October 29, 2020

What is Uniswap (UNI)? – The Revolutionary DeFi Project

Many users have heard about Uniswap and the UNI digital asset. However, not all of them know what is Uniswap. This is why we, at AltSignals, have decided to create a guide about what is Uniswap (UNI), how it works, which are its main features and how you can start enjoying its solutions. 

Many users have heard about Uniswap and the UNI digital asset. However, not all of them know what is Uniswap. This is why we, at AltSignals, have decided to create a guide about what is Uniswap (UNI), how it works, which are its main features and how you can start enjoying its solutions. 

In the next sections, we will provide you with all the information you should have about What is Uniswap and how you can start using their services in order to gain exposure to the revolutionary DeFi market. 

Disclaimer: this post should not be considered investment advice. This is only for educational purposes only. Never invest more than what you are able to lose and always ask for information to your professional financial advisors. We are not financial advisors.

Read More: Top 5 Bitcoin Investing Trading Channels on Telegram

What is Uniswap (UNI)?

Uniswap is a project that was released to the market that allows users to swap tokens based rather than exchanging them through a centralized cryptocurrency exchange. By using a set of smart contracts on top of the Ethereum (ETH) network, Uniswap users can perform trades of tokens without having to trust their funds to a third party. 

The project has been expanding in recent months as it attracted a larger number of users that wanted to have exposure to digital assets. 

This decentralized protocol was launched back in 2018 and it works as an automated market maker for traders. Any token creator can add their token to this platform and start offering it to users from all over the world. In just a few steps, a token creator can have their tokens listed and available for trading with a large user base. 

Cryptocurrency exchanges have been always adding digital assets to their platforms and in many cases, these exchanges were receiving payments from token creators in order to get their coins listed. Now, this can be done 100% free using the Uniswap platform and in just a few steps. 

The project is also able to create liquidity for DeFi projects that want to get exposure to the cryptocurrency market. While other decentralized exchanges have issues with liquidity, Uniswap automates the process of handling digital assets and incentivizes activity, limiting risk and also reducing the costs for every single individual and entity involved in the exchange of digital assets. 

Users and companies are free to create liquidity pools for whichever token they want to. Thus, it is very useful for a large number of smaller projects that are not able to get listed in larger and centralized exchanges. 

The UNI Token

Uniswap decided to reward users with the UNI token, a governance token that can be used by users in the Uniswap protocol, vote for new initiatives and also speculate with its price. There was a large demand for the virtual currency which skyrocketed from $2.56 to $6.69 in just a few days. 

At the time of writing, UNI has a price of around $3.55 and a market valuation of $344 million. In this way, UNI is the 43rd largest cryptocurrency in the world in terms of market valuation. This token will allow the project to continue moving forward and show the crypto community the founders are focused on the future of this platform. 

The token has already been listed in several exchanges and a large number of users is now able to get access to it. Thus, individuals that believe in the future of this project can already acquire the UNI token and start holding it waiting for its price to grow. 

It is worth mentioning that when the digital currency was airdropped to users that were handling their coins using Uniswap, the community received it very happily considered it helped many individuals in poor countries and developing countries where the $400 / $600 airdropped were worth more than a median salary in these regions. 

Conclusion – What is Uniswap (UNI)?

The Uniswap protocol has been growing in the last months in order to continue expanding the DeFi market. The project has been working on a daily basis in order to allow users exchange (swap) their coins in a fast, easy and reliable way without having to trust a third party. 

In addition to it, users were also able to enjoy the airdrop of the UNI token that helped a large number of individuals from all over the world. Nowadays, the UNI token can be acquired in a large number of exchanges. 

AltSignals Team

Proficient authors guiding you with transparency, integrity and education through the finance international markets

The AltSignals writing team consists of experts dedicated to the world of finance and technology, with a particular focus on cryptocurrencies and forex. Our writers bring a broad range of knowledge and experience, cultivated through years of arduous and direct involvement in financial markets, as well as intense technological collaboration.

Editorial approach

At AltSignals, we believe that transparency and education are the key to empowering our readers. Therefore, our content is meticulously researched to ensure its accuracy and thoroughness. Each of our articles is created with the aim of providing educational insights and in-depth analysis, helping both beginners and experienced traders.

Commitment to quality

Integrity is certainly the foundation of our editorial process. The team follows rigorous journalistic standards with careful review, all to ensure that each publication is meticulously researched and exceeds our readers’ expectations.

Our mission is to provide analysis that informs as well as guides users and enthusiasts through the complexities of the cryptocurrency and forex markets. In line with our motto of “quality over quantity”, we guarantee that only the highest quality trading signals are published.

In addition to our commitment, which extends beyond the simple transmission of useful information, our in-depth analysis focuses on profitability and effectiveness squarely, avoiding the common industry habit of prioritizing profit over accuracy. Our traders are strategic experts who offer personalized help to those seeking worthwhile portfolio management tactics.

Diverse knowledge

Our authors are proficient in a variety of topics across the financial spectrum, from emerging trends in blockchain to the nuances of forex trading. This diverse range of knowledge allows the team to cover several topics, ensuring our content is always comprehensive and deeply specialized.

Interactivity and support

We understand that the world of trading can be complex for many. Therefore, alongside producing informative articles, our team is also committed to interacting with the community. Through comment sections, forums and direct support, we encourage our readers to seek clarification and sharpen their understanding, promoting an environment of continuous learning.

Future vision

Looking to the future, the AltSignals writing team is imbued with a vision that transcends regular publishing, and continues to dedicate itself to discovering and reporting on the latest innovations and trends available in the market. We are constantly seeking to improve our skills and expand our knowledge, with the ultimate goal of being a reliable and respected source in digital financial journalism.

There is great commitment to discovering and reporting not only the latest news and trends in the market, but also to equipping our readers with the tools they need to navigate volatile markets with confidence. We firmly believe that, with the support of an appropriate platform coupled with accurate guidance, our readers and traders can turn market volatility into a competitive advantage.

Join us

Follow AltSignals to stay up to date with the latest developments in the world of finance and technology, and explore how our insights can help improve your trading strategies. The AltSignals team is here to guide you through the exciting, dynamic and challenging world of financial markets.

Latest posts author AltSignals Team

Latest posts from the category Cryptocurrency