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Explore, swap and LP tokens on the world’s largest DEX.

We are excited to roll out the most expansive Limit Order offering in DeFi. Users can now place Limit Orders for any token on Ethereum on the Uniswap web app.

Set and Forget Swaps: Introducing Limit Orders on Uniswap

Uniswap users can now bridge across nine networks directly from the Uniswap Interface and Uniswap Wallet.

Permissionless Bridging is Now Live

Today we’re excited to announce that the Uniswap Extension is now available for everyone to download on Chrome.

Uniswap Extension is Now Available for Everyone

Users of the Uniswap mobile app can now buy crypto with a debit card, via bank transfer, or directly from their Robinhood balance using Robinhood Connect.

Buy Crypto Using Robinhood Connect on the Uniswap Mobile App

Product news

Where to find the latest updates on Uniswap Labs products, including the Uniswap Web App and the Uniswap Wallet.

Products

Learn how to get a crypto wallet with our step-by-step beginner’s guide.

How to Get a Crypto Wallet: A Step-by-Step Guide

Learn more about the Uniswap Protocol, an Ethereum based exchange, with our complete guide. Explore more ways to trade crypto on our decentralized protocol.

Uniswap 101: What is Uniswap? | Uniswap Labs

Uniswap Labs’ front-end engineer draws parallels between the Unix philosophy and Web3 applications, which creates interoperable, extensible, and reusable code, allowing us to ship better code faster.

The Unix Philosophy at Uniswap Labs

The Project Mariana experiment uses DeFi and AMMs to create foreign exchange markets for the euro, Singaporean dollar, and Swiss franc.

A DeFi Playground for Foreign Exchange Markets

Company News

 The latest and greatest announcements about the company from Uniswap Labs

Company

New Research Shows Uniswap v3 scales with L2s.

Layer 2 Be or Layer Not 2 Be

Research from Uniswap Labs proposes a new methodology for measuring price improvements across Order Flow Auctions (OFAs).

Measuring Price Improvement with Order Flow Auctions

A new paper from a team of researchers at Uniswap Labs, Circle, and the Copenhagen Business School provides insight into how traditional financial factors impact crypto price movements.

New Research on Drivers of Crypto Asset Prices

Most users swap on Uniswap as one of their first actions onchain.

New Onchain? 80% of Wallets Make Their Way to Uniswap on Day One

Research updates

 Explore the latest research and data from Uniswap Labs.

Research

Uniswap users can now swap and provide liquidity on Zora Network with the Uniswap interface and in the latest version of the Uniswap mobile app.

Zora is Now Live on Uniswap

ZKsync is now available on the Uniswap interface. Users can swap and LP on ZKsync.

ZKsync is Now Live on Uniswap

Uniswap users can now swap and provide liquidity on Blast with the Uniswap interface.

Blast is Now Live on Uniswap

You all love v2 so much, we’re bringing it to you everywhere. Uniswap v2 is live on Arbitrum, Polygon, Optimism, Base, Binance Smart Chain, and Avalanche.

Uniswap v2 Now Live Across More Major Chains

Protocol updates

The latest and greatest announcements about protocols from Uniswap Labs

Protocols

Unichain updates

News, updates and announcements about Unichain, an Ethereum L2 Designed for DeFi.

Unichain

Swapping crypto is a seamless way to trade one asset for another directly, without using an intermediary or getting your fiat involved.

What is a Crypto Swap?

Decentralized finance, or “DeFi,” is a growing network of global, permissionless, peer-to-peer financial apps and protocols that rely on blockchains.

What is DeFi? An Intro to Decentralized Finance

An intro to the Ethereum blockchain network, its key features, the ether token (ETH) and more.

What is Ethereum?

Discover how decentralized exchanges (DEXs) work, the benefits of using one, and how to connect your wallet to a DEX. 

What is a Decentralized Exchange (DEX)?

Basics updates

Start your onchain journey here. Learn how to swap tokens, connect to apps, explore DeFi, and much more.

Basics

Making a crypto swap on a [decentralized exchange](https://blog.uniswap.org/what-is-a-decentralized-exchange) only takes a few clicks. The convenience and reliability of these onchain swaps is made possible, in part, by “liquidity providers” who supply tokens to liquidity pools, which are a cornerstone of [decentralized finance](https://blog.uniswap.org/what-is-defi). These pools enable trading, help balance prices, and can reward providers in return.

