What is Uniswap?
Uniswap is an innovative, decentralized exchange protocol built on Ethereum. It allows anyone with an Ethereum wallet to exchange tokens without the involvement of any central party. Uniswap is also the name of the company that initially built the Uniswap protocol. The protocol uses smart contracts to facilitate trades on the platform.
Unlike most exchanges, Uniswap uses liquidity pools as reserves for trades to be executed against. Users can submit their funds to be used in these pools and earn transaction fees for doing so. This model negates the need for buyers to be linked sellers by an Aggregated Match Maker (i.e. a third party).
UNI is the native token for Uniswap and can be used to trade for other cryptocurrencies. Also, holders of UNI have opportunities to vote on the governance of the platform, making it truly decentralized.
Real World Example
Check out our extensive guide to using Uniswap and all it's related features here.
Anybody can submit a token to be traded on Uniswap. Although this makes getting involved in the crypto and defi spaces more accessible, it also opens the door to a lot of potential scams. Remember: DYOR!! (Do Your Own Research) before purchasing any type of cryptocurrency.
Click on the button below, to visit the Uniswap website:
Click on the button below, to buy Uniswap today: