Uniswap UNI Price

Uniswap History

• In November 2018, Uniswap was founded by a young but talented designer, Hayden Adam, who was relatively new to Solidity. After receiving a $100,000 grant from the Etherium Foundation, Hayden and his small team of people were able to create a engaging DEX that has gained recognition since its launch.
• In April 2019, Uniswap closed a $1 million seed round from Paradigm.
• In May 2020, Uniswap released Uniswap V2.
• In May 5, 2021 Uniswap introduced Uniswap V3 to the public.

Uniswap Technologies

Technically, the Uniswap operating scheme is as follows:

• The exchange combines identical tokens in a Uniswap pool which is a pool of coins that can be represented in the form of storage cells. They are needed to ensure that Uniswap users have the opportunity to exchange one coin for another at any time.
• During the transactions, the desired amount of assets is taken from the "safe deposit box" for the trader. The system conducts the operation with the help of smart contracts. This operating scheme allows traders to exchange cryptocurrencies directly from each other, bypassing intermediaries.

Main Features of Uniswap

Uniswap has 2 main features, known as Swap and Pool.

1. Swap allows users to exchange Ethereum (ETH) and various ERC-20 tokens. For example, you can exchange Quasacoins (QUA) to DAI tokens just by going to the SWAP of QUA/DAI token pairs.
2. Pool allows users to make profits by providing liquidity. This is possible through depositing tokens into smart contracts in exchange for pool tokens.

Compared to other DEX competitors, Uniswap has several advantages for small traders. In particular, Uniswap does not pay listing fees, does not require its own tokens, and has one of the cheapest gas prices of any DEX.

Uniswap V2 and V3

In 2021 Uniswap Labs released the third version of the protocol, updating the DApp interface and adding new features. Things have changed in the third version of the Uniswap protocol:

• Less chance of order slippage
• V3 is more decentralized and secure than V2
• Concentrated liquidity
• Active liquidity
• Range limit orders
• Non-interchangeable liquidity
• Flexible rates
• TWAP advanced price oracles

Earnings from Uniswap

There are two different methods that you can use to make money on Uniswap. The first is trading: its essence is to conduct trading operations with digital assets in order to make profits from the difference in its exchange rate. In other words, you need to buy cheaper tokens and sell them at a higher price.

An alternative way to earn money from Uniswap is also available. To start making money, you can become a liquidity provider who will fill the pools you need to make transactions on the platform.

To do this, you will need to lock in your assets for the needs of the project. In return, the system will pay interest received from the commissions of operations on Uniswap.

The opportunity to make money from blocking tokens was one of the key elements thanks to which the Uniswap team was able to attract enough liquidity to the platform to enable fast transactions.

Pros and Cons of Uniswap

Like any product, Uniswap has a number of advantages and disadvantages, which you can see below.

Summary

The idea of Uniswap is very original and original in its own way, so the number of users of the system is only increasing. Due to the fact that the system does not require any identification of one's identity, many people prefer to use this platform.

Uniswap service not only allows you to exchange different tokens, allowing you to gradually accumulate the necessary cryptocurrency in your wallet, but also gives you the opportunity to earn money. Judging by the existing information, after the last update the system has become much more secure and, more importantly, will help to earn even more.