Discover how liquidity provisioning (or “LPing”) on [automated market makers](https://blog.uniswap.org/what-is-an-automated-market-maker) works and how to weigh the potential rewards against the risks and responsibilities of managing a liquidity position.
# What is liquidity provisioning?
Liquidity provisioning (or LPing) involves depositing a pair of tokens into a liquidity pool on a decentralized exchange like the Uniswap Protocol. These pools use smart contracts to enable permissionless, onchain trading.

By supplying liquidity, liquidity provisioners (or LPs) help ensure that traders can swap tokens efficiently, with minimal slippage when pool depth is high. In return, LPs earn a share of the trading fees — and in some cases, additional rewards.

Not all onchain activity involves LPs, but without them, the open markets that define DeFi wouldn’t exist.
# How do I become a liquidity provider on Uniswap?
Anyone can LP on Uniswap. There’s no minimum deposit required, and it’s easy to get started with just a pair of tokens. Some users add a little liquidity to learn, while others build more active strategies.

Becoming a liquidity provider starts with choosing a pool and depositing two tokens — like USDC and ETH. The amounts you deposit will be equal in market value. To LP on the Uniswap Protocol, this can be done directly through the [Uniswap Web App](https://app.uniswap.org/positions/?utm_medium=blog&utm_source=blog&utm_campaign=lp-blog&utm_content=uniswap-positions).

Once deposited, the tokens sit in a smart contract and provide liquidity for other users’ swaps. Every time someone trades against the pool, each LP that has contributed to the pool earns a portion of the trading fees, proportional to their share of the total liquidity.

LPs can add, remove, or adjust their position at any time — and they can collect their earned fees whenever they choose.

<Video source="//videos.ctfassets.net/oc3ca6rftwdu/2nZ8rQIUWahPHLJjZ5xdkB/596ae049eebfd43f6d8f29f81f9d28e9/LP_on_Uniswap_Protocol.mp4" description="Choosing an LP position" />

# Evaluating LP rewards and mitigating risks

Providing liquidity comes with tradeoffs, and understanding them can help you make smarter decisions if you choose to LP.

**1. Impermanent loss.** When the price of one token in your pair changes relative to the other, your position may be worth less than if you had simply held both tokens. Fees can help offset this, but not always. This loss, however, only becomes permanent if you withdraw your liquidity while prices are still out of balance.

**2. Market volatility.** Sharp price swings can increase the likelihood and impact of impermanent loss — which can be more common in volatile or uncorrelated pairs. 

**3. Fee variability.** LPs earn a portion of trading fees, but earnings depend on how much trading occurs — and whether your position is active within the pool’s price range.

**4. Price range exposure.** On Uniswap v3 and v4, you only earn LP rewards when the market price stays within your selected range. If the price moves out of range, your position may stop earning fees until you adjust it. In an earlier version of the Uniswap Protocol, v2, liquidity is always active across all price levels, and custom ranges are not available.
# More considerations for participation in onchain markets

With the right approach, LPing becomes a strategic way to participate in onchain markets. A few more considerations:

- **Choose token pairs you understand.** Get familiar with each token’s market dynamics — like what drives its price, how volatile it tends to be, and how it's used onchain.
- **Look for pools with steady trading and tokens that tend to move together in price.** These pairs — for example, many stable-stable pairs — often earn more consistent fees and are less likely to experience large impermanent losses.
- **Use platforms that offer control, transparency, and secure pools.** The [Uniswap Web App](https://app.uniswap.org/positions/?utm_medium=blog&utm_source=blog&utm_campaign=lp-blog&utm_content=uniswap-positions) lets you track performance, adjust your range, collect fees, and exit your position at any time.
- **Adjust your position based on how you think the market will move.** Tighter ranges concentrate your capital and can earn more fees — but they stop earning if the price moves out of range. [Learn how concentrated liquidity works →](https://docs.uniswap.org/concepts/protocol/concentrated-liquidity)

With a thoughtful setup and a bit of maintenance, LPing can be a practical way to participate in DeFi markets — and earn along the way. As with trading or any other DeFi activity, take time to understand what you’re participating in and do your own research.

# Explore pools on the Uniswap Protocol

Anyone with a pair of tokens can provide liquidity.

