At a Glance
Uniswap operates its V2 version on the Base network, offering streamlined decentralized trading with broad token support, solid liquidity, and low fees.
| Metric | Details |
|---|---|
| 24h trading volume (Base) | ~$351 million (~3,000 BTC) |
| Supported tokens | ~600 |
| Trading pairs | ~3,680 |
| Swap fee rate | 0.30% (0.25% LPs, 0.05% protocol) |
| Average spread | ~0.63% |
How Uniswap V2 (Base) Works
- Automated liquidity via constant-product AMM (x·y=k)
- Direct ERC-20 swaps without intermediaries
- Pools for stablecoins and wrapped tokens
- No concentrated liquidity, simpler than V3 but less capital-efficient
Feature Highlights
- Cross-chain availability: Base, Optimism, Polygon, Arbitrum, BNB Chain, Avalanche
- Flash swaps – borrow now, repay later for arbitrage
- Permissionless liquidity pools – anyone can launch tokens
- No KYC or custody, full on-chain control
User Experience Overview
- Sleek, simple swap interface for quick trades
- Two-step liquidity provision process
- Low gas fees on L2s like Base
- No leverage or margin – spot swaps only
Trust and Security
- Active since 2020, strong track record
- Audited pool logic, oracles, flash swap code
- Governance via UNI DAO and timelocks
- Some forks exploited on other chains
- Sanction blocks for users from Iran, North Korea, Syria
Strengths vs Weaknesses
| Strengths | Weaknesses |
|---|---|
| Deep liquidity for major pairs on Base | Less efficient than Uniswap V3 |
| Simple, reliable DeFi infrastructure | Ethereum mainnet gas costs remain high |
| Permissionless listings, open access | Smart contract risks with flash swaps/token launches |
Final Thoughts
Uniswap V2 on Base is a robust, straightforward decentralized exchange. With deep liquidity, broad token support, and a trusted brand, it’s excellent for simple swaps and permissionless listings. Still, high gas fees on Ethereum mainnet and V2’s inefficiency versus V3 limit appeal for professional LPs. For casual DeFi users, however, it remains one of the most dependable options.