Decentralized-Finance broke one record after another this year. Now the decentralized exchange (DEX) Uniswap has reached another milestone for this year and has exceeded a total trading volume of 50 billion US dollars.
Hayden Adams, the mastermind behind Uniswap (UNI), is happy to announce that the new milestone has been reached on Twitter
There are over 26,000 trading pairs on Uniswap, with an average turnover of almost two million US dollars. In addition, the largest DEX in the world is one of the main applications of the Ethereum blockchain. Over the past 24 hours, the decentralized exchange is responsible for 22.18 percent of the total ETH fees used for Ethereum transactions.
According to Etherscan , users have within the last 24 hours Paid over $ 700,000 in ETH to use Uniswap.
V3 update: soon more records at Uniswap?
The Uniswap community is looking forward to the DEX V3 update full of hope. Although the code of the long-awaited update appeared on Github at the end of September, there is no exact release date yet.
The upgrade brings a number of new functions to the platform. Among other things, this is intended to reduce trading fees and introduce Optimistic Rollups. In this way Uniswap wants to scale and be even more user-friendly for the broad mass of investors. If everything goes according to plan, the update should start in the first quarter of 2021.