For me, I firmly believe in $UNI —it’s a bet on its technical iteration.
In 2018, Uniswap V1 introduced an automated market maker (AMM) protocol. This was the first successfully deployed AMM protocol on Ethereum.
In 2020, Uniswap V2 launched a liquidity mining mechanism. It was the first to support direct trading between tokens, whereas V1 only supported trading between tokens and ETH. It also provided governance token incentives to LPs to supply liquidity, which offered major inspiration for $AAVE and $COMP later on.
In 2021, Uniswap V3 introduced concentrated liquidity. This is the most influential innovation in the DEX space: it allows LPs to concentrate funds within custom price ranges, improving capital efficiency by up to 4,000x. Nearly all subsequent DEXs—such as PancakeSwap V3, Aerodrome, and Hyperliquid—have imitated it.
In 2025, Uniswap V4 made a strong debut, continuing to explore industry-first technologies. The single-instance architecture reduces gas costs by 99%. Hooks helped drive the popularity of dynamic fee rates and on-chain limit orders.
We can see that truly valuable protocols will keep leading the industry’s development. Truly trustworthy teams will keep pushing beyond their limits and attempt things that others can’t.
Silicon Valley really is a place for disruptive companies—and Uniswap’s headquarters is right there in Silicon Valley.
In 2018, Uniswap V1 introduced an automated market maker (AMM) protocol. This was the first successfully deployed AMM protocol on Ethereum.
In 2020, Uniswap V2 launched a liquidity mining mechanism. It was the first to support direct trading between tokens, whereas V1 only supported trading between tokens and ETH. It also provided governance token incentives to LPs to supply liquidity, which offered major inspiration for $AAVE and $COMP later on.
In 2021, Uniswap V3 introduced concentrated liquidity. This is the most influential innovation in the DEX space: it allows LPs to concentrate funds within custom price ranges, improving capital efficiency by up to 4,000x. Nearly all subsequent DEXs—such as PancakeSwap V3, Aerodrome, and Hyperliquid—have imitated it.
In 2025, Uniswap V4 made a strong debut, continuing to explore industry-first technologies. The single-instance architecture reduces gas costs by 99%. Hooks helped drive the popularity of dynamic fee rates and on-chain limit orders.
We can see that truly valuable protocols will keep leading the industry’s development. Truly trustworthy teams will keep pushing beyond their limits and attempt things that others can’t.
Silicon Valley really is a place for disruptive companies—and Uniswap’s headquarters is right there in Silicon Valley.