Uniswap is a decentralized exchange built on Ethereum that utilizes an automated market making system rather than a traditional order-book. Instead of matching individual buy and sell orders, users can pool together two assets that are then traded against, with the price determined based on the ratio between the two. 

Uniswap

Uniswap Exchange

Unichain

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Onchain Activity

Unichain - Overview

Unichain: Transaction Acitivty

Real Economic Value is a standardized metric that tracks blockchain value accrual generated by user activity. REV consists of both in-protocol transaction fees and out-of-protocol tips that users pay for transaction execution, so it measures the monetary demand to transact onchain.

In the case of Base, there are no out-of-protocol tips. All REV is generated by in-protocol transaction fees, of which there are three types. 

  - **L1 Fee**: Covers the cost of submitting L2 transactions to Ethereum mainnet L1. It fluctuates based on Ethereum mainnet's network congestion.
  - **L2 Base Fee**: The minimum fee required for a transaction to be included in a block, dependent on the Base's network congestion.
  - **L2 Priority Fee**: An additional fee paid to prioritize a transaction within a  block. OP Stack chains like Base rely on priority ordering, where higher paying transactions are executed first, so priority fees enable sophisticated users to effectively bid for inclusion. 


Network REV for Base only consists of transaction fees

Unichain: Network REV (Real Economic Value)

Unichain: Total Application Revenue

Unichain: Stablecoin Supply and Transfer Volume

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