Bitcoin
$41,828.10+0.41%
Ethereum
$2,210.40-0.97%
Binance Coin
$224.11-0.14%
XRP
$0.61224813-1.04%
Solana
$60.37-2.20%
Cardano
$0.40054882-0.85%
Dogecoin
$0.08926167+1.71%
Tron
$0.10267238-4.68%
Toncoin
$2.55+8.52%
Chainlink
$15.39-1.18%
Avalanche
$21.89+1.10%
Polygon
$0.79344174-0.90%
PlayIconNav
Crypto Prices CoinDesk Market Index CoinDesk Market Index
Finance

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

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

By Oliver Knight
AccessTimeIconApr 5, 2023 at 8:48 a.m. UTC
Updated May 9, 2023 at 4:11 a.m. UTC
(Remi Moebs/Unsplash)

(Remi Moebs/Unsplash)

10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global hub for everything crypto, blockchain and Web3.Register Now

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)

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.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish group, owner of Bullish, a regulated, institutional digital assets exchange. Bullish group is majority owned by Block.one; both groups 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, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.

Oliver Knight
Oliver Knight

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

Follow @OKnightCrypto on Twitter

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.