UniswapX Launches: Enjoy No-Gas Swaps with Enhanced Liquidity

• UniswapX offers no-gas swaps with aggregated liquidity from both on-chain and off-chain sources, enhancing the user experience.
• Uniswap records its highest annual unique token swaps, reaching 725,000 in 2024, reflecting its growing market influence.

Uniswap Labs has launched UniswapX on their mobile app, marking a big step forward in the decentralized finance (DeFi) space. This new functionality enables customers to get aggregated liquidity from both on-chain and off-chain sources using their mobile devices.

The advent of UniswapX is intended to provide better rates and remove gas fees for consumers, making it a particularly appealing choice for individuals involved in crypto swaps.

UniswapX is live on the mobile app

Access aggregated liquidity across onchain and offchain sources right from your phone

Better quotes. No-gas swaps. pic.twitter.com/fmFUuQ32uG

— Uniswap Labs (@Uniswap) August 14, 2024

Dynamic Liquidity Sourcing and MEV Protection with UniswapX 

With UniswapX, a network of fillers competes to carry out your swap, providing a distinct edge in the DeFi sector. These fillers can obtain liquidity from a variety of sources, including outside of the typical Uniswap Protocol.

The concept is simple yet effective: if UniswapX fillers offer the best price, your swap will be carried out through UniswapX. If Uniswap v2 or v3 provides a better rate, the transaction will go through the Uniswap Protocol. This technique ensures that users always receive the best terms for their trades.

One of the most notable characteristics of UniswapX is its protection against Miner Extractable Value (MEV), as well as the lack of gas fees and failed transaction expenses.

This increased level of security and efficiency is intended to dramatically improve the user experience. Furthermore, for those who haven’t already downloaded it, the Uniswap mobile app provides fast access to these advanced trading capabilities.

On the other hand, as we previously reported, Uniswap is actively looking into ways to improve cross-chain interoperability, particularly with the integration of ERC-7683. This move is part of a larger strategy to boost Uniswap’s position in the rapidly changing crypto space.

Cross-chain interoperability is becoming increasingly important in the DeFi ecosystem, and Uniswap’s efforts in this area are likely to result in significant benefits for both users and the platform.

According to Dune Analytics data from mid-July, Uniswap had the most unique tokens swapped in a year, with an astonishing 725,000 in 2024.

This is a huge increase over previous years, with 209,000 unique tokens swapped in 2023, 75,000 in 2022, and 41,000 in 2021. These numbers demonstrate Uniswap’s rising significance and the increasing variety of assets traded on the platform.

Meanwhile, UNI, Uniswap’s native token, is presently trading at $6.43, up 2.21% over the past 24 hours. The daily trading volume is roughly $95.313 million, indicating considerable market interest in UNI.