DEX protocol Uniswap added nearly 58,000 users in July

DEX • August 10, 2020, 12:57PM EDT
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Uniswap, the leading decentralized exchange (DEX) protocol, has hit a record high for user growth.

According to The Block Research, Uniswap added 57,976 new users in July as compared to 24,963 in June, i.e. growth of 132%. In August thus far, the exchange has added 27,253 unique users.

Uniswap has been adding users at a growing pace since the launch of its new version, dubbed Uniswap V2. The new protocol introduced features like ERC-20 pairs, more manipulation-resilient price oracles and flash swaps, among others.

Uniswap currently leads the DEX volume game, with more than 40% market share as of last month.

Last week, it was revealed that Uniswap raised $11 million in Series A funding in June. The round was led by Andreessen Horowitz, with participation from Union Square Ventures, Parafi Capital and Paradigm, among others.

AUTHOR

Yogita Khatri profile picture Yogita Khatri

Yogita Khatri is a senior reporter at The Block and the author of The Funding newsletter. As our longest-serving editorial member, Yogita has been instrumental in breaking numerous stories, exclusives and scoops. With over 3,000 articles to her name, Yogita is The Block's most-published and most-read author of all time. Before joining The Block, Yogita wrote for CoinDesk and The Economic Times. You can reach her at [email protected] or follow her latest updates on X at @Yogita_Khatri5.

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