Uniswap and SushiSwap both let you trade crypto without a middleman-but they’re not the same.

If you’ve used a decentralized exchange before, you’ve probably traded on Uniswap. It’s the go-to for millions of people who just want to swap ETH for a new token quickly and safely. But if you’ve been digging deeper into DeFi, you’ve likely heard of SushiSwap-the platform that started as a copy of Uniswap but added rewards, staking, and multi-chain support. So which one should you use in 2025? It depends on what you’re trying to do.

Uniswap is the simple, reliable choice

Uniswap launched in 2018 and changed how people trade crypto. Instead of order books, it uses automated market makers (AMMs) that let you swap tokens instantly. No waiting. No brokers. Just connect your wallet and trade.

As of late 2025, Uniswap handles $1-2 billion in daily trades and holds around $4 billion in locked liquidity. That’s more than 90% of SushiSwap’s total. Why? Because it’s dependable. Traders know it won’t crash during market spikes. It’s fast. It’s clean. And it works the same way whether you’re on Ethereum, Polygon, or Arbitrum.

Uniswap V3 introduced something big: concentrated liquidity. Instead of spreading your funds across a wide price range, you can now focus them between two prices-like setting a custom price band for ETH/USDC. That means less slippage and higher returns for experienced liquidity providers. Fees are flexible too: 0.05% for stablecoins, 0.3% for most tokens, and 1% for risky new coins.

But here’s the catch: Uniswap doesn’t pay you extra. You earn only the trading fees from your liquidity pool. There’s no token reward. No staking. Just fees. The UNI token gives you voting rights on protocol changes, but it doesn’t generate income. If you’re not into governance or yield farming, you’ll barely notice UNI exists.

SushiSwap rewards you for using it

SushiSwap didn’t start as a rival-it started as a fork. In 2020, a team took Uniswap’s code and added one key feature: token rewards. They gave users SUSHI tokens just for providing liquidity. That move exploded in popularity. People weren’t just swapping-they were farming.

Today, SushiSwap still pays out rewards. Its Onsen Program gives bonus SUSHI tokens to liquidity providers on new or low-liquidity pairs. If you add ETH to a new memecoin pool, you might earn 10x more SUSHI than on a major pair. That’s powerful for early adopters and yield hunters.

But it doesn’t stop there. SushiSwap also gives you a cut of trading fees through xSUSHI. When you stake your SUSHI tokens, you get xSUSHI. Every time someone trades on SushiSwap, 0.05% of the fee goes to xSUSHI holders. That’s passive income-just for holding and staking.

And unlike Uniswap, SushiSwap runs on 14+ blockchains: Avalanche, Fantom, Polygon, Harmony, and more. That means you can trade tokens on cheaper networks without leaving the platform. If you’re tired of Ethereum gas fees, SushiSwap’s multi-chain setup lets you avoid them.

Who’s it for? Beginners vs. DeFi veterans

Uniswap is easier. Period.

Open the app. Connect your wallet. Pick a token. Swap. Done. The interface is minimalist. No confusing tabs. No hidden menus. Even if you’ve never used a DEX before, you’ll figure it out in under a minute. The mobile app is just as smooth.

SushiSwap? It’s a different story. The homepage has tabs for Swap, Yield, Lend, Limit Orders, and more. If you don’t know what “impermanent loss” means or how to bridge assets between chains, you’ll feel lost. It’s built for people who already understand DeFi mechanics.

But if you’ve been trading for a while, SushiSwap gives you tools Uniswap doesn’t. You can set limit orders to buy ETH at $3,200 without watching the price. You can lend your assets and earn interest. You can farm across multiple chains. It’s like a full DeFi suite-where Uniswap is just the swap engine.

Tokenomics: Governance vs. Income

UNI and SUSHI both let you vote on changes, but that’s where the similarity ends.

Uniswap’s UNI has a max supply of 1 billion tokens. You can hold it. You can vote. But you won’t earn anything from it. No staking rewards. No fee sharing. It’s purely a governance token. Many users hold it for voting power or speculation, not income.

SushiSwap’s SUSHI has a max supply of 250 million. But here’s the difference: every SUSHI you hold can be staked into xSUSHI, which earns a share of trading fees. That’s direct economic value. It turns your token into a mini-bond that pays you every time someone trades.

That’s why SUSHI holders are more likely to stay long-term. They’re not just speculating-they’re earning. Uniswap users don’t have that incentive. They’re just hoping UNI’s price goes up.

Security and trust

Both platforms have been audited multiple times. Neither has suffered a major exploit in its core contract. But Uniswap’s track record is longer. It’s been live since 2018. Millions of trades. Billions in volume. It’s the gold standard.

SushiSwap’s code is based on Uniswap’s, so the core security is solid. But its added features-like yield farming and cross-chain bridges-create more moving parts. More complexity means more potential for user error. A misconfigured farm or a failed bridge can cost you money.

For risk-averse users, Uniswap is safer. For those who want to maximize returns and understand the risks, SushiSwap is more rewarding.

What’s next for both?

Uniswap is expanding beyond swaps. It now has an NFT marketplace and is testing on-chain derivatives. Its focus remains on making swaps faster, cheaper, and more efficient.

SushiSwap is doubling down on DeFi integration. Its lending protocol, Kashi, lets users borrow against collateral. Its limit orders let you automate buys and sells. Its multi-chain expansion is ongoing, with new chains added every few months.

Neither is slowing down. But they’re chasing different goals. Uniswap wants to be the default DEX for everyone. SushiSwap wants to be the powerhouse for active DeFi users.

Final pick: Use Uniswap if...

• You’re new to DeFi and just want to swap tokens
• You care about reliability over rewards
• You trade mostly on Ethereum, Polygon, or Arbitrum
• You don’t want to learn staking, farming, or bridging

Use SushiSwap if...

• You’re already comfortable with DeFi tools
• You want to earn extra tokens just for providing liquidity
• You trade on multiple chains and want to avoid high gas fees
• You like limit orders, lending, and automated strategies

There’s no “better” platform. Only the right one for your goals. If you’re just starting out, begin with Uniswap. Learn the basics. Then, if you want to earn more, try SushiSwap. Many users run both-using Uniswap for quick swaps and SushiSwap for farming and staking.