Review on Uniswap by Stephen Toluwani

Name: Uniswap
Item: Uniswap
Rating: 3

January 31, 2021

Uniswap V1 has had an upgrade to its limitations

A﻿fter so much internal deliberations and discussions to the limitations of what Uniswap had, it had to be upgraded. The V1 of the Uniswap exchange of which this review is based on, is still currently active, recording trading volume in thousands of dollars. The exchange had some limitations during it's most active days. These limitations will be the discussion of this exchange.
These limitations range from it's lack of price oracles. This price oracles utilises Decentralized Oracle services to being real time price to the exchange. The lack of this price oracle allowed for traders to rip off new users who are yet to understand trading in a decentralized exchange market. Another limitations of Uniswap is its ETH-only pairs which made swapping really expensive considering the high gas fees charged on the Ethereum network. One last limitations of Uniswap was it's lack of support for other ERC standard tokens.
With the new upgrade, a lot has been done to ake off these limitations on Uniswap and with Ethereum being a popular coin, the V1 of Uniswap is still being actively used to trade. One just has to be careful of the trade pairs as scammers could easily create a token with the same name and cause losses. It even seems to be more popular on Uniswap V1. One also has to take note of the gas fees, after all, Ethereum fees are yet to be low costly. But Uniswap is still a recommended decentralized exchange for easy Ethereum and ERC20 tokens exchange
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Pros