The Uniswap Protocol is entirely permissionless and open to all. With the [Uniswap Web App](https://app.uniswap.org/positions/?utm_medium=blog&utm_source=blog&utm_campaign=lp-blog&utm_content=uniswap-positions), you can start LPing in minutes, monitor your positions, and adjust or withdraw liquidity whenever you like.
## Frequently asked questions
<details>
 <summary>What are LP rewards in DeFi?</summary>
 LP rewards are earned by users who supply token pairs to liquidity pools on decentralized exchanges. These rewards typically come from trading fees.
</details>

<details>
 <summary>How do I become a liquidity provider?</summary>
 You can become an LP by choosing a pool and depositing two tokens of equal market value. This can be done directly through the <a href="https://app.uniswap.org/positions/?utm_medium=blog&utm_source=blog&utm_campaign=lp-blog&utm_content=uniswap-positions">Uniswap Web App</a>.
</details>

<details>
 <summary>Do LPs earn rewards all the time?</summary>
 In Uniswap v3 and v4, LPs only earn rewards when the market price stays within their selected range. In v2, liquidity is active across all price levels by default.
</details>

<details>
 <summary>What risks come with providing liquidity?</summary>
 Risks include impermanent loss, market volatility, and fee variability. If the price moves out of your selected range in v3 or v4, your position may stop earning fees until you adjust it.
</details>

Liquidity pools are the backbone of DeFi. Here’s what to know before you provide liquidity (LP) onchain.

Understanding Liquidity Provision in DeFi

If you’ve recently begun to explore and use DeFi apps, you may be surprised to see a “gas fee” added to the cost of your onchain transactions. Don’t worry, these fees are normal. 

Gas fees are set and collected by the blockchains that decentralized exchanges, NFT marketplaces, and other apps rely on to run properly — kind of like how payment networks collect fees on credit card transactions. And while they’re collected automatically when your transaction is submitted, there are a few helpful things to know about gas fees to avoid surprises or confusion. 

# Why are gas fees collected on every Ethereum transaction?
The gas fees you pay on your transactions help keep decentralized blockchains like Ethereum secure and working properly. 

Blockchains with high usage require a lot of computing power, plus the hardware used to run the network, and both of these come at a cost. Ethereum processes more than [one million daily transactions](https://etherscan.io/chart/tx) — so you can imagine the total costs required to keep things running smoothly. 

By charging a gas fee on every transaction, Ethereum can cover all of the expenses that come along with processing these transactions. 

## Who receives Ethereum gas fees?
The Ethereum blockchain is able to be decentralized thanks to a network of computers run by “validators” that work in harmony to submit blocks of transactions with no interruptions. 

Ethereum distributes gas fees as an incentive to validators, which motivates them to continue operating the network and keep it secure. 

__Reminder__: Gas fees are not collected by the app or wallet you’re using for your transaction — this is done by the blockchain that your app is deployed on.

# How are gas fees calculated?
Ethereum calculates gas fees using a [specific formula](https://ethereum.org/en/developers/docs/gas/). The formula ensures that fees are dynamic, meaning that they’re calculated fairly based on three factors: 

- The complexity of your intended transaction 
- The current demand on the blockchain network
- The speed that you want your transaction executed 

In other words, if your transaction is complex, submitted when network usage is high, and/or you want a network validator to prioritize it, you may need to pay a higher gas fee. As a result, your gas fees will differ from transaction to transaction. 

By default, your wallet uses this formula to run the numbers for you and provide an estimated gas fee for your transaction.
![Gas Fee on Uniswap Web App](//images.ctfassets.net/oc3ca6rftwdu/1f9Txb1o0R2pruLb5nizCr/b3d10c9807aec8e2d9e39d4fd7086f24/Gas_Fee_on_Uniswap_Web_App.gif)
*This demo shows how gas fees are displayed in the Uniswap web app.*
# How are gas fees paid?
Gas fees are paid in the form of a blockchain’s native token, and in Ethereum’s case that token is ETH.

Your gas fee won’t be paid unless you confirm your transaction. After confirming, the amount of ETH required to cover your gas fee will be automatically deducted from your ETH balance. 

If you don’t have enough ETH to pay the gas fee, the transaction won’t go through. If that happens, you can transfer funds from another wallet. 

