- Category: Gnosis Chain Ecosystem
- Coin Launched: September, 2020
- Resources: White Paper
- Official Website: Uniswap
- Reddit: Uniswap
UNISWAP History / Information / Buying / Staking
Uniswap was created by Hayden Adams. Its initial version was published to the Ethereum mainnet on November 2, 2018. The protocol was launched on the last day of the Devcon 4 conference and it quickly gained a lot of traction, resulting in an initial seed investment to fund work on the second version. Uniswap V2 was launched in May 2020, and in September the new crypto token called UNI was launched.
HOW UNISWAP WORKS
Uniswap is open-source software licensed under the GPL. Each Uniswap smart contract, or pair, manages a liquidity pool made up of reserves of two ERC-20 tokens. Anyone can become a liquidity provider (LP) for a pool by depositing an equivalent value of each underlying token in return for pool tokens.
BENEFITS OF USING UNISWAP
SWAP ETHEREUM BASED TOKENS
You can quickly trade any digital assets compatible with Ethereum (often referred to as "ERC-20" assets).
USER FRIENDLY DESIGN
The Uniswap app is very user-friendly, so it doesn't take long to learn how it works. It's easy to connect a crypto wallet, swap one crypto for another, or deposit your crypto in a liquidity pool.
Whether you want to trade crypto or earn interest as a liquidity provider, you likely won't have any problems on Uniswap.
NO REGISTRATION REQUIRED
You don't need to provide personal information or create an account. All you do is connect your crypto wallet, and you're ready to trade or stake crypto.
CAN YOU STAKE UNISWAP
Staking Uniswap is unlike any other form of cryptocurrency staking as you can make a passive income from your ERC-20 tokens by placing them in liquidity pools with Uniswap.
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