\t\t\t\t\t\t
<\/p>\n
- \n
- Uniswap experienced rising user activity and achieved 300 million swaps on its protocol.<\/em><\/li>\n
- The DAO explored a collaboration with Zero Protocol to enhance its ecosystem.<\/em><\/li>\n<\/ul>\n
Uniswap [UNI]<\/a>, a dominant player in the cryptocurrency exchange sector, witnessed a resurgence in activity of late. Despite facing challenges and a plateau in growth during tough market conditions, Uniswap was now showing signs of renewed vitality.<\/p>\n
\nRealistic or not, here\u2019s UNI\u2019s market cap in BTC\u2019s terms<\/a><\/p>\n
\nActivity spikes<\/h4>\n
According to data from Token Terminal, the daily active users on Uniswap rose on 30 September. Moreover, the Uniswap Protocol achieved a significant milestone by completing over 300 million swaps.<\/p>\n
\n
Uniswap\u2026
active users up \ud83d\udc65\ud83d\udcc8
trading fees down \ud83d\udcb8\ud83d\udcc9 pic.twitter.com\/lX7V3uWNF9<\/a><\/p>\n\u2014 Token Terminal (@tokenterminal) September 30, 2023<\/a><\/p>\n<\/blockquote>\n
These swaps represent transactions on the platform. Notably, the increasing number of swaps indicated a growing interest in decentralized exchanges (DEXes), which also contributed positively to the ecosystem.<\/p>\n
\n
Swap szn in full effect \ud83d\ude0e<\/p>\n
Uniswap Protocol has officially hit 300,000,000 swaps \ud83d\udd25 pic.twitter.com\/6taofceNkJ<\/a><\/p>\n
\u2014 Uniswap Labs \ud83e\udd84 (@Uniswap) September 28, 2023<\/a><\/p>\n<\/blockquote>\n
However, despite the surge in activity, there\u2019s a worrying trend of falling overall fees. This decline in fee revenue can pose challenges for the sustainability and development of Uniswap.<\/p>\n
Governance continues to make progress<\/h4>\n
Despite these challenges, Uniswap\u2019s governance community remained proactive. Recently, the Uniswap DAO made significant decisions to enhance the protocol\u2019s capabilities.<\/p>\n
One notable development was the decision to deploy on the Polygon [MATIC]<\/a> zkEVM (Zero Knowledge Ethereum Virtual Machine). Additionally, a proposal outlined a partnership between the Uniswap DAO and Zero Protocol, focusing on a \u201cfriendly fork\u201d collaboration.<\/p>\n
This collaboration aimed to create a new version of Uniswap on the Polygon zkEVM while maintaining a cooperative relationship with the original protocol.<\/p>\n
It involves integrating Zero Protocol as a friendly fork on the Polygon zkEVM chain, utilizing Uniswap\u2019s established backend infrastructure and receiving support for ecosystem-funded tools.<\/p>\n
As part of the alignment of interests, the DAO will receive a 10% token allocation. At press time, the proposal passed by 99.99% of votes.<\/p>\n
![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Screenshot-2023-10-01-at-3.21.22-PM.png\")
<\/a><\/p>\nSource: Snapshot<\/p>\n<\/div>\n
\nIs your portfolio green? Check out the UNI Profit Calculator<\/a><\/p>\n
\nIn terms of UNI, its price experienced a notable surge in the past week. At the time of writing, the token was trading at $4.54.<\/p>\n
The network growth of UNI also expanded during this period, indicating an increasing interest from new addresses in the token and its associated ecosystem.<\/p>\n
- The DAO explored a collaboration with Zero Protocol to enhance its ecosystem.<\/em><\/li>\n<\/ul>\n
![\"\"](\"https:\/\/statics.ambcrypto.com\/wp-content\/uploads\/2023\/10\/Uniswap-on-Ethereum-UNI-15.27.02-01-Oct-2023.png\")