Uniswap has grown in popularity as a prominent decentralised exchange (DEX) and automated market maker since its launch in 2018. Generally, market makers (MM) offer liquidity to the exchanges in which they trade and set “buy” and “sell” bids for every asset. Uniswap is an AMM, or automated market maker protocol, built on Ethereum that streamlines the price matching function.
You can easily swap ERC20 tokens, which refer to any digital assets developed on Ethereum, on Uniswap. Since Ethereum is a prominent platform for releasing crypto tokens, this exchange supports a large variety of cryptocurrencies. Not only this, but the popularity of Uniswap also relies on the many perks that it provides, including no registration, ample liquidity, a user-friendly design, crypto wallet support, and more.
Using Uniswap’s liquidity pools, users can also earn income on their crypto assets. However, despite these advantages, Uniswap lacks in many aspects, which makes it even more crucial to look for certain Uniswap alternatives today.
Where Uniswap falls short?
There are certain reasons why many investors are inclining towards the alternatives to this popular AMM. While Uniswap is renowned for its swap features, collective governance, liquidity pools, easy coin access, and self-custodial structure, the AMM lacks in certain aspects, like:
- There is no way to transfer fiat funds on or off the platform
- Gas costs that might be too expensive at times
- A break from the fee-free aspect
- Technical distinctions can be complex at times
- crypto ad networks for 2022
List of top Uniswap alternatives
There are multiple alternatives to Uniswap that you might prefer switching to this year. Below are some of our best picks.
Injective Protocol strives to provide users with the opportunity to more effectively distribute capital in society by giving them unlimited ability to share diverse views in decentralised financial marketplaces.
With token economics signalling high price potential, Injective Protocol adds long-term benefit to the network. This Decentralised Finance (DeFi) protocol allows for cross-chain derivatives trading across a wide range of financial instruments, including perpetual swaps, spot trading, and futures.
What makes Injective protocol special?
- Participate in cross-chain decentralised derivatives trading with no gas expenses
- Gain access to cross-chain yield generation for a wide range of assets
- Ability to create and trade on any derivative market
1inch Network is at the core of the current DeFi movement, with tens of thousands of users on its network. The platform makes use of smart contract technologies to optimise trades while acquiring liquidity from multiple exchanges.
If you are a non-US resident looking for better crypto exchange rates, have a wallet, and want to access a larger range of cryptocurrencies, 1inch is for you.
What makes 1inch Network special?
- Finds the most competitive exchange rates for you
- Supports a wide range of coins, wallets, and blockchains
- There are no deposit or withdrawal fees
The dYdX derivatives exchange provides an alternative to centralised finance as well as standard cryptocurrency exchanges. The platform’s primary goal is perpetual and margin trading, with a high priority on financial decentralisation.
What makes dYdX special?
- There are no gas expenses while exchanging perpetuals or swapping supported assets
- Earn interest on deposits and take advantage of competitive borrowing rates
Kyber Network is a blockchain-based decentralised exchange (DEX) that combines cryptocurrencies from multiple sources to offer traders the most liquidity and the best pricing while also allowing anybody to deposit cryptocurrency to earn trading fees and maximise capital use.
What makes Kyber Network special?
- Enables cryptocurrency switching at the most affordable price for each protocol transaction.
- It is compatible with different protocols
- Several enterprises, DApps, and wallets have already merged the Kyber platform into their projects or operations.
Being the Meter ecosystem’s first significant DEX, VoltSwap has numerous significant characteristics tailored to retail traders and investors, including lightning-fast and low-cost trades on Meter.
What makes VoltSwap special?
- Provides cross-chain swaps
- Low gas fees
- Excellent user interface
There are many alternative decentralized exchange platforms other than Uniswap at present that offer lucrative benefits with lower or no gas fees and additional benefits.