# \[Temp Check\] Forse Analytics for Uniswap Revitalization and Growth Program **URL:** \ **Category:** Temperature Check\ **Created:** [August 7, 2024, 10:40pm UTC](https://gov.uniswap.org/t/temp-check-forse-analytics-for-uniswap-revitalization-and-growth-program/24373 "2024-08-07T22:40:26Z")\ **Posts on this page:** 1\ **Showing post:** 38
**Author:** ![Matt\_StableLab](https://sea2.discourse-cdn.com/flex016/user_avatar/gov.uniswap.org/matt_stablelab/32/9622_2.png) [@Matt\_StableLab](https://gov.uniswap.org/u/Matt_StableLab)\ **Post date:** [February 13, 2025, 2:56pm UTC](https://gov.uniswap.org/t/temp-check-forse-analytics-for-uniswap-revitalization-and-growth-program/24373/38 "2025-02-13T14:56:38Z")
![690x194](https://us1.discourse-cdn.com/flex016/uploads/uniswap1/original/2X/3/3caefa12c9b9035783a4b5fafb6933aecde5f0fc.jpeg) # **Early Insights from the Revitalization & Growth Program** Yesterday, we shared our initial analysis of Uniswap’s incentive program on Base, diving into how it impacted liquidity, volume, and long-term LP retention. The discussion brought valuable feedback from the community, and we’re already exploring ways to integrate it into our ongoing analysis. ## **Key Findings So Far** ### **Incentives Drove TVL, But Retention Remains a Challenge** ![690x386](https://us1.discourse-cdn.com/flex016/uploads/uniswap1/original/2X/4/472d154f35f15c1a6ffca70b1a2c467f92ec47e5.jpeg) During the campaign period, incentivized pools on Base saw an **average daily TVL increase of $6M+** , demonstrating a strong initial response. ![690x386](https://us1.discourse-cdn.com/flex016/uploads/uniswap1/original/2X/b/be3a6fb28f6dfd7867a9c1389e2c1e0200c438e4.jpeg) | Pool name | Change in avg daily volume 90 days after the campaign | | --- | --- | | WETH/USDC 0.05% | -31% | | USDC/USDT 0.01% | -39% | | WETH/USDT 0.05% | -83% | | cbETH/WETH 0.05% | -83% | However, once incentives ended, most pools experienced a sharp LP exodus. The data suggests that post-incentive **volume sustainability is critical for LP retention** , with pools that maintained strong volume (e.g., WETH/USDC) keeping more LPs engaged. ![690x386](https://us1.discourse-cdn.com/flex016/uploads/uniswap1/original/2X/8/82f12bee7878c020176580845da2db1d4acd29ee.jpeg) ### **The Cost of Growth – ROI Metrics** We analyzed how much TVL growth was generated per UNI spent: | Total UNI spent per day | 692 | | --- | --- | | Average UNI price over the incentives period | $9.20 | | Average daily TVL increase per UNI spent | $8,718 | | Average daily TVL increase per USD spent | $948 | | Average daily TVL increase attributed to incentives | $ 6,032,729 | ## **Incentives & Impact on Volume** One key takeaway from our extended analysis is how incentives influenced **Uniswap’s overall volume share** within the Base ecosystem. ![690x386](https://us1.discourse-cdn.com/flex016/uploads/uniswap1/original/2X/8/81ccce4fb372f2bbcdcbe35dfff009cd014ceb76.jpeg) ![690x386](https://us1.discourse-cdn.com/flex016/uploads/uniswap1/original/2X/9/9a81d7706edc3d9cb6b64132e738c1ff71fb5741.jpeg) - **During the incentivization program** , the **total average daily volume for Uniswap was ~$295M/day** , with **incentivized pools accounting for 24%** of this volume. - **Post-incentives** , incentivized pools **retained a higher share of Uniswap’s total volume** than before, despite an overall decline in ecosystem-wide trading activity. This suggests that while incentives temporarily boost trading activity, they also contribute to **some residual stickiness** in Uniswap’s volume share. ### **Where Did LPs Go After the Incentives?** One of the main concerns was whether LPs simply moved to Uniswap’s biggest competitor on Base, Aerodrome. The data suggests a more nuanced picture: - **27.8% of Uniswap’s incentivized LPs** provided liquidity on Aerodrome post-incentives - Of those, **84.5% fully left Uniswap** - However, **most users who left Uniswap (~64.8%) didn’t move to Aerodrome either**, indicating broader retention challenges beyond direct competition This suggests that user attrition is not just about LPs chasing better incentives elsewhere—there are underlying factors affecting retention that need deeper exploration. ## **Community Feedback & Next Steps** We received great feedback during the presentation, including: - **Comparing Uniswap’s incentivized pools to similar pools on other DEXs:** This will help contextualize Uniswap’s performance and assess whether incentives were competitive relative to other platforms. - **Analyzing user order flow vs. algorithmic flow in incentivized pools:** Understanding whether activity was driven by organic LPs or automated strategies will provide valuable insights into how sustainable the liquidity provision was. ### **What’s Coming Next** - **Expanding Analysis to Other Chains:** Now that we are wrapping up our Base analysis, we’re extending our methodology to other chains where Uniswap deployed incentives, as part of our grant scope. - **Deeper Retention & Competitor Comparisons:** - We’ll integrate cross-DEX comparisons to benchmark Uniswap’s effectiveness against similar incentives. - We’ll explore how order flow dynamics influenced the longevity of incentive-driven liquidity. - **Terminal Development Progress:** Wireframes for the **Uniswap Impact Terminal** are in place, ensuring seamless access to insights. Mobile and desktop versions are being finalized. ## **We’d Love Your Input** We’re refining our analysis and want to ensure it delivers the most relevant insights for the Uniswap community. - **Are there additional metrics or trends you’d like us to investigate?** - **Any specific patterns or user behaviors you’d like us to explore?** --- _[View the full topic](https://gov.uniswap.org/t/temp-check-forse-analytics-for-uniswap-revitalization-and-growth-program/24373)._