Since launching in 2018, Uniswap has expanded its user base by deploying on several other EVM networks, including Arbitrum and Optimism. Uniswap has retained its popularity due to its first-mover advantage, user familiarity, and constant product improvements. However, the increasing competition from other decentralized exchanges (DEXs) on each chain raises the question of whether Uniswap can maintain its dominance.
