Uniswap
What is Uniswap?
Uniswap is a decentralized protocol that was created for trading various cryptocurrencies based on smart contracts. This protocol operates on the Ethereum network. Uniswap was the first such project to create automated market maker and liquidity pools.
Uniswap was founded by Hayden Adams, formerly of Siemens. For this project, he was able to bring in other people who had experience in large technology companies such as Google and Microsoft. Work began in 2017, and already in the spring of 2018 a test version of Uniswap was presented, and in the autumn the finished version was launched.
The project protocol includes a whole series of smart contracts, thanks to which users can trade among themselves on the Ethereum blockchain. From a technical point of view, this is a decentralized exchange (DEX).
Uniswap is a public tool that fairly splits rewards between liquidity providers. Providers support the exchange, thus “locking” the tokens, so that other users can trade in a decentralized systеm.
Uniswap does not require its customers to go through registration, KYC and AML procedures. To work with the site, you only need a browser wallet that supports working on the Ethereum network. Due to the fact that the Uniswap platform is decentralized, absolutely anyone can create their own asset here, and there is no administration on this platform that would deal with asset listing issues.
You can access the Uniswap protocol using the uniswap.org interface. To connect, you must use a browser wallet that supports Ethereum.
Network members can swap tokens or add new assets to the Uniswap liquidity pool. To do this, the user must sеlect the token that he wants to receive and the token with which he is going to pay. After that, he needs to approve the transaction using his browser wallet, confirm the transaction and pay the Ethereum network fee.
The project network uses the Uniswap internal governance token (UNI), which is needed, for example, for voting. The decision to create this token was sudden and therefore the way it was distributed was unusual. Its fixed amount was credited to all users who at least once did any action on the Uniswap platform.
Mining Uniswap
It is impossible to mine this cryptocurrency in the usual ways, such as using the computing power of a computer or staking on a crypto wallet. At the same time, you can put your assets in one of the liquidity pools, and thus receive interest for maintaining liquidity.
How do I get Uniswap?
Uniswap (UNI) can be bought on many crypto exchanges or, for example, through a reliable crypto exchange such as Leoexchanger!.
Uniswap price dynamics (USD)
As of October 2022, 1 UNI costs approximately $6.26. The total market capitalization is $4,768,053,199.
The price movement chart is shown below:
How to store Uniswap?
You can use a crypto wallet to store UNI. The most popular crypto wallets for this cryptocurrency are Metamask, Trust Wallet, Atomic Wallet.
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