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

If you're trading crypto on Optimism, you've probably heard of Ubeswap. It's the native decentralized exchange for the Optimism network - a Layer 2 solution built to make Ethereum cheaper and faster. But here’s the real question: is Ubeswap actually useful, or is it just another niche platform struggling to stay alive?

What Is Ubeswap, Really?

Ubeswap isn’t a new app you download. It’s a decentralized exchange (DEX) that runs entirely on Optimism. Think of it like Uniswap, but built specifically for Optimism’s network. It launched in 2021 as a fork of Uniswap V2, meaning it uses the same basic math to swap tokens - no order books, no middlemen. You connect your wallet, pick two tokens, and click swap. That’s it.

Unlike centralized exchanges like Binance or Coinbase, Ubeswap doesn’t hold your crypto. You keep your keys. No KYC. No account signup. That’s the whole point of DeFi. But here’s the catch: you need to understand Layer 2 first. If you don’t know how to bridge ETH or USDC from Ethereum mainnet to Optimism, you won’t be able to trade on Ubeswap at all.

How Does Ubeswap Compare to Other DEXs?

Let’s get real about numbers. As of October 2025, Ubeswap has $14.7 million locked in its pools. That sounds like a lot until you compare it to the giants. Uniswap on Optimism alone has over $1.2 billion. PancakeSwap on BNB Chain? $2 billion. Even iZiSwap on Optimism has more than five times Ubeswap’s TVL.

Ubeswap’s daily trading volume? Around $47,000. That’s less than what some single tokens on Uniswap move in an hour. Why does this matter? Low volume means high slippage. If you try to swap more than a few hundred dollars’ worth of OP or USDC, you’ll likely get a terrible price. One Reddit user swapped 5 ETH worth of OP and ended up with 12% less than expected. They switched to Uniswap’s Optimism pool - same gas fee, better rate.

Ubeswap also lacks features most traders expect. No limit orders. No stop-losses. No advanced charting. No margin trading. It’s a simple swap tool. If you want to trade strategically, you’ll need to use a different platform.

Speed and Cost: Where Ubeswap Actually Shines

Here’s where Ubeswap wins: cost and speed. On Ethereum mainnet, swapping tokens can cost $3-$10 in gas. On Ubeswap? Around $0.03. That’s not a typo. Gas fees on Optimism average 0.1-0.3 gwei. Transactions confirm in 2-5 seconds. That’s faster than most bank transfers.

For small, frequent swaps - like moving between OP, USDC, or DAI - Ubeswap is unbeatable. If you’re just holding Optimism-native tokens and need to rebalance your portfolio without paying a fortune, this is the place.

But remember: you need to get your assets onto Optimism first. Bridging from Ethereum can take 4-7 days if you use the standard withdrawal. There’s a faster option - but it costs more. If you’re not ready for that complexity, Ubeswap won’t help you.

Wallets, Security, and Ease of Use

You can connect Ubeswap with MetaMask, Coinbase Wallet, Ledger, or any wallet that supports Optimism. Setup is straightforward: add the Optimism network (chain ID 10), bridge your assets, then go to ubeswap.org. No login. No email. No password.

Security-wise, Ubeswap inherits Uniswap V2’s code, which has been battle-tested for years. No major exploits have occurred. But it doesn’t have the latest upgrades from Uniswap V3 - like concentrated liquidity or improved oracle systems. The Block rated its security architecture 6.8/10. Solid, but not cutting-edge.

One common issue users report: failed transactions due to bad gas estimates. The platform sometimes underestimates the cost, especially during network spikes. The fix? Manually raise the gas limit in your wallet. Ubeswap’s documentation tells you how - but it’s buried. Most users don’t find it until they’re stuck.

Who Is Ubeswap For?

Ubeswap isn’t for beginners. It’s not for people who want to buy crypto with a credit card. It’s not for traders doing large orders. It’s not even for most casual DeFi users.

It’s for one group: experienced crypto users who already use Optimism and need to swap small amounts of native tokens without paying high fees. If you’re holding OP, staking on Optimism, or using apps like Synthetix or Velodrome on Layer 2, Ubeswap is a handy tool.

But if you’re trying to trade new tokens, large amounts, or tokens not listed on Optimism, you’ll hit walls. Ubeswap supports only ERC-20 tokens native to Optimism or bridged from Ethereum. No Solana tokens. No Tron tokens. No BSC tokens. You’re locked into the Optimism ecosystem.

The Bigger Picture: Is Ubeswap Going to Survive?

This is the most important part. Ubeswap’s future is tied to Optimism’s. If Optimism grows, Ubeswap might grow with it. If Uniswap expands its Layer 2 support - which it already is - Ubeswap could vanish.

Delphi Digital estimates Ubeswap has only a 32% chance of surviving three more years. Messari calls it “high risk.” Why? Because as Optimism gets bigger, users will naturally migrate to Uniswap’s deeper pools, even if fees are slightly higher. Why use a small DEX with 100 tokens when you can use one with 5,000?

Ubeswap’s team is trying to stay relevant. They’re preparing for Optimism’s Bedrock upgrade in early 2026 and planning to join the Superchain initiative. That could mean better integration with Base and Worldcoin. But these are long-term bets. Right now, they’re fighting a losing battle.

What Users Are Saying

Trustpilot shows a 2.7/5 rating from just 17 reviews. That’s not enough for a solid average, but the complaints are consistent: “Too little liquidity,” “Slippage kills big trades,” “Interface feels outdated.”

Positive reviews? Only one thing comes up: “Gas fees were $0.03.” That’s it. No one says, “I found amazing tokens here.” No one says, “It’s the best DEX I’ve used.” Just, “It’s cheap.”

Web traffic? Only 1,550 monthly visits. That’s less than a small blog. The Telegram group has 2,347 members - but only 12 messages a day. The GitHub repo has three developers and 17 commits in 30 days. That’s not a thriving project. That’s maintenance mode.

Final Verdict: Should You Use Ubeswap?

Yes - if you’re already on Optimism and you’re doing small swaps. If you’re holding OP, USDC, or DAI and want to trade them without paying $5 in gas, Ubeswap is your best option.

No - if you’re new to crypto, want to trade large amounts, need advanced tools, or plan to hold altcoins not on Optimism. You’ll waste time and money.

Ubeswap isn’t broken. It’s just small. It’s not failing because it’s bad. It’s failing because the market moved on. Uniswap, SushiSwap, and even iZiSwap are offering more liquidity, more tokens, and better tools - all on Optimism too.

If you’re a power user who understands Layer 2 and values low fees above all else, Ubeswap still has a place in your toolkit. But if you’re looking for the future of DeFi trading, you’re better off watching Uniswap’s next move.