Is Uniswap attracting new users? How many transactions are they doing? Using the last twelve months of Ethereum data, visualize the number of monthly new users onboarding to Uniswap.
New users are addresses that have never used Uniswap before. Onboarding to Uniswap means making any type of transaction on the protocol.
What is UniSwap?
Uniswap is a decentralized exchange protocol built on the Ethereum blockchain. It enables users to trade cryptocurrencies directly from their digital wallets without the need for intermediaries like centralized exchanges. Uniswap operates on the concept of automated liquidity provision, allowing users to trade ERC-20 tokens directly from one another by utilizing liquidity pools.
Uniswap uses an automated market maker (AMM) model, where liquidity is provided by users who deposit an equal value of two different tokens into a liquidity pool. These liquidity pools facilitate trading by utilizing smart contracts to automatically execute trades based on predefined mathematical formulas.
One of the key features of Uniswap is its simplicity and accessibility. Anyone can create or add liquidity to a Uniswap pool, and users can trade tokens directly from their wallets by interacting with the Uniswap interface or through various decentralized applications (DApps) built on top of the protocol.
Uniswap has gained significant popularity and has played a crucial role in the decentralized finance (DeFi) ecosystem, providing a decentralized and permissionless platform for users to trade tokens and participate in liquidity provision.
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