Many users have heard about Uniswap and the UNI digital asset. However, not all of them know what is Uniswap. This is why we, at AltSignals, have decided to create a guide about what is Uniswap (UNI), how it works, which are its main features and how you can start enjoying its solutions.
In the next sections, we will provide you with all the information you should have about What is Uniswap and how you can start using their services in order to gain exposure to the revolutionary DeFi market.
Disclaimer: this post should not be considered investment advice. This is only for educational purposes only. Never invest more than what you are able to lose and always ask for information to your professional financial advisors. We are not financial advisors.
Uniswap is a project that was released to the market that allows users to swap tokens based rather than exchanging them through a centralized cryptocurrency exchange. By using a set of smart contracts on top of the Ethereum (ETH) network, Uniswap users can perform trades of tokens without having to trust their funds to a third party.
The project has been expanding in recent months as it attracted a larger number of users that wanted to have exposure to digital assets.
This decentralized protocol was launched back in 2018 and it works as an automated market maker for traders. Any token creator can add their token to this platform and start offering it to users from all over the world. In just a few steps, a token creator can have their tokens listed and available for trading with a large user base.
Cryptocurrency exchanges have been always adding digital assets to their platforms and in many cases, these exchanges were receiving payments from token creators in order to get their coins listed. Now, this can be done 100% free using the Uniswap platform and in just a few steps.
The project is also able to create liquidity for DeFi projects that want to get exposure to the cryptocurrency market. While other decentralized exchanges have issues with liquidity, Uniswap automates the process of handling digital assets and incentivizes activity, limiting risk and also reducing the costs for every single individual and entity involved in the exchange of digital assets.
Users and companies are free to create liquidity pools for whichever token they want to. Thus, it is very useful for a large number of smaller projects that are not able to get listed in larger and centralized exchanges.
Uniswap decided to reward users with the UNI token, a governance token that can be used by users in the Uniswap protocol, vote for new initiatives and also speculate with its price. There was a large demand for the virtual currency which skyrocketed from $2.56 to $6.69 in just a few days.
At the time of writing, UNI has a price of around $3.55 and a market valuation of $344 million. In this way, UNI is the 43rd largest cryptocurrency in the world in terms of market valuation. This token will allow the project to continue moving forward and show the crypto community the founders are focused on the future of this platform.
The token has already been listed in several exchanges and a large number of users is now able to get access to it. Thus, individuals that believe in the future of this project can already acquire the UNI token and start holding it waiting for its price to grow.
It is worth mentioning that when the digital currency was airdropped to users that were handling their coins using Uniswap, the community received it very happily considered it helped many individuals in poor countries and developing countries where the $400 / $600 airdropped were worth more than a median salary in these regions.
The Uniswap protocol has been growing in the last months in order to continue expanding the DeFi market. The project has been working on a daily basis in order to allow users exchange (swap) their coins in a fast, easy and reliable way without having to trust a third party.
In addition to it, users were also able to enjoy the airdrop of the UNI token that helped a large number of individuals from all over the world. Nowadays, the UNI token can be acquired in a large number of exchanges.
आपको कुछ सबसे अनन्य, गेम बदलने वाले क्रिप्टोकुरेंसी सिग्नल, समाचार पत्र, पत्रिकाएं, ट्रेडिंग संकेतक, उपकरण और बहुत कुछ तक पहुंच प्रदान करना।