Uniswap, a renowned decentralized exchange (DEX) and automated market maker (AMM), has made its entrance into the Avalanche C-Chain, signifying a significant advancement for decentralized finance (DeFi) on the Avalanche blockchain. This expansion was realized through a successful governance proposal initiated by Michigan Blockchain, the University of Michigan's blockchain club, aimed at fostering a diverse and robust multi-chain future. The proposal received overwhelming support, with 95% of the on-chain vote in favor of the deployment.

The integration of LayerZero, an interoperability protocol facilitating Avalanche's BTC.b, played a crucial role in making Uniswap's deployment possible. By acting as a communication bridge between Ethereum and Avalanche, LayerZero allows seamless cross-chain asset transfers and governance proposals. Luigi D'Onorio DeMeo, the Head of DeFi and Developer Relations at Ava Labs, expressed excitement about the integration and emphasized that this move will strengthen competition among DEXes on Avalanche, with more liquidity expected to flow to the C-Chain as new Subnets launch. Uniswap's expansion further enriches the DEX options available to users, alongside other pioneering Avalanche-native exchanges like Trader Joe, Dexalot, and DeltaPrime.

Uniswap's success story began in 2018 when it first launched on Ethereum, revolutionizing the market with its innovative AMM model. With over 139 million trades and a trading volume exceeding $1.5 trillion, Uniswap remains a dominant force in the AMM space. The latest iteration, Uniswap V3, introduced concentrated liquidity, granting liquidity providers greater control over their strategies within specific price ranges, potentially leading to higher fees. As Uniswap prepares for version 4 (V4), it aligns with Ethereum's Cancun upgrade, offering users the ability to construct their own features, thereby expanding the platform's capabilities significantly. Notably, V4 introduces a novel smart contract variant called "hooks," enabling developers to create innovative solutions on top of Uniswap's liquidity pools.

CryptoDaily

Uniswap

uniswap Governance

Tab 1:

Comparison between Uniswap and Other DEXs on Avalanche In this tab, we will compare Uniswap with other decentralized exchanges (DEXs) on the Avalanche blockchain, such as GMX and Trader Joe, focusing on both daily and total statistics. The metrics we will consider for comparison include daily and total volume, the number of daily and total traders, average swap size (both daily and total), and several other relevant metrics to provide a comprehensive analysis.

Tab 2:

Comparison between Uniswap on Avalanche and Uniswap on Other Chains In this tab, we will compare Uniswap's performance on Avalanche with its performance on other blockchain networks like Ethereum, Arbitrum, etc. The data will be presented in terms of daily and total statistics, and the metrics we will analyze include daily and total volume, the number of daily and total traders, average swap size (both daily and total), and other essential metrics for meaningful comparisons.

Tab 3:

Uniswap Traders In this tab, we will examine the performance of Uniswap traders on Avalanche compared to their activity on other DEXs. Additionally, we will distinguish between new users on Avalanche and existing ones. The metrics we will assess include swap volume on other DEXs, swap count, average volume per user, and the correlation between swap volume on Uniswap and the arrival month of traders.

Table Used:

To conduct the comparison between Uniswap and other DEXs on Avalanche, we used the "avalanche.core.ez_dex_swaps" table. For the comparison between Uniswap on Avalanche and Uniswap on other blockchain networks, we utilized the "crosschain.core.ez_dex_swaps" table. The data included in the analysis only covers the period after Uniswap's launch date on July 13, 2023, to ensure relevance and accuracy in the assessment.

Twitter

Flipsidecrypto