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Crypto Conversation: Uniswap Hits $30 Billion in Total Value Locked

This Ethereum-based project keeps decentralized exchanges liquid.

What’s Hot in Crypto This Week?

Uniswap. It's an automated market maker based on the cryptocurrency Ethereum. It uses "smart contracts" to solve the liquidity issue inherent in decentralized exchanges. Instead of creating order books, users exchange tokens by interacting with pools of token pairs that others have deposited. Users can also contribute to liquidity pools and earn exchange fees.


Total volume on Uniswap skyrocketed in January, reaching $30 billion total value locked. This is twice as much as was deposited in the money market in December. At the same time, the price of the UNI token saw a 300% surge in less than 20 days starting on Jan. 12.

How has Uniswap’s FCAS score changed?

UNI FCAS increased 15-points (1.66%) in the past month, driven by a 136-point (16%) climb in Market Maturity. User Activity also increased 24-points (2.6%), while Developer Behavior dropped 13-points (1.4%) in the same time frame.

Cryptocurrency of The Week: 020221
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What’s Flipside’s Take?

The story starts on Sept. 16, when Uniswap, Ethereum’s favorite decentralized exchange, began the process of decentralizing itself. To do so, the firm behind the token-swap site decided to airdrop 150 million UNI governance tokens to anyone who had even tried to use Uniswap since its inception. So any individual could claim 400 UNI - worth well over $1,000 at the time.

Now Uniswap is also funding hackathons and other developer activity. The first successful governance proposal was executed on Dec. 27, establishing a grants program to invest in the ecosystem’s future. 

The Flipside Crypto Asset Score Tracker provides institutional and sophisticated retail investors the ability to track over 500 cryptocurrencies' fundamentals. FCAS Tracker is currently free to a select group of new users as it continues to develop the product. Visit Flipside here to gain access to Flipside Analytics.