Developers Fork Uniswap V3, Protocol Attracts $123M in Total Value Locked

The majority of value is locked on Binance Smart Chain (BSC).

AccessTimeIconApr 5, 2023 at 8:48 a.m. UTC
Updated May 9, 2023 at 4:11 a.m. UTC

Decentralized exchange (DEX) Uniswap has been forked by developers after its Business Source License (BSL) expired on April 1.

The fork, according to DeFiLlama, has already attracted $123 million in total value locked (TVL), with the majority of capital locked on the Binance Smart Chain (BSC)

  • NEAR Launches Multichain Access
    15:12
    NEAR Launches Multichain Access
  • How NEAR Enables Multichain Access From One Account
    00:56
    How NEAR Enables Multichain Access From One Account
  • DeFi Market Rebounds to $50B as Speculators Hunt for Yield
    01:11
    DeFi Market Rebounds to $50B as Speculators Hunt for Yield
  • How Spool Is Aiming to Help Institutions Enter DeFi
    11:05
    How Spool Is Aiming to Help Institutions Enter DeFi
  • Uniswap documentation reveals that as of April 1 the code became open source. This was planned since the upgrade to version 3 in 2021 as the license was only valid for two years.

    Uniswap remains one of the largest decentralized exchanges in the decentralized finance (DeFi) ecosystem, commanding more than $4 billion in TVL across all blockchains.

    Two weeks ago Uniswap expanded its product by going live on the BNB Chain following a unanimous governance vote.

    The Uniswap token (UNI) is currently trading at $6.32 having surged by 6.11% in the past 24 hours, according to CoinDesk data.

    Edited by Parikshit Mishra.

    Disclosure

    Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

    Oliver Knight

    Oliver Knight is a CoinDesk reporter based between London and Lisbon. He does not own any crypto.