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 Tradeable pairs Methodology

## 1. Overview

Tradeable pairs measures the number of unique asset pairs available for trading on the decentralized exchange. The number of direct swap routes offered by the project is reflected by this metric. The cumulative number of unique trading pairs is tracked across Uniswap V2, Uniswap V3, and Uniswap V4.

## 2. Data sources

- **Blockchain events**: `PairCreated` and `PoolCreated` events from `Factory` contracts, and `Initialize` events from `PoolManager` contracts, covering Ethereum, Arbitrum, Optimism, Base, and 11 other chains
- **External data**: Asset metadata for symbol and decimal resolution

## 3. Step-by-step calculation

### Component A: Uniswap V2 and Uniswap V3 pair extraction

- **Purpose**: Extraction of newly created trading pairs and pools for Uniswap V2 and Uniswap V3
- **Logic**: `PairCreated` events are parsed from Uniswap V2 `Factory` contracts, and `PoolCreated` events are parsed from Uniswap V3 `Factory` contracts. For Uniswap V3 on Optimism, historical pre-regenesis pool creations are also ingested from seed data. The unique pair or pool address, asset addresses, chain, protocol version, and fee tier are extracted. Asset addresses are joined with asset metadata to retrieve symbols and decimals.
- **Key fields**: `block_timestamp`, `account_address`, `token0_address`, `token1_address`, `chain`, `version`, `fee_tier`

### Component B: Uniswap V4 pool extraction

- **Purpose**: Extraction of newly initialized pools for Uniswap V4
- **Logic**: `Initialize` events are parsed from Uniswap V4 `PoolManager` contracts. The pool identifier, asset addresses, hooks contract address, and transaction hash are extracted. If an asset address matches a null address or native asset placeholder, it is replaced with the wrapped native asset address of the respective chain. Asset addresses are joined with asset metadata to retrieve symbols and decimals.
- **Key fields**: `block_timestamp`, `pool_id`, `token0_address`, `token1_address`, `chain`, `version`, `hooks_address`

### Component C: Cumulative aggregation and zero-filling

- **Purpose**: Calculation of the cumulative count of tradeable pairs over time
- **Logic**: The first appearance of each unique pair or pool address is determined by taking the minimum daily-truncated timestamp. The number of new pairs is aggregated daily by chain and product. Missing dates in the time series are filled with zeros to ensure continuity. A cumulative sum of the daily new pair counts is calculated over time, partitioned by chain and product, to represent the total tradeable pairs available on any given day.
- **Key fields**: `timestamp`, `product_id`, `chain_id`, `tradeable_pairs`

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

Number of unique token pairs available for trading on the exchange.

UniswapUNI

Tradeable pairs

Tradeable pairs

Competitive landscape

Chain breakdown