Leading decentralized commutation Uniswap has surpassed $50 billion in all-time trade volume, a major milestone for the DEX sector.

On Dec. 15, Uniswap creator Hayden Adams tweeted data indicating the platform has processed a life-time volume of $51.7 billion across 26,000 unique trading pairs — equating to nigh $ii million per pairing on average.

If Uniswap were to maintain its contempo volumes of $x billion per calendar month over the past three months, Adams estimates the platform would exceed $1 trillion in lifetime volume in 8 years.

Some from the crypto community take expressed skepticism regarding the source of much of Uniswap'due south volume — with the platform featuring no KYC and no vetting process for listed tokens.

Twitter user "Cyber hokie" insinuated that much of the platform's book came from darknet markets, money laundering and wash-trading, although Uniswap's fixed fee schedule would make launder-trading cost-prohibitive.

The platform has been a destination for ill-gotten funds. In September, the hacker who stole $200 million of crypto from Hong Kong-based exchange KuCoin sent $1.2 million worth of SNX to Uniswap for laundering, intensifying concerns regarding the potential for criminal actors to corruption the platform.

Twitter user "QueenCryptoCat" speculated that "half" of Uniswap'southward volume may take been generated by tokens that ultimately comprised little more than "carpet-pulls," asking:

"Is it possible to pause down the carpet five. vs legitimate volume?"

Since launching its second "V2" iteration on May eighteen, Uniswap's full value locked has skyrocketed from $36.v million to rank equally the fifth-largest DeFi protocol with $1.37 billion today, according to DeFi Pulse.

Uniswap has faced constant competition from forked clones and "vampire attacks" seeking to siphon away its liquidity, with rival automatic marketplace maker SushiSwap currently ranking backside Uniswap equally the 6th-largest DeFi projection, with $1.07 billion nether management.

According to Dune Analytics, Uniswap represents 59.5% of weekly DEX book, followed past 0x with 12.nine%, SushiSwap with xi% and Curve with 10.two%.

Weekly DEX volume: Dune Analytics

Uniswap besides dwarfs its opponents past number of traders, with more than than 101,000 unique addresses interacting with the protocol in the by seven days. SushiSwap ranks second with 3,392, followed by Kyber with 1,662, Curve with 982 and 0x with 859.

The highly anticipated Polkadot-native DEX Polkaswap may also sally as a major competitor to Uniswap in 2021, although an estimated release date for the project is currently unknown.