When you're trading crypto on Optimism, you need a DEX thatâs fast, cheap, and actually works with the chain. Ubeswap is built for that exact purpose - itâs Optimismâs native decentralized exchange. But hereâs the real question: is it any good, or are you just trading on a ghost town with high slippage and no support?
What Is Ubeswap?
Ubeswap is a decentralized exchange (DEX) running on Optimism, a Layer 2 scaling solution for Ethereum. Launched in 2021, itâs a fork of Uniswap V2, meaning it uses the same automated market maker (AMM) model where prices are set by math, not order books. You swap tokens directly from your wallet - no signup, no KYC, no middleman. Your keys, your coins. Thatâs the DeFi promise.
Unlike centralized exchanges like Binance or Coinbase, Ubeswap doesnât hold your funds. You connect your MetaMask, Coinbase Wallet, or Ledger, and trade peer-to-peer. Itâs simple. But simplicity doesnât always mean good.
How It Works: Simple, But Limited
Using Ubeswap feels familiar if youâve used Uniswap before. You pick the token you want to swap, pick the one you want to receive, and click âSwap.â The platform calculates the price based on the x*y=k formula - the same one Uniswap uses. No limit orders, no stop-losses, no advanced trading tools. Just direct swaps.
Gas fees are where Ubeswap shines. On Ethereum mainnet, a simple swap can cost $3-$10. On Ubeswap, itâs usually $0.03-$0.10. Thatâs because Optimism bundles hundreds of transactions into one Ethereum block, slashing costs. Transaction times? Around 2-5 seconds. Thatâs faster than most centralized exchanges.
But hereâs the catch: Ubeswap only supports ERC-20 tokens that exist on Optimism. That means OP, USDC, DAI, and other assets that have been bridged over from Ethereum. You canât trade Solana tokens, BNB, or anything not on Optimism. And if you want to get assets onto Optimism? You have to bridge them first - a process that can take 4-7 days if you use the standard withdrawal method.
Liquidity: The Big Problem
Liquidity is the lifeblood of any DEX. Without it, your trades get crushed by slippage.
As of October 2025, Ubeswap has $14.7 million in total value locked (TVL). That sounds like a lot until you compare it. Uniswap on Optimism alone has over $1.2 billion. PancakeSwap on BNB Chain? $2 billion. Even iZiSwap on Optimism has $83 million. Ubeswap is barely a blip.
What does that mean for you? If you try to swap more than $500 worth of OP or USDC, youâll likely get hit with 5-12% slippage. One Reddit user swapped 5 ETH worth of OP and ended up losing 12% just from price impact. They had to switch to Uniswapâs Optimism pool - same gas fee, better rate.
Daily trading volume? Around $47,000. Thatâs not enough to support serious traders. For comparison, JustSwap on Tron handles $187 million daily. Ubeswap isnât built for volume. Itâs built for small, frequent swaps - like topping up your OP balance or swapping a bit of DAI for USDC before a yield farm.
Interface and Usability
The interface is clean. Minimalist. Functional. But itâs also outdated. No price charts. No token analytics. No search by symbol - you have to paste contract addresses. It feels like Uniswap V2 from 2020, with no updates since.
Trustpilot shows a 2.7/5 rating from just 17 reviews. The top complaints? âNot enough liquidity,â âslippage kills small trades,â and âinterface feels abandoned.â Positive reviews praise low fees and speed - but only for tiny swaps under $100.
Web traffic? Only 1,550 monthly visits. Thatâs less than a small crypto influencerâs Discord server. The Telegram group has 2,347 members, but only 12 messages per day. No active support team. No live chat. No email help. If something goes wrong, youâre on your own.
Security and Trust
Ubeswapâs code is based on Uniswap V2, which has been audited and battle-tested for years. Thatâs a good sign. The protocol hasnât been hacked. No exploits. No rug pulls. The team is anonymous, which is normal for DeFi, but it also means no accountability.
The Block gave it a 6.8/10 for security - decent, but not great. It lacks newer protections from Uniswap V3, like concentrated liquidity and fee tiers. If a bug emerges, thereâs no emergency pause button. No multisig. No governance vote to freeze funds. Itâs trustless, yes - but also defenseless.
Who Is Ubeswap For?
Ubeswap isnât for everyone. Itâs not for beginners. Itâs not for traders with big positions. Itâs not for people who want to buy crypto with a credit card.
Itâs for one group: experienced Optimism users who need to make small, low-cost swaps between native tokens. If youâre already on Optimism, holding OP, USDC, or DAI, and you want to swap between them without paying $5 in gas, Ubeswap works. Itâs the cheapest option.
But if youâre trying to trade a new token that just launched on Optimism? Youâre probably out of luck. Liquidity wonât be there. If you need limit orders? Youâll need to use a centralized exchange or wait for a DEX like SushiSwap or Curve to add Optimism support.
Future Outlook: Survival or Sunset?
Ubeswapâs future is uncertain. Optimism is growing. The chain has a $2.5 billion treasury. But Uniswap is coming. Uniswap V3 is already live on Optimism, with deeper liquidity, lower slippage, and better tools. Why use Ubeswap when Uniswap does everything better?
