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Uniswap - UNI Token

Uniswap – What is it?

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Uniswap is the largest decentralized exchange (or DEX) operating on the Ethereum blockchain. It allows users anywhere in the world to trade crypto without an intermediary. UNI, the governance token that allows users to vote on key protocol changes, is the fourth largest cryptocurrency by market cap on Coinbase as of April 2021 — with a total value of more than $18 billion.

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Uniswap was one of the first decentralized finance (or DeFi) applications to gain significant traction on Ethereum — launching in November 2018. Since then, numerous other decentralized exchanges have launched (including Curve, SushiSwap, and Balancer), but Uniswap is currently the most popular by a significant margin. As of April 2021, Uniswap had processed over $10 billion in weekly trading volume.

Uniswap pioneered the Automated Market Maker model, in which users supply Ethereum tokens to Uniswap “liquidity pools” and algorithms set market prices (as opposed to order books, which match bids and asks on a centralized exchange like Coinbase) based on supply and demand.

By supplying tokens to Uniswap liquidity pools, users can earn rewards while enabling peer-to-peer trading. Anyone, anywhere, can supply tokens to liquidity pools, trade tokens, or even create and list their own tokens (using Ethereum’s ERC-20 protocol). There are currently hundreds of tokens available on Uniswap, and some of the most popular trading pairs are stablecoins like USDC and Wrapped Bitcoin (WBTC).

Some of the potential advantages of decentralized exchanges like Uniswap include:

Safe: Funds are never transferred to any third party or generally subject to counterparty risk (i.e. trusting your assets with a custodian) because both parties are trading directly from their own wallets.

Global and permissionless: There is no concept of borders, or restrictions on who can trade. Anyone with a smartphone and an internet connection can participate.

Ease of use and pseudonymous: No account signup or personal details are required.

How to use Uniswap
In order to use Uniswap, all you need is an Ethereum wallet, such as Coinbase Wallet, and a bit of ETH (which you’ll need to pay for gas fees). Using the app browser built into Coinbase Wallet’s mobile application or its desktop browser extension, you can access app.uniswap.org to start swapping tokens or supplying liquidity.

One issue users of all Ethereum-based apps including Uniswap face are transaction fees (also called gas) that can vary widely in price and can make it expensive to use the network. Multiple solutions to this issue are in the works, from the long-planned transition to the ETH2 blockchain (scheduled for sometime in 2022) to the nearer-term rollout of a “Layer 2” scaling solution called Optimism later this year. Uniswap developers are confident that Optimism will allow for significantly cheaper Uniswap transactions.

In early May 2021, Uniswap v3 launched with the goal of making transactions faster and cheaper.

What is UNI?
After years of successful operation and on its path to complete decentralization, Uniswap introduced the UNI token to enable community ownership over the protocol, allowing stakeholders to vote on key protocol changes and development initiatives. When Uniswap released the token in September 2020, it used a unique form of distribution in which it “airdropped” 400 UNI tokens to each Ethereum address that had ever used the protocol. Over 250,000 Ethereum addresses received the airdrop, which was worth nearly $1,400 at the time. Airdrops have since become a popular way for DeFi apps to reward longtime users – Uniswap has said it plans to distribute a total of 1 billion UNI over four years.

Why are there so many DEXs with “Swap” in the name?
It’s because Uniswap, like most crypto protocols, is open source, meaning anyone can both see exactly how it works and adapt the code to create a competitor.

In recent years, a large number of DEXs adapted from Uniswap’s code have launched, including food-named competitors like SushiSwap and PancakeSwap.

What is UNI?
After years of successful operation and on its path to complete decentralization, Uniswap introduced the UNI token to enable community ownership over the protocol, allowing stakeholders to vote on key protocol changes and development initiatives. When Uniswap released the token in September 2020, it used a unique form of distribution in which it “airdropped” 400 UNI tokens to each Ethereum address that had ever used the protocol. Over 250,000 Ethereum addresses received the airdrop, which was worth nearly $1,400 at the time. Airdrops have since become a popular way for DeFi apps to reward longtime users – Uniswap has said it plans to distribute a total of 1 billion UNI over four years.

In this video We’ll be explaining what UniSawp is, how it works, and why it exists

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24 Comments

  1. Before watching the video I didn't know what is Uniswap. Now I know and it seems very useful to me in the world

    of cryptocurrencies. Thanks for the video, I learned something

  2. NICE VIDEO very informative . Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met. They typically are used to automate the execution of an agreement so that all participants can be immediately certain of the outcome, without an intermediary's involvement or time loss. upload more video thank you

  3. Very good to know that there are interesting contents on the internet like ''Uniswap – What is it?''

  4. Excellent and educational video. It's very clear and easy to understand your explanation about Uniswap. I literally learned a lot from you, thank you.

  5. Amazing content for cryptos!!! Great video about Uniswap, incredible explanation about this exchange and all the advantages that it offers us, thank you and use it, success to all with your cryptos.

  6. great explanation as always, perfect to get to know about cryptos in general

  7. wonderful explain about Uniswap ! thank you for this helpful information very important and detailed 10/10

  8. Gracias por compartir este vídeo de Uniswap sobre el mayor intercambio de la cadena de Etherium de como poder intercambiar criptomonedas sin intermediarios

  9. Your videos are unique! Everything is clear and understandable, so inspiring. I would like to say thanks for this video! I assure you that I understood everything about the topic a lot.

  10. they should teach this at school but they dont because they dont care about our finances , they need us as workers to work for them and thats it , great channel keep teaching the youth great job

  11. Esto es realmente interesante una vez que entiendes bien sobre Uniswap. Excelente información.

  12. The video is great, I have no doubts about uniswap anymore and it works really well.

  13. Brilliant explanation about uniswap. The video is very informative and well explained. Thank you for making and sharing this video it is a big help to us.

  14. This video is full of excellent information. Everything discussed in this video is very clear and very well explained for easy and better understanding specially in crypto trading. Thanks for taking your time to share such an amazing video with us .

  15. Thank you very much for sharing your knowledge and experience with us and helping us to obtain a better learning of the subject; valuable contribution friend

  16. Great content! I personally interested in this kind of video. Thank you!

  17. Indeed, crypto smart contracts are really helpful for its users. It's practical and very convenient. You only need to check which one are the best. I think, Uniswap is one of the good options for trading 🙂

  18. Thanks for sharing this video about Uniswap, i'm new to the crypto and this is the first time i heard about Uniswap and with your video i gained a lot learning about it.

  19. Was having a hard time comprehending NFTs, but this video totally explained everything. Thank you for this video it such a great help.

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