The live price of Uniswap is - per (UNI / USD) with a current market cap of $3.74B USD. 24-hour trading volume is - USD. UNI to USD price is updated in real-time. Uniswap is -% in the last 24 hours with a circulating supply of 628.69M.
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Uniswap (UNI) is a decentralized protocol built on the Ethereum blockchain network. The protocol is called an "Automated Market Maker (AMM)", a system designed to facilitate the trading of various ERC-20 cryptocurrencies.
The Automated Market Maker (AMM) network is designed to help individuals provide liquidity to decentralized exchanges (DEX) and be rewarded with various annual yields. Uniswap is decentralized and the network is fully peer-to-peer (C2C) in both liquidity and exchange.
Uniswap's native cryptocurrency UNI is an ERC-20 token. The network currently uses a Proof of Stake (PoS) consensus model. UNI can be staked in the main network platform to provide liquidity to the ecosystem in exchange for a specific percentage of returns.
UNI is also used in the local platform's liquidity pool, in conjunction with the ERC-20 cryptocurrency mines and pools that can be accessed therein. At the same time, ETH can be used as transaction fuel fees on the Uniswap platform. UNI prices are updated in real time on Binance.
UNI is an ERC-20 standard digital currency with a circulating supply of approximately 734 million and a maximum issuance supply of 1 billion. The tokens will be distributed over four years as follows:
- Uniswap community members: 60.00% (600,000,000 UNI)
- Current and future employees: 21.266% (212,660,000 UNI)
- Investors: 18.044% (180,440,000 UNI)
- Advisors: 0.69% (6,900,000 UNI)
15% of the UNI supply is immediately available to "historical users and liquidity providers". This is done to reward early community members for their confidence and liquidity in the network.
In addition, 43% of UNI tokens will be held by the Uniswap governance treasury. These 430 million tokens will be distributed through donor grants, community initiatives, liquidity mining, and other projects.
The supply of UNI is inflationary in nature, starting four years after the token was minted, at a rate of 2%. This inflationary model ensures continued participation and contribution to the Uniswap network
Uniswap's current emission structure suggests that the maximum total supply will be reached in September 2024.
Uniswap is a decentralized exchange, a massive liquidity pool created to facilitate traders exchanging tokens. Any compatible cryptocurrency can be added to the DEX and traded without the need for a centralized entity or business to host the exchange.
To achieve this, Uniswap uses smart contracts—a key tool in decentralized finance—to allow traders to swap tokens through automated market makers. Automated market makers like Uniswap are a medium of exchange that gives traders the flexibility to swap cryptocurrencies in liquidity pools on the blockchain through the Uniswap web application. When using Uniswap, users are not restricted by external factors such as market opening hours, nor do they need other traders to place corresponding orders.
In order to create a liquidity pool, liquidity providers need to provide 2 different tokens, which essentially become a shared token trading pair that Uniswap users can trade with. The price of the tokens in a specific liquidity pool is regulated by a mathematical formula that indicates the value of the tokens. Trading with the liquidity pool changes the ratio of the tokens in the pool, which causes the price of each token to change.
Liquidity providers are incentivized to provide tokens to Uniswap liquidity pools through trading fees. They can receive a percentage of each trade that exchanges tokens with the pool.
The Uniswap DApp facilitates the creation of a wide variety of liquidity pools that traders can use to exchange tokens. Any compatible token can be added to Uniswap and traded without the need for a centralized entity or enterprise to host the market.
NFTs on Uniswap
One of the most exciting and discussed developments at Uniswap is the integration of a non-functional language aggregator into the platform. In June 2022, Uniswap Labs announced that they had successfully acquired Genie and would apply it to the Uniswap website.
Genie is an NFT aggregator. This means that potential NFT buyers can use Genie to organize and purchase NFTs on any market in one place. This simplifies the process of collecting NFTs and meets the need to search a large number of different markets for the best deals.
