Uniswap Q4 Quarterly Report

Hello to the Uniswap community. My name is Jerry, I’m one of your friends from Messari.

This morning, we published our Uniswap Q4 2021 Quarterly Report and would like to share it with you. Our goal with the report was to provide some insight into key metrics for the Uniswap community. Here were some takeaways from the quarter:

  1. Uniswap macro metrics high all-time highs across the board behind an active Q4 market
  2. The new 0.01% fee tier increased trading in the USDC/USDT market, meaning Uniswap did succeed in becoming more competitive with Curve and other stablecoin-efficient DEXs
  3. Capital efficiency is driving trades towards lower fee tiers, including in both the USDC/WETH and WBTC/WETH markets.
  4. V3 launches on Optimism, Polygon, and Arbitrum were successful in adding new trading pairs but size is not yet meaningful compared to Ethereum.

Our team has also created a public Dune Analytics dashboard for your use containing most of the underlying data. We have included Ethereum + Optimism and plan to add Polygon over the coming weeks. (FYI Polygon and Arbitrum data in our report was pulled from The Graph).

As of now, we are also tentatively planning to host a Crowdcast livestream to review the contents of the report with someone from the Uniswap Grants Program and myself. More details to come on this shortly.

In all, our team hopes you find the material – both the quarterly report and Dune dashboard – informative and useful. Please let us know if you have any comments or questions, we’re happy to get any feedback and hear what you all think.