Some crypto wallets, like [Uniswap wallet](https://wallet.uniswap.org/?utm_medium=blog&utm_source=blog&utm_campaign=eth-gas-fees&utm_content=uniswap-wallet), also offer fiat-to-crypto onramps so you can easily purchase the network's native token with a debit card or bank account. 
# Is there a way to limit or reduce gas fees?
High gas fees during heavy network usage times can be frustrating. Instead of paying a high gas fee, you can always:
1. __Choose another time.__ When gas fees are high, consider delaying your transaction until the network is less congested.
2. __Adjust your gas limit.__ Some apps and wallets allow users to adjust the gas fees they’re willing to pay. (But note that if you set your gas fee too low, your transaction may not go through.)
3. __Use a Layer 2 chain.__ An integral part of Ethereum’s scaling roadmap are Layer 2 networks like Unichain, Base, and Arbitrum, which are designed to execute transactions faster and at lower cost than Ethereum’s mainnet.

You can use several tools to check [current gas fees](https://etherscan.io/gastracker) and whether they are considered high at any given moment. 
# Don’t let gas fees slow you down
Gas fees keep the Ethereum network moving, so that your onchain activity is secure and seamless — whether you’re swapping tokens, minting NFTs and other collectibles, or exploring more advanced decentralized apps. 

__Need some ETH? Here are two easy ways to fill up your crypto wallet.__ First, [buy some ETH](https://blog.uniswap.org/web-fiat-on-ramp) using local currency with Uniswap Labs’ fiat onramp feature — available in the Uniswap web app or the Uniswap wallet app on mobile. Or [make a transfer](https://blog.uniswap.org/transfer-crypto-to-self-custody-wallet) from a centralized exchange like Coinbase or Robinhood. 

__Already have an ETH balance? It’s full speed ahead from here.__ Explore charts on Ethereum and more than dozen Ethereum-compatible Layer 2 networks, select a token, and make your very first swap. Connect your wallet to the [Uniswap web app](https://app.uniswap.org/?utm_medium=blog&utm_source=blog&utm_campaign=eth-gas-fees&utm_content=uniswap-web-app) and start swapping.

Ethereum and other blockchains collect network costs or “gas fees” on transactions. How much you’ll pay depends on several factors. 

A Guide to Ethereum Gas Fees

Stablecoins are a dependable way to hold, move, and use value onchain. While many cryptocurrencies fluctuate in value, stablecoins are designed to have a stable price. This key feature has helped make stablecoins one of the most versatile and widely used assets in crypto today. 

Whether you're swapping tokens, sending funds across wallets, or exploring new networks, stablecoins play a key role in onchain markets. 
# What is a stablecoin and how does it work?
A stablecoin is a digital asset that is “pegged” to another asset, meaning that it closely follows that asset’s market value. Stablecoins are commonly pegged to currencies like the US dollar or commodities like gold. 

Popular stablecoins like USDC, USDT, and DAI are all designed to match the value of the US dollar, but they keep that peg in different ways. USDC is backed by dollars held in reserve by its issuer, while DAI is backed by a reserve of crypto assets (worth more than the amount of DAI in circulation) to help keep its value stable. 

For most users, these differences don’t affect how stablecoins are used day to day. Stablecoins can be used in blockchain transactions just like more well-known assets such as ETH or BTC. 
# Popular uses for stablecoins
Stablecoins have been called crypto’s [“killer use case,”](https://experts.bitwiseinvestments.com/cio-memos/could-stablecoins-put-an-end-to-money-market-accounts) but do you wonder what stablecoins are actually used for? They show up in more places than you might think.

1. __Onramps and offramps.__ Stablecoins often serve as the first or last stop when converting between fiat currencies (like the US dollar) and crypto. Many [onramps](https://blog.uniswap.org/web-fiat-on-ramp) and [offramps](https://blog.uniswap.org/fiat-offramping) support stablecoins like USDC because they’re so widely used onchain.

2. __Minimizing exposure to crypto volatility.__ When markets move fast, stablecoins offer a place to maintain stability. Traders and users often swap into stablecoins to take profits, reduce risk and exit positions during volatile markets.

3. __Cross-border remittances.__ Sending stablecoins to family abroad can be significantly cheaper than the global average cost of [6.62%](https://remittanceprices.worldbank.org/sites/default/files/rpw_main_report_and_annex_q324.pdf) to send remittances, typically done via banks, post offices, mobile operators and money transfer organizations.

