Uniswap (UNI): What is it?
Uniswap UNI by Crypto Nation – August 10, 2021
By Crypto Nation – August 10, 2021
Sommaire de la fiche crypto de Uniswap :
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Uniswap Fundamental data
- Name: Uniswap
- Symbol: UNI
- Type: DEX, DeFi, DAO, AMM, Yield Farming, Governance
- Consensus: Proof of Concept (PoC)
- Year of creation: 2018
- Founder: Hayden Adams
- Official website: uniswap.org
- Mainnet: No
- Whitepaper: uniswap.org/whitepaper-v3.pdf
- Code: github.com/Uniswap
- Twitter: @Uniswap
Uniswap market data
Below are the basic market informations regarding this cryptocurrency:
- Price: It is expressed in dollars ($). There is also its percentage change (%) over the last 24 hours.
- Rank: Ranking of this cryptocurrency among all those referenced on CoinMarketCap. This is done according to the market cap.
- Market cap: Market capitalization represents the total dollar ($) value of all coins in circulation.
- Volume: It represents the total dollar ($) amount of the cryptocurrency in question traded over the last 24 hours.
What is the goal of the Uniswap project?
Uniswap is a decentralized exchange platform (DEX) allowing its users to exchange tokens on the Ethereum blockchain, without any trusted third party.
The platform includes liquidity pools making it possible to swap between various cryptocurrencies. Anyone is able to provide liquidity in these pools.
Origin of the project
Uniswap V1 appeared in November 2018. Its creator, Hayden Adams, assures that it was initially a study project, before the Ethereum foundation finances the project, allowing its development.
The UNI token was launched in September 2020.
The protocol was updated in May 2020 with V2, followed a year later by Uniswap V3 on May 5, 2021.
What is its use?
UNI is the ERC-20 token dedicated to Uniswap, it is primarily used for the governance of this ecosystem.
Its owners can take part in the decisions and management of Uniswap.
Management of the economy (as of 08/10/2021)
1 billion UNI tokens have been created and that will not change. The tokens are distributed over a period of 4 years, after which a perpetual inflation rate of 2% will be applied. Currently, around 610 million of them are in circulation.
The distribution of tokens at launch was as follows:
- 60% of the tokens were intended for community members and Uniswap users.
- 21.5% went to team members.
- 18% to investors.
- Less than 1% to advisers.
Of the 60% intended for users, 15% could be claimed for free by those who had already used Uniswap before September 1, 2020. This Airdrop of 400 UNI was one of the most generous in history.
Diagram of the evolution of the cryptoactive
Overall, all cryptocurrency platforms offer UNI.
To name two reputable platforms, you can turn with confidence to Binance or Crypto.com.
Or, of course, directly on the Uniswap DEX!
Where to store your cryptocurrency
If you prefer to take your cryptocurrencies out of centralized exchanges, you can store your UNIs through various solutions:
- Trust Wallet, bought by Binance, it has become the benchmark mobile wallet.
- Ledger, very secure wallet hardwares, the best known being the Ledger Nano S.
- MetaMask, the decentralized wallet par excellence.
More details on the different types of cryptocurrency wallets on our dedicated page, accessible by clicking here.
Our opinion on this project
Uniswap is one of the essential pioneers of decentralized finance. The project, funded by the Ethereum Foundation, creates the very first decentralized exchange platform, making it possible to remove trusted third parties.
This is not nothing, it is even a gigantic advance towards the financial world of tomorrow.
As everywhere, the competition has arrived, based on the Uniswap model and it hits hard! Especially on the side of the Binance Smart Chain (BSC) with PancakeSwap, which almost dethroned the United King. But this one remains far ahead on the Ethereum blockchain.
This platform is a must have for any fan of the world of decentralized finance, thanks to whom the revolution is underway.