---
title: Fragmentation & Liquidity on DEX
url: https://www.ml-quant.com/papers/ssrn/4723685/
site: ML-Quant (https://www.ml-quant.com)
updated: 2026-09-26
license: Summaries CC BY 4.0; links go to the original sources
index: https://www.ml-quant.com/llms.txt
identifier: SSRN 4723685
source_url: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4723685
featured: 2024-02-14
citations: unknown
topic: Trading, Microstructure & Execution
---


# Fragmentation & Liquidity on DEX

Research indicates that high-fee trading pools on Uniswap attract more liquidity providers but have lower trading volumes, suggesting that fragmented liquidity boosts market participation and competition.

- Source: https://papers.ssrn.com/sol3/papers.cfm?abstract_id=4723685
- Identifier: SSRN 4723685
- Released: 2022-11-17
- First featured: Quant Letter No. 37 (2024-02-14): https://www.ml-quant.com/issues/2024-02-14/
- Citations (Semantic Scholar): not tracked
- Published in: not yet
- Topic: Trading, Microstructure & Execution

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