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Uniswap: score, security record and what it is for

94/100SCORE · ATrusted Grade A, excellent

Uniswap is the reference implementation of the automated market maker and the deepest source of on chain liquidity on Ethereum and most layer 2s. Its v2 and v3 pool contracts are immutable, meaning no admin key exists to drain or alter them, and they have held billions for years without a core exploit. The real hazard is at the token level: anyone can create a pool for anything, so verify a contract address before you swap.

The facts

LIVE SINCE: 2018
TYPE: AMM and aggregator
CHAINS: Ethereum, Base, Arbitrum, Optimism, Polygon, BNB Chain and more
SWAP FEE: 0.05, 0.30 or 1.00 percent depending on the pool tier
AUDITS: Extensively audited across v2, v3 and v4, and the most studied contracts in DeFi.
WHO CAN CHANGE IT: UNI token governance with a timelock. Core v2 and v3 pool contracts are immutable and cannot be upgraded by anyone.

How the score breaks down

security29/30

liquidity25/25

chains14/15

costs12/15

decentralisation14/15

Where it is strong and where it is not

✓ Strengths

Core pool contracts are immutable, so nobody can change them, including Uniswap
Deepest DEX liquidity on Ethereum and most layer 2s
Seven years live holding billions with no exploit of the core contracts
Open source, and the interface can be self hosted

✗ Weaknesses

Gas on Ethereum mainnet can exceed the trade value on small swaps
Anyone can list any token, so the search results include outright scams
The 1 percent tier on exotic pairs is expensive

Exploit history

No exploit of the core contracts on record.

Our read

The safest place to swap on an EVM chain, and it is not close. The core contracts are immutable and have held very large sums for seven years without being exploited. The risk on Uniswap is not Uniswap, it is the token you choose to buy on it.

BEFORE YOU SWAP

Swap keeps failingSlippage, approvals, taxes and thin liquidity. Revoke approvalsEvery swap leaves a permission behind. Clear them. Gas tokensWhy you need the chain's native coin first. Pick a walletYou need self custody before you can use any DEX.

RISK WARNING Crypto assets are highly volatile and largely unregulated. You can lose everything you put in. Nothing on this page is financial, investment or tax advice, and nothing here is a recommendation to buy or sell any asset. Do your own research and never commit money you cannot afford to lose.