MKR vs UNI
Maker / Sky and Uniswap scored on the same 25 variables, ranked against the same 251 tokens, with every gap between them shown.
Scoring pass 18 Sept 2026. Market snapshot 7 Oct 2026.
What separates them
MKR scores 177 of 250 and ranks 5th of 251. UNI scores 167 and ranks 9th. MKR leads by 10 points, which is inside the range where the individual variables matter more than the total. MKR takes 10 of the 25 variables, UNI takes 9, and 6 are level.
The framework rates MKR HOLD CORE and UNI HOLD. Two tokens close enough to compare do not have to land in the same band, and where they do not, the divergence table below is where the split comes from.
5 variables separate them by 3 points or more. MKR is clear on Protocol Revenue (9 against 4), P/S Multiple (8 against 3) and Insider Selling (7 against 4). UNI is clear on Active Users (8 against 5) and Social Mindshare (7 against 4).
All 25 variables, head to head
Both tokens were scored by the same framework in the same pass, so the numbers are directly comparable. What a comparison adds over two separate pages is the gap: a 6 against a 6 is a non-event, a 9 against a 3 is the reason to hold one and not the other.
Cash flow
| Protocol Revenue | 9 | 4 | MKR +5 | |
| Revenue Trend | 8 | 7 | MKR +1 | |
| P/S Multiple | 8 | 3 | MKR +5 | |
| Real Staking Yield | 5 | 3 | MKR +2 |
Supply
| Supply Inflation | 7 | 7 | level | |
| Vesting Schedule | 7 | 9 | UNI +2 | |
| Circulating / FDV Ratio | 7 | 8 | UNI +1 | |
| Buyback and Burn | 9 | 7 | MKR +2 |
Ownership
| Smart Money Flows | 7 | 7 | level | |
| Insider Selling | 7 | 4 | MKR +3 | |
| Holder Concentration | 5 | 5 | level |
Traction
| TVL Trend | 8 | 6 | MKR +2 | |
| Active Users | 5 | 8 | UNI +3 | |
| Developer Activity | 7 | 8 | UNI +1 | |
| Network Growth | 7 | 8 | UNI +1 |
Position
| Market Share | 8 | 8 | level | |
| Competitive Moat | 8 | 7 | MKR +1 | |
| Institutional Adoption | 8 | 8 | level | |
| Exchange Depth | 6 | 8 | UNI +2 | |
| Social Mindshare | 4 | 7 | UNI +3 |
Risk
| Regulatory Safety | 8 | 9 | UNI +1 | |
| Catalyst Calendar | 7 | 8 | UNI +1 | |
| BTC Alpha Potential | 6 | 4 | MKR +2 | |
| Team Execution | 7 | 7 | level | |
| Treasury Runway | 9 | 7 | MKR +2 |
Bars read outward from the centre: MKR to the left, UNI to the right. The side that leads a variable is filled. Each score is 1 to 10 against the same definition applied to all 251 rated tokens.
Market and supply
| MKR | UNI | |
|---|---|---|
| Price | $1,844 | $7.84 |
| Market cap | not published | $4.91B |
| Circulating | n/a | 62.5% |
| Dilution to full supply | n/a | 1.6x |
| Off all-time high | -70.7% | -82.5% |
| To recover the high | 3.4x | 5.7x |
| Total value locked | $7.17B | $2.77B |
| Network | Ethereum | Ethereum |
Price, market cap and all-time high from the CoinGecko snapshot fetched 7 Oct 2026. Supply shares are derived from circulating and eventual supply counts, which do not move with price. The 25 scores come from the research pass dated 18 Sept 2026.
Catalyst and risk on each side
MKR · HOLD CORE
USDS supply doubling to $20.6B, SubDAO launches, Sky Agent Network
MKR/SKY dual-token confusion, generic Sky rebrand, SubDAO dilution
UNI · HOLD
Bitwise spot UNI ETF (pending SEC), fee switch expansion to 11+ chains, BlackRock BUIDL integration + UNI purchases, Unichain UVN validators, V4 hooks marketplace, SEC safe harbor (5yr), CLARITY Act advancing
P/S 57-73x on actual protocol revenue ($26-61M not $1B), net inflationary +1.43%/yr (20M growth budget > 4.4M burns), $200M+ insider/VC selling in 2025, top 10 holders control 50.81%, Fluid took 55% stablecoin DEX share, aggregators route 50%+ of ETH volume
Common questions
- Is MKR or UNI the better investment?
- On this framework MKR scores higher: 177 against 167 of 250, and it is rated HOLD CORE against HOLD. That is a ranking of fundamentals as recorded at the last scoring pass, not a price forecast, and MKR still wins 10 of the 25 individual variables against UNI.
- What is the biggest difference between MKR and UNI?
- Protocol Revenue. MKR scores 9 of 10 there and UNI scores 4, a gap of 5 points on a single variable.
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Research and analysis, not investment advice. A higher score is one framework applied consistently to 251 tokens, not a prediction that one asset will outperform the other.