Uniswap and SushiSwap are two of the most popular decentralized exchanges (DEXs) in crypto. They look similar on the surface—both use automated market maker (AMM) liquidity pools, both are non-custodial, and both let you trade tokens without a middleman.

But under the hood, they are very different.

If you’re trying to choose the best DEX for swapping tokens, earning yield, or exploring DeFi, this guide breaks down fees, liquidity, rewards, security, token support, speed, and overall user experience.


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What Is Uniswap? (The AMM Pioneer)

Uniswap launched in 2018 and became the blueprint for modern AMMs. It popularized the idea of swapping tokens directly through liquidity pools instead of order books.

Key Features

  • Massive liquidity

  • Extremely simple interface

  • Supports thousands of ERC-20 tokens

  • Runs across Ethereum, Base, Arbitrum, Optimism, Polygon, and more

  • Strong developer support and frequent updates

Uniswap is the “default DEX” for most DeFi users because it offers fast, reliable trades with deep liquidity.


What Is SushiSwap? (The Community-Driven Uniswap Fork)

SushiSwap started as a fork of Uniswap but evolved into a broader DeFi ecosystem. It not only offers swaps, but also yield farming, lending, staking, and cross-chain capabilities.

Key Features

  • Cross-chain swaps on 10+ networks

  • Extra yield opportunities through Sushi Farms

  • SUSHI staking rewards (xSUSHI)

  • Community governance and incentives

  • Larger suite of DeFi tools beyond swapping

SushiSwap is known for its community-first culture and multi-chain expansion.


Uniswap vs. SushiSwap: How the Technology Works

Both platforms use automated market makers (AMMs), where users provide liquidity and earn fees. The difference is in how they’ve evolved.

Uniswap Uses:

  • Constant product AMM (Uniswap v2)

  • Concentrated liquidity (v3) — LPs set price ranges

  • Hooks (v4, upcoming) — customizable liquidity strategies

SushiSwap Uses:

  • Mostly Uniswap v2-style AMMs

  • More traditional liquidity pools without LP price ranges

  • Simpler LP mechanics for beginners

Winner:

Uniswap for advanced AMM tech
SushiSwap for easier LP participation


Trading Fees: Which DEX Costs Less?

Uniswap Fees

  • Pools use 0.05%, 0.3%, or 1% fee tiers

  • Highly liquid pools usually use 0.05% or 0.3%

  • No additional token incentives

SushiSwap Fees

  • Standard 0.3% fee

  • 0.05% goes to SUSHI stakers

  • 0.25% goes to liquidity providers

Winner:

Uniswap for lower fees on many pairs
SushiSwap for sharing fees with token stakers


Liquidity Depth: Who Has More Trading Volume?

Liquidity is crucial for good prices and low slippage.

Uniswap Liquidity

  • Consistently the highest of any DEX

  • Better prices on most major token pairs

  • Typically lower slippage

SushiSwap Liquidity

  • Much lower on most tokens

  • Sometimes competitive on:

    • Long-tail assets

    • Cross-chain pools

    • Incentivized farms

Winner: Uniswap (by a wide margin)


Token Availability

Uniswap

  • New tokens often launch here first

  • Best for long-tail assets

  • Huge variety across chains

SushiSwap

  • Good coverage, but not as extensive

  • Some chains offer unique pools not found on Uniswap

Winner: Uniswap


Rewards & Yield Opportunities

SushiSwap shines when it comes to earning yield.

SushiSwap Yield Options

  • Farms with boosted APRs

  • SUSHI staking (xSUSHI)

  • Higher % of trading fees distributed to the community

  • Cross-chain yield opportunities

Uniswap Yield Options

  • LP fees only

  • Concentrated liquidity can earn higher returns, but requires active management

  • No native token rewards

Winner: SushiSwap for passive yield

Uniswap only wins if you are an expert managing concentrated liquidity.


Security Comparison

Both platforms have undergone major audits and are considered safe, but differences exist.

Uniswap Security

  • Extremely battle-tested

  • Very few security incidents

  • Largest developer team

SushiSwap Security

  • Mostly secure

  • Past issues include:

    • Admin key controversies

    • Token migration drama

    • High-profile smart-contract bug in 2023 (quickly patched)

Winner: Uniswap


User Experience & Interface

Uniswap UX

  • Extremely simple

  • Clean and intuitive design

  • Great for beginners

SushiSwap UX

  • More complex

  • Many menus and additional features

  • Better for advanced DeFi users

Winner: Depends on your level

  • Beginner: Uniswap

  • Advanced user: SushiSwap


Speed & Gas Efficiency

Uniswap

  • Highly optimized smart contracts

  • Faster execution

  • Lower gas on most chains

SushiSwap

  • Slightly higher gas usage

  • Depends heavily on chain and pool

Winner: Uniswap


SushiSwap vs. Uniswap: Quick Comparison Table

Feature Uniswap SushiSwap
Trading Fees 0.05–1% ~0.3%
Liquidity Very high Moderate
Token Variety Excellent Good
Yield Farming Limited (LP fees only) Excellent
Cross-Chain Support Broad Very broad
Security Top tier Good but mixed history
UX Very easy More advanced
Best For Traders Yield farmers

Which Should You Use? Final Recommendation

Use Uniswap if you want:

  • Best prices

  • Lowest slippage

  • Fast trades

  • Largest token selection

  • Top-tier security

Best for: Everyday swaps, beginners, whales, pros.


Use SushiSwap if you want:

  • Yield farming opportunities

  • More community-driven rewards

  • Strong cross-chain support

  • SUSHI staking

Best for: Yield farmers, multi-chain explorers, and active DeFi users.


Final Verdict

Both DEXs are great, but they serve different purposes:

  • Uniswap is the best DEX for trading.

  • SushiSwap is the best DEX for earning yield and exploring multi-chain DeFi.

Most users benefit from using both, depending on whether they want to swap tokens or farm rewards.



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About the Author: Alex Assoune


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