Arrakis V2 Review 2026: Uniswap V3 Market Making for Issuers

Arrakis V2 is market-making infrastructure built on Uniswap V3. DefiLlama files it under Liquidity Manager and has tracked it since March 2023 on Ethereum, Polygon, Arbitrum and Optimism. It has no token listed.

The Arrakis brand has moved toward serving token issuers. The homepage says it runs automated, non-custodial market making for 100+ token issuers across Uniswap V4, Aerodrome, PancakeSwap, Velodrome and Solana. It also highlights case studies with Morpho, Maple and Bitpanda, plus real-world assets, equities and Hyperliquid markets.

The V2 product itself is small by TVL, at about $165K with a 1.9% drop over seven days. A cryptorank snippet reports $4.00M raised in funding. A reported $7.2K exploit on a G-UNI vault shows the design has been attacked before. The project does not say whether that incident affects V2 specifically.

Uniswap V3 lets liquidity providers place funds in a chosen price range, which uses capital efficiently but needs frequent adjustment. If price moves out of range, the position stops earning fees. Arrakis V2 adds a layer that automates this management through vaults and strategies.

According to its description, the strategies include sophisticated market-making approaches that were mostly feasible on centralized exchanges. Issuers or depositors supply tokens, and the strategy decides how to place and rebalance liquidity. The homepage says funds remain self-custodial.

The current homepage describes a broader product set, including Uniswap V4, Aerodrome, PancakeSwap, Velodrome, Solana and Hyperliquid. How much of that applies to the original V2 vaults is not clear from public sources, which only show DefiLlama tracking V2 on four chains.

Arrakis V2 fees are not stated publicly reviewed. The homepage routes issuers to a contact form instead of listing a price, and DefiLlama does not show a fee schedule.

A third-party research snippet describes the earlier PALM service as involving a fee share plus a percentage of assets under management, but the wording is unclear and may be outdated. Users should check the Arrakis docs or ask the team for current terms, and remember that gas and Uniswap pool fees apply on top.

DefiLlama lists zero audits for Arrakis V2, and public sources name none, so users should check Arrakis documentation for audit reports before depositing. Liquidity is described as self-custodial, but smart-contract and strategy risk remain, and the Arrakis site has a dedicated Risks page.

A search result reports a roughly $7.2K loss on a G-UNI vault that priced mint and burn from Uniswap V3 spot prices, enabling a sandwich. The amount is small, but it shows the kind of price-manipulation risk liquidity vaults face. The project does not give regulatory details. This is not financial advice.

Arrakis V2 is aimed at token issuers and projects that want deeper, actively managed onchain liquidity without running it themselves. Experienced liquidity providers who understand Uniswap V3 ranges and impermanent loss may also find it relevant. Beginners looking for simple, low-risk yield are not the target audience.