What is Uniswap?
Uniswap is a decentralized trading protocol, famous for facilitating the automated trading of decentralized finance (DeFi) tokens. Launched in November 2018, Uniswap is an automatic market maker (AMM) that has gained a significant amount of popularity this year due to the DeFi phenomenon and surge in token trading. The objective of Uniswap is to automate token trading and open to anybody who holds tokens while making trading more efficient compared to traditional exchanges.
Uniswap allows for extra efficiency by applying automated solutions to liquidity issues, thus avoiding the problems that hassled the first decentralized exchanges. Uniswap went a step further in September 2020 by forming and awarding its governance token (UNI) to former protocol users. This added profitability potential and the ability for users to shape its future, a desirable component in decentralized entities.
Uniswap Key Points
The goal of Uniswap is to create liquidity, and thus trading and the value that trading offers for the DeFi sphere. The protocol remains one of the most prominent AMMS currently operating and functions on a formula for automated exchange. Uniswap is a decentralized exchange and strives to solve the problems that platforms like EtherDelta experienced with liquidity. The protocol can incentivize activity by automating the process of market making, thus limiting risks and lowering costs for all parties involved. The mechanism also eliminates user identity requirements; technically speaking, anybody can form a liquidity pool for any tokens. The Uniswap governance token (UNI) was formed to officially establish Uniswap as a self-sustainable and publicly-owned infrastructure while prioritizing the security of its indestructible and autonomous qualities.
There are 1 billion units of UNI total, which will become available over four years. After the four-year distribution plan, Uniswap will institute a “perpetual inflation rate” of 2% to incentivize network participation. Currently, token distribution consists of: 60% to Uniswapcommunity members, 21.5% to team members, 17.8% to investors, and 0.69% to advisors. Out of the majority set to be distributed to users, 15% can be claimed by previous users of Uniswap.
What are Uniswap Frequenty Asked Questions?
Where does Uniswap (UNI) rank among in terms of popularity? How relevant is it compared to competitors?
In terms of popularity, Uniswap currently ranks in position 13 out of the thousands of cryptocurrencies. It is also important to consider Uniswap‘s market cap – in general, the higher the market cap of a cryptocurrency, the more dominant it is considered to be in the market. Uniswap has a market cap of $ 4,137,763,994, which compares to Bitcoin (the most popular cryptocurrency by several metrics) with a market cap of $ 580,282,138,516, Litecoin at $ 8,424,850,670, Ethereum at $ 146,724,163,963, Tether at $ 25,422,039,508, and XRP at $ 11,664,193,282.
What is the price of Uniswap (UNI) today (updated in realtime)?
The current price of Uniswap is $ 14.32 in USD. (The price in Euros is 11,79 €; and the price in Bitcoin is Ƀ 0.00045900 BTC.)
What is Uniswap‘s (UNI) market supply?
The total available supply of Uniswap is 284,565,920 UNI. The total supply of Uniswap is 1,000,000,000 UNI.
What is the 24 hour volume for Uniswap (UNI)?
The 24 hour volume for Uniswap is $ 1,996,392,389.
How has Uniswap (UNI) performed recently?
Uniswap‘s price has increased in the last 24 hours by 5.17%. This compares with a seven day change of 58.54%. The trading volume over the last 24 hours was $ 1,996,392,389. Trading volume indicates how many units of a currency are being bought and sold on specific exchanges. High trading volumes are likely to drive more on-chain activity, for example when people deposit and withdraw funds. It can be a good indicator of the general interest in the cryptocurrency.
What is Uniswap (UNI) official website?
Links to Uniswap‘s official website, social accounts, blockchain explorer, and Github repository if applicable.
Has Uniswap (UNI) performed well historically?
Here is a chart showing how Uniswap has performed historically.
Where Can I Buy Uniswap (UNI)?
Here is a breakdown of the current market prices from top cryptocurrency exchanges.
Charts & Market Data
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