尽管担心 9 月份增速放缓，Uniswap 仍扩大其在 L2 链上的业务

由于需要更优惠的费用，过去 12 个月标志着向 L2 的转变。 Uniswap V3 在过去 12 个月中增加了在 L2 链上的影响力。

Uniswap (UNI) continues to expand its presence on Layer 2 (L2) chains, despite concerns over a slowdown in activity during September. The past 12 months were marked by a mass exodus to L2 due to the demand for lower fees.

尽管人们担心 9 月份的活动放缓，但 Uniswap (UNI) 仍在继续扩大其在第 2 层 (L2) 链上的业务。过去 12 个月，由于要求降低费用，大量人员涌向 L2。

Uniswap V3, in particular, has seen a significant increase in activity on L2 chains over the past 12 months. For September, the leading decentralized exchange (DEX) boasted triple the volumes compared to the same month last year.

尤其是 Uniswap V3，过去 12 个月里 L2 链上的活动显着增加。 9 月份，领先的去中心化交易所 (DEX) 的交易量是去年同月的三倍。

Uniswap facilitated a total of $11.68 billion in swaps, compared to $4.29 billion for September 2023. During that time, Uniswap also expanded its presence to a total of 23 chains.

Uniswap 促成了总计 116.8 亿美元的互换交易，而 2023 年 9 月为 42.9 亿美元。在此期间，Uniswap 还将其业务扩展到总共 23 条链。

However, the dominant chains continue to be Base and Arbitrum, owing to their low fees and aggressive marketing. Soon after its launch, Base began siphoning liquidity pools for Ethereum, largely due to the creation of meme tokens.

然而，由于其低廉的费用和积极的营销，占主导地位的连锁店仍然是 Base 和 Arbitrum。推出后不久，Base 就开始吸纳以太坊的流动性池，这主要是由于 meme 代币的创建。

As a result of the lively DEX activity, Uniswap generated a total of $43.28 million in monthly fees. While Uniswap did experience a slowdown in September, the past few months were the most successful in the history of the DEX.

由于活跃的 DEX 活动，Uniswap 每月总共产生了 4328 万美元的费用。虽然 Uniswap 在 9 月份确实经历了放缓，但过去几个月是 DEX 历史上最成功的几个月。

The rapid influx of users on Base also propelled Uniswap to become the leading exchange for meme token swaps. Over the past year, Uniswap also expanded on the Celo protocol. Celo is still an L1 but may transform into an L2 to better align with the culture of Ethereum (ETH).

Base 用户的迅速涌入也推动 Uniswap 成为 meme 代币交换的领先交易所。在过去的一年里，Uniswap 还扩展了 Celo 协议。 Celo 仍然是 L1，但可能会转变为 L2，以更好地符合以太坊 (ETH) 的文化。

Uniswap’s growth on L2 comes as no surprise, considering it has increased by more than 20X since 2021. For 2024, Uniswap will have to break its own record of $192 billion in annual trades.

Uniswap 在 L2 上的增长并不令人意外，因为它自 2021 年以来已增长了 20 倍以上。到 2024 年，Uniswap 必须打破自己 1920 亿美元的年度交易记录。

At the same time, Ethereum still remains the layer that still carries $3.72 billion in value locked, due to legacy pools and pairs. Ethereum is still the biggest source of stablecoins, despite the inflows of USDT into Arbitrum and other L2.

与此同时，由于遗留池和货币对，以太坊仍然是锁定价值 37.2 亿美元的层。尽管 USDT 流入 Arbitrum 和其他 L2，但以太坊仍然是稳定币的最大来源。

Arbitrum leads in volumes, but Base has the most pools

Arbitrum 在数量上领先，但 Base 拥有最多的矿池

Uniswap’s success hinges on carrying both large-scale volumes and multiple small pools. Arbitrum is the leader in terms of volumes, with more than $211 million in daily activity.

Uniswap 的成功取决于同时拥有大规模的交易量和多个小型矿池。 Arbitrum 在交易量方面处于领先地位，每日活动超过 2.11 亿美元。

On Arbitrum, Uniswap V3 carries 251 coins in 485 pairs. The same version on Base reflects much more active token minting, with 338 coins and tokens in 694 total pairs.

