Review on Uniswap (V2) by Kenan Chalabi

Uniswap's real-time price today is $ 18.03 and the 24-hour trading volume is $ 342,534,343. Uniswap has fallen 3.05% in the last 24 hours. Currently, CoinMarketCap is ranked 11th, with a real-time market value of US $ 10,591,695,826. Its circulating supply is 587,349,049 UNI coins, and the maximum supply is 1,000,000,000 UNI coins.

If you want to know where to buy Uniswap, the main exchanges currently trading with Uniswap are Binance, OKEx, CoinTiger, ZBG and Upbit. You can find the others listed on our encrypted exchange page.

What is Uniswap (UNI)?

Uniswap is a popular decentralized exchange protocol, known for its role in facilitating the automated trading of decentralized finance (DeFi) tokens.

As an example of Automated Market Makers (AMM), Uniswap was launched in November 2018, but due to the DeFi phenomenon and the increase in related token transactions, it has become quite popular this year.

Uniswap aims to keep token trading automated and fully open to anyone holding tokens, while improving the efficiency of transactions, rather than traditional exchanges.

Uniswap uses automated solutions to solve liquidity problems to improve efficiency and avoid the problems that plagued the first decentralized exchange.

In September 2020, Uniswap went one step further and created its own governance token, UNI, and granted it to previous users of the protocol. This increases the earning potential and the ability of users to shape the future, an attractive aspect of decentralized entities. Who is the founder of

Uniswap?

Uniswap appeared to introduce AMM on Ethereum to a wider audience. The creator of the platform is Ethereum developer Hayden Adams.

Adams participated in various projects while completing Uniswap. His work was provided directly by Ethereum creator Vitalik Buterin. Buterin even finally named the protocol - it was originally called Unipeg.

Adams also stated that the original inspiration for the Uniswap platform came from a blog post by Buterin. After a friend persuaded him to start researching and understanding the protocol in 2017, his initial idea of ​​focusing on Ethereum emerged. What is unique about

Uniswap?

Uniswap exists to create liquidity, thereby creating transactions and the value provided by transactions in the DeFi field.

As one of the leading AMMs in operation today, this protocol works using the automatic exchange formula: X x Y = K. The founder Hayden Adams describes himself as the inventor of a specific implementation of this formula on Uniswap.

Uniswap is not just a decentralized exchange; tries to solve the liquidity problems encountered by platforms like EtherDelta.

By automating the market-making process, the agreement encourages activities by limiting risk and reducing costs for all parties. This mechanism also eliminates identity requirements for users. Technically, anyone can create a liquidity pool for any pair of tokens.

According to Uniswap, its governance token (UNI) was created to "formally recognize Uniswap as a public and self-sustaining infrastructure, while continuing to carefully protect its indestructible and autonomous qualities."

How many Uniswap (UNI) coins are there in circulation? The total supply of UNI governance tokens from Uniswap is 1 billion units. These will be available within four years, after which Uniswap will introduce a "permanent inflation rate" of 2% to keep participation online. The

token distribution currently includes the following: 60% is allocated to Uniswap community members, i.e. users, 21.51% is allocated to team members, 17.8% is allocated to investors and 0.69% is allocated to advisers. The last three distributions will be made according to a four-year award schedule.

In most cases configured to users, users who used Uniswap before September 1, 2020 will claim 15n. This even includes users who submit transactions that have never been successful-they are eligible for 400 UNIs. How is the Uniswap network protected?

Uniswap is a decentralized business agreement, and UNI is its internal governance token. UNI is an ERC20 token, which means it needs Ethereum to run.

ERC20 only defines a set of token rules and security considerations primarily related to the strength of the Ethereum network. For example, congestion can drive up the price of gas required to execute transactions, resulting in unusually high transaction fees and delays, affecting all participants.

Additionally, smart contracts can cause security concerns, which can cause DeFi merchants to lose funds; in fact, as of fall 2020, hackers have successfully stolen millions of dollars in the short life cycle of DeFi. Where can I buy Uniswap (UNI)?

Uniswap's UNI Governance Token can be used to trade other cryptocurrencies, stablecoins, legal currencies, etc. in the main exchanges.

Including Binance, OKEx and Coinbase Pro and of course the Uniswap deal itself.Uniswap was founded on November 2, 2018 by Hayden Adams, a former Siemens mechanical engineer.

Uniswap received investments from venture capital firms, including Andreessen Horowitz, Paradigm Venture Capital, Union Square Ventures LLC, and ParaFi Uniswap's average daily transaction volume in October 2020 was $ 220 million. Due to the use of Uniswap in decentralized finance (DeFi), traders and investors have already used it.

In April 2020, the Uniswap website was [quantified] temporarily after a hacker attempted to use a reentry hack on the exchange failed.

Capital named it along with Maker, Compound, Ankr, Aave and Chainlink as some DeFi "tokens to watch" in 2021.

Uniswap uses a liquidity pool rather than acting as a market maker, which is in line with centralized commerce. It is also different, and its purpose is to create a more efficient market. Individuals and robots, known as "liquidity providers," provide liquidity for exchanges by adding a pair of tokens to smart contracts, and other users can buy and sell currencies. In return, the liquidity provider receives a certain percentage of the transaction over the earned transaction fee. For each transaction, a certain number of tokens will be removed from the pool to obtain a certain number of other tokens, thus changing the price. There is no fee for listing tokens, allowing access to a large number of Ethereum tokens, and users do not need to register. Uniswap code can also be forked to create new exchanges, similar to the way open source cryptocurrencies are forked.