Uniswap exceed $2 trillion Trading volume after five and a half years of its launch.

Uniswap decentralized exchange has made history by surpassing $2 trillion in trading volume just five and a half years after its launch. 

This significant milestone was achieved on April 5, according to data from Dune Analytics.

Anticipating this record-breaking achievement, the Uniswap team released a statement predicting that the $2 trillion mark would be reached within 24 hours. 

To commemorate this feat, Uniswap Labs announced that they would reward the first person to submit a video clip showcasing the Dune Analytics dashboard with 200 USD Coin (USDC).

Uniswap Announcement on Twitter (X)

Uniswap's dominance in the decentralized exchange (DEX) market is evident, as it holds a 31.5% share of the trading volume, according to DefiLlama data. In comparison, its closest competitor, PancakeSwap, only has a 14.6% market share.

Interestingly, Uniswap's native token, UNI, experienced a slight decline in response to this achievement. Over the past 24 hours, UNI has fallen by 4.5% to a value of $10.73. This decline also affected the cryptocurrency's market capitalization, which now stands at $6.4 billion, as reported by CoinMarketCap.

In February, the Uniswap Foundation unveiled a new incentive strategy for UNI token holders. Under this plan, commissions from protocol transactions will be distributed among active UNI token holders involved in the protocol management process. 

However, the Uniswap Foundation will retain control over critical parameters related to these commissions.