Guides
What is Uniswap? How the $5.75B DEX works, from AMM pools to v4 hooks
Uniswap is a decentralized exchange where people swap tokens against pools of liquidity instead of an order book. DefiLlama counted about $5.75 billion locked in it on November 2, 2026, and its newest version, v4, lets developers attach custom code called hooks to each pool.
DeFi
Uniswap opens the tool behind its UNI burns to any app. Robinhood takes USDC instead
TJAR, the system that turns Uniswap's protocol fees into UNI and burns it, is now open to everyone. It handled more than $15.3 million in a month, and its first outside user wants stablecoins, not UNI.
DeFi
Ethena's fee switch got zero votes against. So why have ENA buybacks not started?
ENA holders approved revenue-funded buybacks without a single vote against, but buybacks only start once USDe supply reaches $7.5 billion. On November 2 it was about $4.5 billion.