4. __Avoiding forex fees.__ Traditional currency exchanges often charge [1-3% in commissions](https://www.bankrate.com/personal-finance/fees-associated-with-money-exchange/#common), sometimes more. Stablecoins offer a simpler option. By sending and spending a USD-pegged asset directly, users can skip conversion fees and keep more of their money.

5. __Hedging against inflation.__ Citizens of nations with [highly inflationary fiat currencies](https://sites.lsa.umich.edu/mje/2025/01/08/peso-preservation-argentinas-embrace-of-stablecoins-for-economic-stability/) may prefer to hold US dollar-pegged stablecoins instead of the local currencies, for a more secure store of value.

6. __Everyday spending.__ Cryptocurrencies like stablecoins are increasingly being accepted by more mainstream merchants — from movie theaters to hotels and online retailers — making it easier to use crypto in day-to-day life. Payments giants [Visa](https://usa.visa.com/about-visa/newsroom/press-releases.releaseId.21371.html) and [Mastercard](https://www.mastercard.com/news/press/2025/april/mastercard-unveils-end-to-end-capabilities-to-power-stablecoin-transactions-from-wallets-to-checkouts/) both announced support for stablecoin transactions, unlocking stablecoin payments at over 150 million merchants. 

7. __And even employee payments!__ Stablecoins are steadily becoming a fast, cost-effective alternative to traditional ways of paying salaries or earnings. And because stablecoins payments are borderless, doing so can broaden an employer’s access to the [global talent pool](https://blockworks.co/news/crypto-increasingly-used-to-pay-salaries-in-developing-economies). 

With a variety of exciting use cases, stablecoin adoption keeps growing. In 2024 alone, stablecoins moved more than [$5.5 trillion](https://visaonchainanalytics.com/transactions) in adjusted volume across 1.2 billion transactions — equivalent to 42% of Visa’s [2024 payments volume](https://annualreport.visa.com/financials/default.aspx). 

As more of the world moves onchain, stablecoins will increasingly play a central role in  reshaping how people move, hold, and use money.
# Get started with stablecoins
Widely used stablecoins like USDC, USDT, and DAI are simple to move across networks and make it easy to explore and interact with DeFi. With the Uniswap Web App or Uniswap Wallet, acquiring and using stablecoins is a seamless process.

Swap on the [Uniswap Web App](https://app.uniswap.org/?utm_medium=blog&utm_source=blog&utm_campaign=stablecoin-blog&utm_content=uniswap-web-app) or get started in the [Uniswap Wallet](https://wallet.uniswap.org/?utm_medium=blog&utm_source=blog&utm_campaign=stablecoin-blog&utm_content=uniswap-wallet) with just a few clicks.

Stablecoins are a type of crypto asset that is designed to be price-stable. Learn about ways they’re used, what’s behind their popularity, and how to buy, sell or swap stablecoins.

What are Stablecoins?

We’re excited to announce Uniswap Web and Wallet have integrated Blockaid’s token validation to provide token warnings and labels for Uniswap users.

New Token Warnings and Labels on Uniswap Web and Wallet 

We’re excited to announce our collaboration with Fireblocks, which will enable asset managers, hedge funds, and other financial firms to access Uniswap Protocol’s deep liquidity and competitive pricing directly from the Fireblocks platform.

Uniswap Labs and Fireblocks Collaborate To Bring DeFi to More Institutions

Uniswap users can now purchase crypto using their Venmo balance, thanks to MoonPay’s latest integration.

Buy Crypto Using Venmo on Uniswap Web and Wallet

Uniswap Labs is making it simple to transfer crypto from centralized exchanges to the Uniswap self-custody wallet.

More Options to Go Direct to DeFi: Transfer from CEX

We are excited to begin rolling out the Uniswap Extension to users on the waitlist.

Access the Uniswap Extension Beta

Today we’re excited to announce three new releases to help users swap smarter: the Uniswap Extension, Limit Orders, and Data & Insights.

All New Uniswap Extension and More Tools for Users to Swap Smarter

The Uniswap web app has a brand new Explore tab – with updated Token Detail Pages and all new Pool Detail Pages.

Discover, Research, Swap: Uniswap’s All New Explore Tab

#Where to find the latest updates on Uniswap Labs products, including the Uniswap Web App and the Uniswap Wallet. - Page 2

#Products