coinedition.com
Decentralized Protocol (DeFi), Uniswap suffered a major breakdown as it could not be opened for several hours. Popular journalist Colin tweeted that as per the discord moderator of the firm, the breakdown was due to a Cloudflare routing issue.
The moderator further asked the users to use the current version via the IPFS links until the issue is solved.
Many users reported that the Uniswap website could not be opened. Its mod said in the discord: For all users unable to access the Uniswap web app, this is an ongoing issue. It's an issue with Cloudflare routing, until solved you can use the current version via IPFS links.
— Wu Blockchain (@WuBlockchain) November 17, 2022
Notably, the contracts are functioning properly although its front end is reportedly down. Usually, most of the users interact with the front end of the platform. Hence, they consider the entire platform is down although the problem is only restricted to the front end.
It is not just the Uniswap platform that is down, but its trading performance is down too. The protocol’s native token Uniswap (UNI) price is down by nearly 4% in the last 24 hours. Uniswap (UNI) is trading at a price of $5.783, at the time of writing.
The timing of the issue is iconic as on Tuesday, Uniswap shared that new users of its Web app crossed a significant figure in 2022. The exchange left behind leading Coinbase to become the second largest host for trading Ethereum with a volume of $1.1 Billion.
It is believed that the huge transition of users switching to Uniswap was a result of the recent FTX debacle. The protocol added that users are choosing platforms they know and can trust on. Strikingly, in June 2022, crypto exchanges and websites including Etherscan Browser, Discord, CoinGecko, etc had complained of similar Cloudflare routing issues.