Uniswap: licences, security, fees and reviews
Decentralized exchange
In short
- Legal entity
- Universal Navigation Inc. d/b/a Uniswap Labs (interface and wallet provider)
- Fees
- Swap fee (v2): 0.30% per swap, of which 0.05% is the protocol fee when enabled (as of 31 October 2026)
- Risks and caveats
- Self-custody: users alone are responsible for their private keys; Uniswap Labs never holds funds.
- Checked
- 31 October 2026
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Key facts
- Type
- Decentralized exchange
- Country of registration
- United States
- Operator
- No operator of the protocol; Universal Navigation Inc. d/b/a Uniswap Labs (Delaware, based in New York) provides the web interface and wallet
- Official site
- uniswap.org
Key facts checked on 31 October 2026 against official sources and regulator registers.
What is Uniswap
Uniswap is a decentralised exchange protocol on Ethereum and other blockchains that uses automated market maker (AMM) liquidity pools instead of an order book. Anyone can swap tokens or provide liquidity. The protocol has four versions (v1 to v4); Uniswap Labs builds the web interface and wallet but says it does not control or operate the protocol.
Good to know
- The protocol and the website are different things: the Uniswap Labs interface is one way to reach the protocol, and Uniswap Labs says it does not operate any version of the protocol. ↗
- Uniswap v2 still exists alongside v3 and v4; the developer docs mark v2 as a previous version. ↗
- Uniswap Labs stopped charging interface fees on 27 December 2025; swap fees paid to liquidity providers and any governance-set protocol fee still apply. ↗
- On all v2 pools a protocol fee is now active: 0.05% of the 0.30% swap fee goes to protocol fee contracts instead of LPs. ↗
- Core contracts cannot be upgraded or paused by anyone, so trades cannot be reversed. ↗
- In September 2024 the CFTC settled charges against Uniswap Labs over leveraged tokens available through its interface, with a $175,000 penalty. ↗
Services
| Parameter | Details |
|---|---|
| Spot trading | Token swaps against AMM liquidity pools. |
| Liquidity provision | Anyone can deposit token pairs into a pool and earn swap fees. |
| Custody / wallet | Non-custodial: users keep their own keys; Uniswap Labs also offers the Uniswap Wallet. |
| Tokenised assets | Tokenised versions of securities are tradable in the Uniswap Web App, Wallet and API (from June 2026). |
Security and audits
- v4 launched after nine independent audits, a security competition and a $15.5 million bug bounty (company statement).
- Core contracts are immutable and cannot be paused.
- Uniswap Labs runs a bug bounty on Cantina for eligible vulnerability disclosures.
Fees
| Parameter | Details |
|---|---|
| Swap fee (v2) | 0.30% per swap, of which 0.05% is the protocol fee when enabled (as of 31 October 2026) |
| Swap fee (v3 / v4) | Set per pool and version; fees go to LPs, with protocol fees where enabled by governance (as of 31 October 2026) |
| Interface fee | None in the Uniswap Labs interface and wallet since 27 December 2025 (as of 31 October 2026) |
| Deposits / withdrawals | No deposits: users trade from their own wallet and pay blockchain network (gas) fees. |
Who can use it
- Verification: No account or KYC for the protocol; the interface requires a non-custodial wallet and users of legal age.
- The protocol is permissionless. The Uniswap Labs terms prohibit using the interface to break U.S. or other applicable laws, including securities and derivatives rules, and to bypass geographic or token transfer restrictions.
History
| Date | Event |
|---|---|
| 18 May 2020 | Uniswap v2 deployed to Ethereum mainnet. |
| 5 May 2021 | Uniswap v3 deployed to Ethereum mainnet, introducing concentrated liquidity. |
| 4 September 2024 | CFTC order settling charges against Uniswap Labs: $175,000 civil penalty and cease-and-desist. |
| 31 January 2025 | Uniswap v4 goes live on Ethereum and other networks, adding hooks. |
| 27 December 2025 | Uniswap Labs stops charging interface fees. |
Risks and caveats
- Self-custody: users alone are responsible for their private keys; Uniswap Labs never holds funds.
- Trades cannot be reversed; large trades relative to pool depth suffer price impact.
- Enforcement on record: CFTC settled order against Uniswap Labs (September 2024) over leveraged tokens via its interface.
About the company
- Legal entity
- Universal Navigation Inc. d/b/a Uniswap Labs (interface and wallet provider)
- Headquarters
- Delaware company based in New York (per CFTC)
- Governing law
- State of New York (interface terms)
Official links
- Website: uniswap.org
- Fees: support.uniswap.org/hc/en-us/articles/20131678274957-What-are-Uniswap-Labs-fees
- Terms of use: support.uniswap.org/hc/en-us/articles/30935100859661-Uniswap-Labs-Terms-of-Service
- Docs: developers.uniswap.org/docs/get-started/concepts/how-uniswap-works
- Blog: blog.uniswap.org
Questions and answers
What is Uniswap v2?
Uniswap v2 is the second version of the Uniswap protocol, deployed on Ethereum on 18 May 2020. Its pools still run alongside v3 and v4 and charge a 0.30% swap fee, of which 0.05% now goes to the protocol fee.
Is Uniswap regulated?
The protocol has no licence or operator. Uniswap Labs, which provides the interface, settled CFTC charges in September 2024 with a $175,000 penalty and a cease-and-desist order.
What are Uniswap's fees?
As of 31 October 2026, swaps pay the pool's fee to liquidity providers (0.30% on v2), plus blockchain gas. Uniswap Labs has charged no interface fee since 27 December 2025.
Does Uniswap hold my funds?
No. Uniswap Labs says its products are non-custodial, and you trade from your own wallet.
Who runs Uniswap?
No one operates the protocol, which is governed onchain. Universal Navigation Inc. (Uniswap Labs), a Delaware company based in New York, builds the web interface and wallet.
Sources
- Uniswap Developers - How Uniswap works
- Uniswap Developers - Uniswap v2 overview
- Uniswap Developers - Protocol fee configuration
- Uniswap Labs - Terms of Service
- Uniswap Labs - What are Uniswap Labs' fees?
- Uniswap blog - Uniswap v2 launch
- Uniswap blog - Uniswap v3 launch
- Uniswap blog - Uniswap v4 is here
- CFTC press release 8961-24
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