DEX protocol Uniswap added nearly 58,000 users in July

Uniswap, the leading decentralized exchange (DEX) protocol, has hit a record high for user growth.

According to The Block Research, Uniswap added 57,976 new users in July as compared to 24,963 in June, i.e. growth of 132%. In August thus far, the exchange has added 27,253 unique users.

Uniswap has been adding users at a growing pace since the launch of its new version, dubbed Uniswap V2. The new protocol introduced features like ERC-20 pairs, more manipulation-resilient price oracles and flash swaps, among others.

Uniswap currently leads the DEX volume game, with more than 40% market share as of last month.

Last week, it was revealed that Uniswap raised $11 million in Series A funding in June. The round was led by Andreessen Horowitz, with participation from Union Square Ventures, Parafi Capital and Paradigm, among others.

© 2020 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

DEX protocol Uniswap added nearly 58,000 users in July written by Yogita Khatri @ August 10, 2020 Yogita Khatri

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