May '24 Uniswap Report

Hello Uniswap Community,

We published our most recent issue of the Uniswap Monthly Report, summarizing protocol metrics for May 2024.

You can find our latest report at and subscribe for future monthly releases.

Here’s the executive summary:

  • In May 2024, the Uniswap Protocol processed $73.96 billion in monthly volume (-4.54%) across $7.19 billion in liquidity (+14.8%), earning market makers $120.82 million in fees (-3.6%).

  • Across all chains, Ethereum saw the most Uniswap volume with $34.31 billion in v3 pools, seconded by Arbitrum. Linea had the highest month-over-month growth in volume and fees.

  • This month, the protocol experienced a relative increase in volume (+7.6%), liquidity (+3.1%), and fees (+6.2%) over competing DEX protocols.

  • Layer 2 deployments’ share of volume and fees fell to 30.0% and 17.8% respectively. However, the deployments reached an all-time high in liquidity share, at 14.8%.

The report contains charts and tables displaying the data and exact figures. We’re eager to continue aggregating this data and sharing our findings.

*Data was sourced primarily from the Oku API, with help from DeFiLlama and TradingView.