Cryptocurrency exchange Uniswap recently went through a major change. On April 1, the code of Uniswap Version 3 was made open source, and developers took this opportunity to create a 'fork', or copy, of the protocol. Interestingly, this new 'fork' of Uniswap had managed to attract over $123 million in terms of Total Value Locked (TVL) after only two weeks.

To put that into perspective, Uniswap ended the month of March with a Total Value Locked of $4 billion. That makes the $123 million invested in the 'forked' version of Uniswap a significant development, one that helps to demonstrate the potential of decentralized finance (DeFi) in the cryptocurrency space.

For those unfamiliar, Uniswap is what is known as a decentralized exchange (DEX), meaning that it is a platform for exchanging cryptocurrencies without the need for a centralized third-party. This means that users can easily trade cryptocurrencies without needing to rely on a third-party being involved.

The Binance Smart Chain (BSC) and Uniswap have been closely linked since the end of last month after Uniswap launched on the BNB Chain and received a unanimous governance vote. Then, two weeks ago, the Uniswap token (UNI) was listed on Coinbase Pro and its value has since surged by 6.11% according to CoinDesk data.

The fork of Uniswap is seen as a sign of confidence in the platform. This shows that there is potential for Uniswap to continue developing and improving, even after the code was released through open source. It also strengthens the underlying infrastructure of DeFi, now that the ecosystem has expanded to include Uniswap’s ‘fork’. Altogether, this paints an optimistic picture of the future of cryptocurrency, DeFi, and Uniswap.



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