- UNISWAP logs record 1.2B+ swaps between 2024-2025, maintaining a swap average of over 90m per month.
- The trading volume reached $73 billion over 30 days, indicating strong user engagement on the chain.
- COO Mary Catherine resigns when the SEC closes the case without enforcement action.
The UNISWAP Distributed Exchange Protocol recorded over 1.2 billion swaps in the first seven months of 2024 and 2025, highlighting a significant increase in user activity. The protocol saw 670,717,783 swaps in 2024 and 640,881,736 swaps in 2025, according to figures released by UnisWap Labs.
Number of swaps for the UNISWAP protocol
Last year: 670,717,783
This year: 640,881,736
And we’re just 7 months old, pic.twitter.com/yqlzzsrdy3
-uniswap labs (@ingap) July 16, 2025
Data shared via bar charts records the annual swap count for protocols from 2018 to mid-2025. Activities remained below 100 million swaps per year until 2022. The year showed a shift, with the protocol exceeding the 100 million mark. The spent has continued to be raised in 2023, with swap activities reaching just under 200 million. However, 2024 saw the sharpest increase in the previous year’s total, more than tripled.
Despite only seven months this year, the 2025 figures have already exceeded 640 million swaps. Currently, the protocol averages over 90 million times per month, indicating that total activity could exceed 2024 per year end if current trends apply.
Exchange activities continue to be strong
According to Defillama, UNISWAP has registered more than $73 billion in trading volumes over the past 30 days. This further points to the scale of the protocol and its continued relevance as an automated market maker-based trading platform. The numbers suggest that user engagement remains constant despite wider changes in market volatility and liquidity across the defi sector.
UNISWAP’s long-term swap growth is due to the increased multi-chine support and the increased use of on-chain trading solutions. Increases in activity from 2022 to 2024 indicate a structural increase in decentralized exchange use.
COO resignation four years later
The new performance metrics coincide with the resignation of Mary Katherine Leader from his role as President and Chief Operating Officer at UnisWap Labs. As reported by Bloomberg, Lader has moved into an advisory role before leaving the company for good. She joined Uniswap in 2021, after serving as BlackRock’s managing director, where she led Aladdin’s sustainability.
Back at Uniswap Labs, Lader codified the company’s operations. She managed finance, legal, HR, marketing, policy creation, and the operations of the entire customer support, allowing UNISWAP to be transformed into the right structure. Nevertheless, Uniswap has yet to appoint a new president at Lader’s location.
The Securities and Exchange Commission dismissed the lawsuit against UNISWAP Labs in February 2025. The investigation was triggered by a Wells Notice provided in April 2024 and concluded without enforcement action.
