Last Updated: November 21, 2025
Uniswap
Leading decentralized exchange protocol
Web3
DeFi
Getting Started
Visit app.uniswap.org
Official Uniswap interface (beware of phishing sites)
Connect Wallet
Click "Connect Wallet" > MetaMask, WalletConnect, Coinbase
Supported Networks
Ethereum, Polygon, Optimism, Arbitrum, Celo, BNB Chain
Uniswap V2
Simple AMM (Automated Market Maker); full-range liquidity
Uniswap V3
Concentrated liquidity; capital efficiency; multiple fee tiers
UNI Token
Governance token; vote on protocol upgrades
Swapping Tokens
Swap Tab
Default page for token swaps
Select "From" Token
Click token dropdown > Search or paste contract address
Select "To" Token
Choose destination token
Enter Amount
Type amount in "From" field; "To" auto-calculates
Review Quote
Shows exchange rate, price impact, route, fees
Token Approval
First-time swap requires approval transaction (costs gas)
Swap Button
Click "Swap" > Confirm in wallet
Transaction Fee
Gas fee (network) + 0.05-1% swap fee (liquidity providers)
Wrap/Unwrap ETH
Swap ETH <> WETH (wrapped ETH) at 1:1 ratio
Slippage Settings
Settings Icon
Click gear icon on swap page
Slippage Tolerance
Maximum price change you'll accept (0.1% - 50%)
Default: 0.5%
Good for stablecoins and liquid tokens
1-3% Slippage
Standard for most tokens
5-12% Slippage
For low-liquidity or volatile tokens
Transaction Deadline
Time limit for swap to execute (default 30 minutes)
Auto Router
Finds best route across V2/V3 pools for optimal price
High Slippage Warning
Red warning if slippage >5%; beware of scam tokens
Price Impact
What is Price Impact?
How much your trade moves the market price
<1% Impact
Ideal; liquid pool with sufficient depth
1-3% Impact
Acceptable; consider splitting into smaller trades
3-5% Impact
High; split trade or use aggregator (1inch, Matcha)
>5% Impact
Very high; likely low liquidity; proceed with caution
Reduce Impact
Trade smaller amounts, use limit orders, or wait for liquidity
Providing Liquidity (V2)
Pool Tab
Click "Pool" in top navigation
New Position
Click "+ New Position" or "Create a Pair"
Select Token Pair
Choose two tokens (e.g., ETH/USDC)
50/50 Ratio Required
V2 requires equal value of both tokens
Enter Amounts
Enter one token amount; other auto-calculates
Approve Tokens
Approve each token (2 transactions + 1 add liquidity)
Receive LP Tokens
Uniswap V2 LP tokens represent your pool share
Earn Fees
0.3% fee on all swaps split among liquidity providers
Remove Liquidity
Pool > Your Liquidity > Remove > Choose % (25%, 50%, 75%, 100%)
Providing Liquidity (V3)
Concentrated Liquidity
Set custom price range for your liquidity
Fee Tiers
0.01% (stablecoins), 0.05%, 0.3% (standard), 1% (exotic pairs)
Select Price Range
Min and Max price where liquidity is active
Full Range
Similar to V2; liquidity active at all prices
Narrow Range
Higher capital efficiency but requires management (e.g., ±10%)
Out of Range
If price moves outside range, liquidity inactive (no fees)
Rebalance Position
Remove and add liquidity with new range (costs gas)
V3 NFT Positions
Each position is an NFT (not fungible LP tokens)
Collect Fees
Pool > Your Positions > Collect Fees (claimed separately)
Impermanent Loss (IL)
What is IL?
Loss vs holding tokens due to price divergence
How It Happens
Pool rebalances 50/50 value; you sell winners, buy losers
1.25x Price Change
~0.6% impermanent loss
1.5x Price Change
~2% impermanent loss
2x Price Change
~5.7% impermanent loss
4x Price Change
~20% impermanent loss
Minimize IL
Provide liquidity to correlated pairs (USDC/DAI, WBTC/ETH)
Offset with Fees
High-volume pools can earn enough fees to cover IL
IL Calculators
Use dailydefi.org/tools/impermanent-loss-calculator
Analytics & Tools
info.uniswap.org
Official analytics: top pools, tokens, transactions
Pool Stats
TVL (Total Value Locked), 24h volume, fees, APR
APR Calculation
(24h fees × 365) / TVL = estimated annual return
Top Pools by Volume
ETH/USDC, WBTC/ETH, ETH/USDT typically highest
DEX Aggregators
1inch.io, matcha.xyz split orders across multiple DEXs
Gas Trackers
Etherscan.io/gastracker for optimal transaction timing
APY.vision
Track LP performance, IL, historical returns
Advanced Features
Limit Orders
Set specific price; uses Uniswap V3 range orders
Multi-Hop Routes
Auto-router swaps through multiple pools (e.g., DAI>WETH>UNI)
Expert Mode
Settings > Enable Expert Mode (skip confirmations; risky)
Custom Tokens
Import unlisted tokens via contract address (verify first!)
Transaction Settings
Adjust gas price manually for faster/cheaper swaps
Common Issues
"Insufficient Liquidity"
Pool too small for your trade size; reduce amount or increase slippage
"Transaction Failed"
Price moved beyond slippage tolerance; increase slippage or wait
"TRANSFER_FROM_FAILED"
Token approval needed or insufficient balance
High Gas Fees
Use Layer 2s (Polygon, Arbitrum, Optimism) for 90%+ savings
Pending Transaction
Speed up or cancel in MetaMask with higher gas
Security Tips
Verify Token Contracts
Check contract on Etherscan; compare with official website
Beware of Scam Tokens
Fake tokens with similar names/symbols; verify before buying
Test with Small Amount
Try $10-50 first on new tokens
Unlimited Approvals
Review token allowances on revoke.cash; revoke unused ones
Front-Running
Bots may front-run large orders; use Flashbots or private RPCs
Pro Tips:
- Layer 2 First: Use Polygon or Arbitrum for <$1000 trades; save 90%+ on gas
- Stablecoin Pools: USDC/DAI pools have minimal IL and steady APR (5-15%)
- V3 Stablecoin Strategy: Narrow range (0.99-1.01) on USDC/USDT for 10-50x capital efficiency
- Gas Timing: Swap on weekends or late nights UTC for 50-70% lower gas
- Auto-Router Magic: Let Uniswap route through V2/V3; often saves 1-5% vs manual selection
- Collect V3 Fees Regularly: Fees aren't auto-compounded; claim and reinvest monthly
- Price Impact > Slippage: High price impact means thin liquidity; consider aggregators
- LP on Blue Chips: Start with ETH/USDC or WBTC/ETH; safer than exotic pairs