Review on Uniswap (V2) by Stephen Toluwani
A better improvement to Ethereum will help Uniswap in the gas fees it guzzles
The Uniswap exchange platform is one of the biggest decentralized exchange positioned specifically for the trading of Ethereum and it's ERC compliant tokens. With volumes once counting in millions, the exchange has become a hub for trading crypto assets. I made use of this exchange to trade my Cezo ERC tokens which were not supported on other exchange then and didn't really get a feeling of satisfaction because of the gas fees uniswap guzzles as trading fees for liquidity providers. This fees account up to 10s of dollars and reduced drastically, profits I would have made trading my tokens on a centralized exchange. This has so far been my only arbitrary reason not to use the exchange but other disadvantages of using uniswap exist which includes token clones whereby users remake a token and newbiews trade it unknowingly causing losses for themselves. It's decentralization allows for trading in huge volumes, stolen crypto assets. In the advantages I received from using this exchange, I enjoy a high autonomous level of trading, and it's UI which is a significant improvement to it's former shows signs that Uniswap is still working hard to providing the best to users. The exchange has it's own governance token UNI which I hope might find a way to scrap out the ability of users to make token clones. The tokens on uniswap actually has a good volumes and I wasn't stranded while trading all of my tokens, but the gas fees were to high which although can't be appropriated as a blame to the exchange but Ethereum Network as a whole. I won't be making is of this exchange until something is done in regards Ethereum Network to help cut gas fees which will surely make it easier and better for me to exchange my tokens with. It can only be recommended to big time traders but for those with low value assets, it's really not a profitable way to exchange ones coin
Pros
- Uniswap is a decentralized exchange and that means users will not have to put their fund into an exchange to trade
- Uniswap exchange supports a huge variety of Ethereum tokens with good liquidity paired against such
- Easy to use Interface. A more upgraded version to it's earlier predecessor
Cons
- Transaction fees for Gas used in exchange is way too high
- Many token clones can be made on uniswap and losses can be generated
- Being decentralized means being autonomous, this gives hackers a chance to sell stolen assets
