The efficiency of UniSwap V3 can be seen in its ability to facilitate nearly as much volume as UniSwap V2 with just a fraction of the total value locked.
Below is a breakdown of UniSwap stats as of May 2021:
The success of Uniswap V3 plus the continued dominance of Uniswap V2 has led to Uniswap increasing its market share to a new 2021 high of 61%
Uniswap V3 is off to a good start and may soon flip UniSwap V2 in volume at the current pace of growth
Uniswap V3 is facilitating nearly as much volume as Uniswap V2 with less than 15% of the total value locked in Uniswap V2
Uniswap V3 is the only automated market maker that turns over its total value locked more than 100% on a daily basis. This is more than 5x UniSwap V2
Uniswap V3 stablecoin pairs are particularly efficient as they are facilitating a similar amount of volume to Curve’s 3Pool with just a fraction of the TVL
To understand the efficiency of Uniswap V3 stablecoin pairs, here is a 24-hr breakdown.
At the time of writing, 24-hr volume for Curve’s 3Pool, which has $1.65 billion on USDC / USDT and DAI / USDC pairs reached $265 million.
On the other hand, UniSwap’s USDC / USDT and DAI / USDC pools, with just $125 million in aggregated TVL, reached $198 million.
From the above, the ratio of 24hr volume to TVL on Curve is 16% while that of UniSwap V3 is 158%.
The growth of UniSwap comes at a time when protocols are releasing upgrades of their own with layer 2 protocols continuing to gain massive traction.
Whether these upgrades resonate with the market, there is no doubt that UniSwap V3 is a resounding success and will continue to grow in the coming months as protocols for managing passive liquidity pools strategies launch and as users get acquainted with V3 parameters.