Ubeswap Crypto Exchange Review: Is It Worth Using on Optimism?

When you're trading crypto on Optimism, you need a DEX that’s fast, cheap, and actually works with the chain. Ubeswap is built for that exact purpose - it’s Optimism’s native decentralized exchange. But here’s 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, it’s 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. That’s the DeFi promise.

Unlike centralized exchanges like Binance or Coinbase, Ubeswap doesn’t hold your funds. You connect your MetaMask, Coinbase Wallet, or Ledger, and trade peer-to-peer. It’s simple. But simplicity doesn’t always mean good.

How It Works: Simple, But Limited

Using Ubeswap feels familiar if you’ve used Uniswap before. You pick the token you want to swap, pick the one you want to receive, and click “Swap.” 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, it’s usually $0.03-$0.10. That’s because Optimism bundles hundreds of transactions into one Ethereum block, slashing costs. Transaction times? Around 2-5 seconds. That’s faster than most centralized exchanges.

But here’s 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 can’t 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, you’ll 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 Uniswap’s Optimism pool - same gas fee, better rate.

Daily trading volume? Around $47,000. That’s not enough to support serious traders. For comparison, JustSwap on Tron handles $187 million daily. Ubeswap isn’t built for volume. It’s 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 it’s 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? “Not enough liquidity,” “slippage kills small trades,” and “interface feels abandoned.” Positive reviews praise low fees and speed - but only for tiny swaps under $100.

Web traffic? Only 1,550 monthly visits. That’s less than a small crypto influencer’s 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, you’re on your own.

Security and Trust

Ubeswap’s code is based on Uniswap V2, which has been audited and battle-tested for years. That’s a good sign. The protocol hasn’t 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, there’s no emergency pause button. No multisig. No governance vote to freeze funds. It’s trustless, yes - but also defenseless.

Who Is Ubeswap For?

Ubeswap isn’t for everyone. It’s not for beginners. It’s not for traders with big positions. It’s not for people who want to buy crypto with a credit card.

It’s for one group: experienced Optimism users who need to make small, low-cost swaps between native tokens. If you’re already on Optimism, holding OP, USDC, or DAI, and you want to swap between them without paying $5 in gas, Ubeswap works. It’s the cheapest option.

But if you’re trying to trade a new token that just launched on Optimism? You’re probably out of luck. Liquidity won’t be there. If you need limit orders? You’ll need to use a centralized exchange or wait for a DEX like SushiSwap or Curve to add Optimism support.

Future Outlook: Survival or Sunset?

Ubeswap’s 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 “high risk.” Arcane Research says there’s a 68% chance it gets acquired or shut down by 2027.

Ubeswap’s only hope is if Optimism’s ecosystem grows fast enough to outpace Uniswap’s expansion. But right now, Ubeswap is losing ground. Developers are quiet. GitHub commits are sparse. The team hasn’t announced new features since 2023.

Getting Started: Step-by-Step

If you still want to try Ubeswap, here’s how:

1. Install MetaMask or Coinbase Wallet.
2. Add the Optimism network (Chain ID: 10, RPC: https://mainnet.optimism.io).
3. Bridge ETH or tokens from Ethereum mainnet to Optimism (takes 4-7 days for standard withdrawals).
4. Go to ubeswap.org and connect your wallet.
5. 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 you’ve already moved funds to Optimism.

Final Verdict

Ubeswap is not a bad platform. It’s just obsolete. It was useful in 2021 when Optimism had no DEXes. Today, it’s a relic. Low volume. Thin liquidity. No innovation. No support.

If you’re 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 you’re looking for a reliable, scalable, future-proof DEX on Optimism? Ubeswap isn’t it. Uniswap is. And unless Ubeswap adds real features or gets massive funding, it’s just a placeholder - waiting to be replaced.