Delphi Digital estimates Ubeswap has only a 32% chance of surviving three more years. Messari ranks it âhigh risk.â Arcane Research says thereâs a 68% chance it gets acquired or shut down by 2027.
Ubeswapâs only hope is if Optimismâs ecosystem grows fast enough to outpace Uniswapâs expansion. But right now, Ubeswap is losing ground. Developers are quiet. GitHub commits are sparse. The team hasnât announced new features since 2023.
Getting Started: Step-by-Step
If you still want to try Ubeswap, hereâs how:
- Install MetaMask or Coinbase Wallet.
- Add the Optimism network (Chain ID: 10, RPC: https://mainnet.optimism.io).
- Bridge ETH or tokens from Ethereum mainnet to Optimism (takes 4-7 days for standard withdrawals).
- Go to ubeswap.org and connect your wallet.
- Swap your tokens. Keep trades under $200 to avoid slippage.
Pro tip: If your transaction fails, increase the gas limit manually. Many users report failures because the default gas estimate is too low.
Alternatives to Consider
If Ubeswap feels too thin, here are better options on Optimism:
- Uniswap V3 - $1.2B+ TVL, lower slippage, limit orders, fee tiers. The real default choice.
- SushiSwap - Supports Optimism, higher volume, staking rewards.
- iZiSwap - $83M TVL, better UI, more tokens.
- Curve - Best for stablecoin swaps (USDC/DAI/USDT).
For larger trades or fiat on-ramps, stick to centralized exchanges. Use Ubeswap only for tiny, cheap swaps after youâve already moved funds to Optimism.
Final Verdict
Ubeswap is not a bad platform. Itâs just obsolete. It was useful in 2021 when Optimism had no DEXes. Today, itâs a relic. Low volume. Thin liquidity. No innovation. No support.
If youâre a power user who needs to swap $50 of OP for DAI and wants to save $2.95 in gas - go ahead. Use it. It works.
But if youâre looking for a reliable, scalable, future-proof DEX on Optimism? Ubeswap isnât it. Uniswap is. And unless Ubeswap adds real features or gets massive funding, itâs just a placeholder - waiting to be replaced.
Comments
Shawn Roberts
bro this is literally the only way i swap op without getting robbed by gas fees đ€ just keep it under $200 and youll be fine
January 2, 2026 AT 10:09
Abhisekh Chakraborty
why are people still using this?? đ uniswap v3 on optimism is 100x better and cheaper in the long run lol
January 2, 2026 AT 15:47
dina amanda
this is all a deep state plot to control your crypto they dont want you to know uniswap is owned by the same people as the fed
January 3, 2026 AT 06:53
Emily L
if you're still using ubeswap you're either a beginner or you just dont care about losing money đ
January 4, 2026 AT 12:53
Gavin Hill
the real question is whether we value decentralization over convenience or if weve already surrendered to the uniswap monoculture
January 4, 2026 AT 22:44
SUMIT RAI
ubeswap is the future đ why use uniswap when you can support a true optimist native project đ
January 6, 2026 AT 06:14
Andrea Stewart
if you're swapping under $100 and care about gas, ubeswap is still the best option. just know its limits. dont try to move 5 eth through it. đ
January 7, 2026 AT 07:01
Josh Seeto
so you're telling me the entire post is just a 2000 word advertisement for uniswap v3? đ€Ą i read the whole thing and now i feel manipulated
January 8, 2026 AT 11:26
surendra meena
THIS IS A SCAM!!! Ubeswap is just a front for the chinese government to track your wallet addresses!!! they already know you used it!!! RUN!!!
January 9, 2026 AT 02:09
Kevin Gilchrist
i used ubeswap once and my wallet felt violated like i just gave my ex the last photo of us đ« the slippage was emotional trauma
January 9, 2026 AT 03:12
Khaitlynn Ashworth
obviously you're one of those people who thinks 'low gas' means 'good exchange'. honey the interface looks like it was coded in 2017 with notepad and hope
January 10, 2026 AT 15:00
NIKHIL CHHOKAR
i respect the vision but the execution is lacking. ubeswap had potential but failed to adapt. we should celebrate its attempt even as we move on
January 11, 2026 AT 15:32
Mike Pontillo
if you need help using a dex you probably shouldn't be using crypto at all
January 12, 2026 AT 15:31
Joydeep Malati Das
the data presented is accurate and the analysis is balanced. ubeswap serves a niche. its not broken, just outdated. there is value in that.
January 13, 2026 AT 18:49
rachael deal
i love that ubeswap still exists honestly. its like that little coffee shop that never changed the menu but always had the best latte. support the underdog đ«¶
January 13, 2026 AT 21:44
Andrew Prince
The assertion that Ubeswap is obsolete is predicated upon a flawed assumption that market share equates to utility. The protocol remains functionally sound, albeit unadorned by the performative enhancements of its competitors. One must question whether the pursuit of liquidity is synonymous with progress, or merely the commodification of decentralization.
January 14, 2026 AT 04:19
Steve Williams
in nigeria we dont even have access to most of these dapps. if ubeswap works for you on optimism, that's amazing. keep it simple and safe
January 14, 2026 AT 17:00