在 Arbitrum 上，Uniswap V3 包含 485 对 251 个代币。 Base 上的同一版本反映了更活跃的代币铸造，总共有 338 个硬币和 694 个代币对。

One of the biggest problems for Base is the presence of low-liquidity pairs. A few dozen addresses on Base have indeed boosted traffic, but mostly through low-quality rug pulls.

Base 面临的最大问题之一是低流动性货币对的存在。 Base 上的几十个地址确实增加了流量，但主要是通过低质量的地毯拉动。

The last few months saw the creation of multiple pools, most now inactive. While expansion on Base is seen as a positive for Uniswap, the presence of unverified tokens and just-launched pools is skewing the real trading picture.

过去几个月创建了多个池，但大多数现在处于非活动状态。虽然 Base 的扩张被视为对 Uniswap 有利，但未经验证的代币和刚刚推出的矿池的存在正在扭曲真实的交易状况。

Uniswap competes with Aerodrome in terms of value locked. Aerodrome aims for high liquidity pairs, while Uniswap offers a wider selection of tokens. As of September 25, Uniswap locks $215 million in value in its Base version and is the second most active app.

Uniswap 在锁定价值方面与 Aerodrome 竞争。 Aerodrome 的目标是高流动性货币对，而 Uniswap 则提供更广泛的代币选择。截至 9 月 25 日，Uniswap 在其 Base 版本中锁定了 2.15 亿美元的价值，是第二活跃的应用程序。

On Arbitrum, the Uniswap V3 pools contain $291.99 million in all liquidity pairs. Uniswap is the biggest DEX on the L2 chain, outcompeted only by GMX perpetuals and Aave’s lending pools.

在 Arbitrum 上，Uniswap V3 池的所有流动性对中包含 2.9199 亿美元。 Uniswap 是 L2 链上最大的 DEX，仅次于 GMX 永续合约和 Aave 的贷款池。

Uniswap is still the top Ethereum gas burner

Uniswap 仍然是顶级以太坊 Gas Burner

Despite the shift to L2, Uniswap still relies heavily on Ethereum. The Uniswap routing service is the most used L1 smart contract. Fees on Uniswap reached about $45K per hour, or $896K in the past 24 hours.

尽管转向了 L2，Uniswap 仍然严重依赖以太坊。 Uniswap 路由服务是最常用的 L1 智能合约。 Uniswap 的费用达到每小时 4.5 万美元左右，即过去 24 小时内达到 89.6 万美元。

Ethereum itself carries 37.7% of all DEX volumes, for both major and niche markets. WETH is still the most influential asset for pairings, along with USDT and USDC. The presence of bridged or native stablecoins on L2 further boosted decentralized volumes in 2024.

以太坊本身占据了主要市场和利基市场所有 DEX 交易量的 37.7%。 WETH 仍然是配对中最有影响力的资产，另外还有 USDT 和 USDC。 L2 上桥接或原生稳定币的存在进一步增加了 2024 年的去中心化交易量。

Uniswap now has to face the competition of other DEX that have also grown in the past year. The leading market still has a 45% share of the entire DEX market. Other hubs like Aerodrome are quickly catching up with a share of 20.6%.

Uniswap 现在必须面对其他在过去一年中也有所增长的 DEX 的竞争。领先市场仍占据整个DEX市场45%的份额。 Aerodrome 等其他枢纽正在迅速追赶，所占份额为 20.6%。

CurveDEX is also building up its volumes, already carrying $1.78 billion in liquidity. DEXs are already adding features for targeted liquidity, a tool that allows minimal slippage in a predetermined price range.

CurveDEX 的交易量也在不断增加，已拥有 17.8 亿美元的流动性。 DEX 已经添加了针对目标流动性的功能，这是一种可以在预定价格范围内实现最小滑点的工具。

As Uniswap prepares to launch V4 pools, the UNI token is still in consolidation. UNI traded near its one-month high at $6.84, though still far from the year’s peak at $15.20. UNI still awaits a breakout

由于 Uniswap 准备推出 V4 矿池，UNI 代币仍在整合中。 UNI 交易价格接近一个月高点 6.84 美元，但距离今年高点 15.20 美元还很远。 UNI仍在等待突破