Uniswap and SushiSwap are leading decentralized exchanges (DEXs) built on the Ethereum blockchain. While both platforms share core functionalities, they cater to different user needs—Uniswap excels in trading volume and innovation, whereas SushiSwap offers yield farming incentives and community rewards.
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Key Features Compared
What Is Uniswap?
Uniswap is a pioneer in decentralized trading, enabling users to:
- Swap tokens via liquidity pools.
- Earn fees as a liquidity provider (LP).
- Concentrate liquidity in V3 (via NFTs) for higher yields.
Fee Structure: 0.05%–1% per swap (100% to LPs).
What Is SushiSwap?
SushiSwap, a Uniswap fork, adds gamification and yield farming:
- Sushi-themed interface with staking rewards.
- 0.05% of swap fees distributed to SUSHI holders.
- High APY pools (up to 96%).
Fee Structure: 0.3% per swap (0.25% to LPs, 0.05% to holders).
Similarities
- Automated Market Maker (AMM): Both use smart contracts for decentralized swaps.
- Liquidity Pools: Users earn fees by depositing tokens.
- Ethereum-based: Support ERC-20 tokens.
Critical Differences
| Feature | Uniswap | SushiSwap |
|-----------------|-----------------------|-----------------------|
| Liquidity | V3 NFTs (concentrated)| Full price curve |
| Fees | 0.05%–1% (LPs keep 100%) | 0.3% (LPs get 0.25%) |
| Yield Farming| No | Yes (up to 96% APY) |
Where to Buy
Uniswap (UNI)
- U.S. Exchanges: Kraken, Gemini, Coinbase.
- Global: Binance (non-U.S.).
SushiSwap (SUSHI)
- Direct purchase on Coinbase.
- Swap ETH for SUSHI on DEXs.
FAQs
Q: Which platform offers better fees for LPs?
A: Uniswap—LPs retain 100% of swap fees (up to 1%).
Q: Is SushiSwap better than Uniswap?
A: Depends on goals. Uniswap suits traders; SushiSwap appeals to yield farmers.
Q: Can I provide liquidity on both platforms?
A: Yes, but manage impermanent loss risks.