Uniswap has reached a new milestone by becoming the first decentralized exchange to hit $3 trillion in total trading volume.
Hayden Adams, the founder of Uniswap, shared the benchmark on May 12 in post on X. He thanked users for their participation and hinted at bigger goals in the future. Hayden attached an infographic from a Dune Analytics dashboard showing just how far the platform has come.Â
Uniswap is the first DEX to $3T volume ð¦Bet its the first to 10Grateful to everyone who swapped along the way as we decentralize the global finance system ð pic.twitter.com/945Ab0Jpslâ Hayden Adams ð¦ (@haydenzadams) May 12, 2025
Even though Uniswapâs (UNI) trading volume is high, the platformâs total value locked is now around $4.8 billion, less than half of its 2021 peak. This decline is consistent with a significant pullback in the larger decentralized finance market. DeFiâs total TVL is now about $117 billion, compared to a peak of $174 billion in 2021, according to DeFiLlama data.Â
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Still, Uniswapâs monthly trading numbers remain strong. It has seen over $150 billion in volume each month in 2025. It earned roughly $150 million in fees in January, but in April, this amount decreased to just over $60 million.
Recent upgrades have helped keep the platform growing. Uniswap v4 , launched in January, introduced new features like flexible trading tools and lower gas costs. Its new layer 2 network, Unichain, launched in February and built on the OP Stack, has already processed more than $4 billion in volume. Unichain helps users trade faster and more cheaply than on Ethereumâs (ETH) main network.
Following the Ethereum Pectra upgrade, which went live on May 7, 2025, Uniswap implemented support for EIP-7702.This Ethereum Improvement Proposal allows Externally Owned Accounts to temporarily act like smart contracts during a transaction. This enables features such as transaction batching, gas sponsorship, and smart recovery without migrating to full smart contract accounts.
Uniswapâs token, UNI, is up 1.4% as of press time and over 40% in the past week. Still, itâs down more than 80% from its all-time high of $44.92 set back in May 2021.
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在 LIBRA memecoin 崩盘的影响下,Pump.fun 的创始人呼吁对代币启动板实施更严格的保护,以保护用户免受内部诈骗和操纵性代币发布的侵害。
根据 2 月 18 日的 X 帖子,基于 Solana 的 meme 币发行商的匿名创始人表示,他对围绕 LIBRA 的事件及其对加密生态系统的影响感到“厌恶”。
“这个项目的幕后人员以牺牲众多用户、生态系统甚至整个国家为代价,获取了丰厚的个人利益。我希望责任人得到应有的惩罚。”Alon 在 X 上写道。
他批评了 LIBRA 发布中“开发团队”和“做市商”等中间人的参与,认为创建 memecoin 应该是一个简单的过程,以便“任何人都可以做到”,而不依赖于这些可以利用这个过程的参与者。
Alon also defended Pump.funâs model, saying it was built âto explicitly tackle some of the issues that have been exposedâ in the LIBRA fallout by standardizing and automating the token creation process.
Moving forward, he called for token launchpads to implement better protections to âensure users are as safe as possible while meeting their demands.â He outlined three key areas where improvements are neededâeducation, onboarding, and user protection.
Alon stressed that while Pump.fun made launching meme coins easy, what happens after a coin is created is largely unaddressed. As such, he argued that users should be better educated on ethical token launches, including setting expectations, managing supply, dealing with snipers, and understanding when itâs appropriate to take profits.
他补充道:“用户应该能够自己做出决定并承担责任,而不是依赖第三方。”
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他还指出,新交易员的入职培训需要更加方便,并强调专业交易员总会找到利用自由市场机会的方法。据他说,平台、影响者和生态系统参与者应确保根据用户的交易经验水平对其进行指导。
最后,阿隆呼吁在“界面层面”采取更强有力的用户保护措施。虽然没有任何无需许可的平台能够完全防止“链上不良后果”,但他认为,界面可以通过限制可疑交易活动的代币的可见性并确保滑点设置等功能合理来创造一个更安全的环境。
LIBRA, launched on Feb. 15, drew a lot of attention after Argentine President Javier Milei briefly shared it on X, branding it as the official token of Argentina. The endorsement triggered a frenzy, pushing LIBRAâs price to a high of over $4 before crashing below 50 cents within hours.
Allegations of market manipulation emerged after several wallets reportedly siphoned off over $107 million in single-sided liquidity, draining the tokenâs pool. Shortly after, Milei deleted his post, and LIBRAâs market cap collapsed by $4.4 billion in just six hours.
Milei has refuted claims that he endorsed the token, saying that his intention was only to share information about the token and not encourage people to invest in it.
Read more:Pump.fun addresses âwrongâ token launch rumors on heels of lawsuit