Uniswap vs Curve: Which Is the Best DEX?

Uniswap v3 vs Curve v2: The Current Score

Uniswap and Curve are two of the largest exchanges within all of crypto. While the two were not always competitors, Curve’s foray into unpegged assets and Uniswap’s move to drop fees for stablecoin trades have turned the two into rivals. With v3, Uniswap moved away from its popular constant product (XYK) liquidity curve to a more dynamic model where LPs decide what price range they want to provide liquidity in. The concept came to be known as “concentrated liquidity,” as it effectively allowed LPs to compress their liquidity curve inside a tighter band.

As a rebuttal, Curve launched its v2 – a similar answer with a different approach. Curve v2 also relies on concentrated liquidity. Except, unlike Uniswap, LPs don’t choose their liquidity range – Curve’s market making algorithm does, enabling a passive LP experience. But let’s not get too deep into that at the moment. We’ll go through