgrade was to introduce: 1) smart contract “hooks”, which enables developers to implement specific functions into liquidity pools; 2) a “singleton” contract, which consolidates all pools into one smart contract to reduce gas fees; 3) a flash accounting system, which enables users to securely chain multiple actions in one transaction; and 4) native support for Ethereum.

Key customers and partnerships

In December 2023, Uniswap partnered with Talos, a digital asset investment platform, to offer Talos’ institutional clients access to its trading APIs. The companies also plan to enable institutional clients to use UniswapX in the future.

In June 2024, Uniswap Labs partnered with Transak, a Web3 payments infrastructure provider, to provide its digital wallet users with access to DeFi services via a fiat-currency on-ramp. The partnership enabled users to purchase cryptocurrencies directly within the wallet using Transak's payment options, which include Apple Pay, Google Pay, credit/debit cards, and over 20 localized methods.