DEX protocol Uniswap added nearly 58,000 users in July

DEX • August 10, 2020, 12:57PM EDT
The Block

Uniswap, the leading decentralized exchange (DEX) protocol, has hit a record high for user growth.

According to The Block Research, Uniswap added 57,976 new users in July as compared to 24,963 in June, i.e. growth of 132%. In August thus far, the exchange has added 27,253 unique users.

Uniswap has been adding users at a growing pace since the launch of its new version, dubbed Uniswap V2. The new protocol introduced features like ERC-20 pairs, more manipulation-resilient price oracles and flash swaps, among others.

Uniswap currently leads the DEX volume game, with more than 40% market share as of last month.

Last week, it was revealed that Uniswap raised $11 million in Series A funding in June. The round was led by Andreessen Horowitz, with participation from Union Square Ventures, Parafi Capital and Paradigm, among others.