This is an important step in the development of the project, making both DeFi users and NFT collectors very excited about Uniswap.
Trading Plugin
In April 2022, Uniswap Development released and deployed the Swap Widget, a simple exchange function that developers can easily integrate into their applications. The Swap Widget allows users to trade tokens from a third-party site, rather than navigating to the Uniswap web app.
The Swap Widget can be added to a compatible DAPP (decentralized application) with just one line of code, and is already being used by popular sites like OpenSea.
The development of the Uniswap protocol began in 2017 when founder Hayden Adams was fired from his position as a mechanical engineer at Siemens. Adams sought advice from his good friend Karl Floersch, who suggested that he learn more about Ethereum and smart contracts.
In an effort to improve his coding skills and learn more about blockchain technology, Adams decided to start working on a project described by Ethereum founder Vitalik Buterin on the popular online forum Reddit.
Adams was completely mesmerized by the belief driving the Ethereum project. The mission of decentralization and permissioned protocols is what drove him to continue developing the Uniswap platform, even though he was unemployed at the time.
In April 2018, Adams was introduced to Vitalik Buterin at an economic conference in Seoul. Buterin read Adam’s source code and suggested that he apply for a grant from the Ethereum Foundation to continue developing Uniswap in Vyper, another coding language.
After several months of continuous development, the Uniswap decentralized exchange was finally deployed on the Ethereum mainnet in November 2018. However, the team did not stop there and they continue to update the platform to this day. One example of this is the optional transaction fee layer in Uniswap V3. This allows liquidity providers to choose how much transaction fees traders need to pay when they trade.
Today, Uniswap has the highest TVL (Total Value Locked) of all decentralized exchanges on Ethereum ——the largest Layer 1 smart contract blockchain in the digital currency industry.
As a pioneer in the field, Uniswap has attracted great interest from some well-known institutional investors. Heavyweight investors such as Delphi Digital, Pantera Capital, a16z Crypto and Blockchain Capital have supported and funded Uniswap. These experienced funds have assisted in the development of the program and have made a significant contribution to its current success.
Uniswap is a decentralized exchange originally developed on the Ethereum blockchain. Users can connect to the Uniswap web application and freely trade any ERC-20 token, provided there is sufficient liquidity. Uniswap is now available on Optimism, Arbitrum, and Polygon layer 2 blockchains (LAYER-2).
Uniswap was founded by Hayden Adams, a former mechanical engineer. After losing his position at Siemens, Adams' friend Karl Floersch suggested that he become a blockchain developer. Adams was inspired to develop the Uniswap project by a blog post written by Vitalik Buterin about automated market makers.
UNI is the native cryptocurrency used by the Uniswap decentralized trading platform. Some people like to use UNI as a base cryptocurrency asset to make borderless payments around the world through the Ethereum network. In addition, UNI can be used as a pledge asset alone in Uniswap liquidity operations, or combined with other tokens to form a liquidity pool (LP) token. These unique assets become the necessary currency to achieve paired asset swaps.
The main feature of Uniswap is its decentralized automated market maker system, which allows users to trade without relying on a central order book. Liquidity providers only need to inject funds into the liquidity pool and complete the transaction through smart contracts. In this way, anyone can become a liquidity provider and share the transaction fees, thereby improving liquidity and transparency. In addition, as an open source protocol, Uniswap is governed by its user community instead of relying entirely on a single entity for decision-making, thus achieving democracy.
Uniswap implements an automated market maker system. The system relies on individuals providing liquidity in exchange for a predetermined ratio of a dedicated currency. Liquidity pool tokens are created and staked on the backend of the platform to enable seamless exchange between adjacent assets on the Ethereum network.
The maximum total supply of UNI tokens is 1 billion, and there are currently 577,501,036 in active circulation.
Users can buy UNI directly from Binance using a debit or credit card, and can also use UNI to trade other cryptocurrencies on the Binance exchange.
The Uniswap to other currencies exchange rate?
