Did you know that Uniswap leads the decentralized exchange (DEX) volume game with more than 40% of the market share? There’s a lot of information being bandied about on the various cryptocurrencies and DEX out there.
If you are confused about what the Uniswap exchange is, then we have got you covered. Keep reading to learn all about what is Uniswap.
Uniswap Guide 101
A lot of crypto trading, due to it going mainstream, happens on centralized exchanges like Binance, Bitfinex, and Giottus (an Indian exchange). Since these centralized exchanges are much more careful about compliance and other norms, it might be hard for new projects and coins to get off the ground.
That’s where decentralized exchanges (DEX) like Uniswap come into play. Not only do users use DEX to launch new and novel crypto projects that the centralized exchange might have rejected, but they also use it to store funds on their wallets, rather than trusting an exchange to do so.
Uniswap was introduced in 2018 on the Ethereum blockchain. Uniswap relies on Automated Market Makers (AMM) that allows users to ‘swap’ tokens based on pairs, thus, facilitating trading.
Uniswap also has a native token, UNI, which was launched in September 2020. Even though it hasn’t quite recovered from the May 2021 cryptocurrency crash, it’s at $19 at the time this article was written (far below $44 all-time high). If you want current Uniswap price updates, then click the link.
Uniswap Exchange Tips
Since Uniswap is open code, this renders a huge advantage to anyone who wishes to create their own DEX based on Uniswap’s code. That’s one reason why Uniswap has attracted so many new users.
DEX are also considered to be far safer than centralized exchanges. They also allow swaps for all kinds of token pairs.
Finally, token listings are free, which encourages all new and old crypto projects to get listed on the exchange, thus, increasing Uniswap’s popularity.
If you are looking for a market to list your new project in, Uniswap is for you, as it’s a market that will only mature in the future. Of course, you should do your own research to gauge if Uniswap is right for your project, but as so many users have given it the nod, it seems Uniswap is here to stay and to help new crypto users and coins.
There’s Always Something New to Learn About Cryptocurrency
Now that you are more clued into what Uniswap exchange is, it’s time for you to get in on the action. Cryptocurrency still has a long way to go as it’s still a fledgling market with lots more potential.
If you are thinking about starting a new crypto project, think about using Uniswap for all your DEX needs.
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