Liquidity providers deposit funds into Uniswap and receive trading fees from traders (supply-side fees).

Uniswap is a non-custodial exchange protocol built on Ethereum. Uniswap was founded by Hayden Adams and launched in 2018.

UNI tokenholders own and govern the protocol. They do not currently take a cut of the total trading fees paid by traders (revenue). Uniswap's investors include Paradigm, a16z, USV, etc.

governance

github

twitter

discord

etherscan

website

Exchanges (DEX)

Uniswap

# Uniswap Trade count Methodology

## 1. Overview

Trade count is defined as the number of trades executed on Uniswap. It is used to measure how frequently users buy or sell assets through the project. This metric is utilized to evaluate user activity, liquidity utilization, and overall trading frequency across Uniswap V2, Uniswap V3, and Uniswap V4. Through the analysis of trade count, transaction velocity and engagement levels are assessed across different deployments and integrated networks.

## 2. Data sources

- **Blockchain events**: `Swap` events from `Pair` contracts (for Uniswap V2), `Swap` events from `Pool` contracts (for Uniswap V3), and `Swap` events from `PoolManager` contracts (for Uniswap V4), joined with native transaction data, covering Ethereum, Arbitrum, Optimism, Base, Polygon, and 10 other chains

## 3. Step-by-step calculation

### Component A: Trade event extraction for Uniswap V2 and Uniswap V3

- **Purpose**: The extraction of swap transactions executed on Uniswap V2 and Uniswap V3 pools.
- **Logic**: `Swap` events are parsed from `Pair` contracts for Uniswap V2 and from `Pool` contracts for Uniswap V3. For each event, the transaction hash, block timestamp, log index, and pool address are extracted.
- **Key fields**: `transaction_hash`, `block_timestamp`, `log_index`, `address`

### Component B: Trade event extraction for Uniswap V4

- **Purpose**: The extraction of swap transactions executed on Uniswap V4 pools.
- **Logic**: `Swap` events are parsed from `PoolManager` contracts. For each event, the transaction hash, block timestamp, log index, and pool identifier are extracted.
- **Key fields**: `transaction_hash`, `block_timestamp`, `log_index`, `address`, `pool_id`

### Component C: Denylist filtering and transaction validation

- **Purpose**: The exclusion of trades from low-liquidity or denylisted pools and the validation of transaction details.
- **Logic**: Extracted trade events are joined with a denylist of trading pair addresses for the exclusion of pools with limited price feed support or low liquidity. Validated trades are then joined with native blockchain transaction tables for the verification of transaction details and the mapping of the transaction sender address.
- **Key fields**: `account_address`, `transaction_hash`, `from_address`

### Component D: Daily aggregation

- **Purpose**: The aggregation of validated trades into daily trade counts.
- **Logic**: The filtered trade dataset is grouped by day, chain, and product version. The total trade count is calculated by counting the distinct transaction hashes within each group. Zero-filling is applied for the maintenance of continuous daily data.
- **Key fields**: `timestamp`, `chain_id`, `product_id`, `transaction_hash`

*This methodology was automatically generated by Token Terminal's methodology analyzer.*

Number of trades executed on a decentralized exchange.

UniswapUNI

Trade count

Trade count

Competitive landscape

Chain breakdown