Uniswap, the decentralized exchange (DEX), has achieved a significant milestone by surpassing $2 trillion in all-time trading volume, achieving this feat approximately five and a half years after its launch in November 2018.

According to data compiled by Uniswap's strategy and operations lead, Zach Wong, Uniswap crossed the $2 trillion mark at approximately 11:55 am UTC on April 5, as tracked by a Dune Analytics dashboard.

Uniswap Labs had alerted the community about the imminent milestone around 6:00 pm UTC on April 4, expecting the $2 trillion mark to be reached within 24 hours.

For context, the $2 trillion trading volume of Uniswap exceeds the gross domestic products (GDPs) of countries such as Australia, Brazil, and South Korea, reflecting the significant economic activity facilitated by the platform.

Adding an element of excitement, Uniswap Labs announced that it would transfer $200 in USD Coin to the first person who captured and sent the firm a video clip showing the Dune Analytics dashboard refreshing to display Uniswap's trading volume reaching $2 trillion.

The trading volume data encompasses transactions across various blockchains supporting Uniswap, including Ethereum, Polygon, Optimism, Arbitrum, Celo, BNB Chain, Base, Blast, and the Avalanche Network.

Uniswap initially reached the $1 trillion trading volume milestone in May 2022, approximately 42 months after its launch in November 2018.

Remarkably, it took less than 24 months for Uniswap to surpass the second trillion in trading volume, despite facing intensified competition within the DEX space. DEXs serve as platforms for token swaps without intermediaries, facilitated by smart contracts.

Uniswap continues to lead the DEX sector by a wide margin in terms of trading volume, having recorded $21.6 billion in the past week alone, as per data from a Dune Analytics dashboard maintained by one of the platform's founders, Fredrik Haga.

Among other DEXs, PancakeSwap, a Uniswap fork, ranks second with a trading volume of $9.6 billion, followed by Curve, Balancer, and Trader Joe, with volumes ranging from $1.8 billion to $800 million.