![]() ![]() Since it’s launch there has been substantial interest in it’s UNI to AUD and UNI to EUR price pairs. Uniswap price reached an all-time high (ATH) of $44.97 leading up to the mainnet launch of V3. It features greater capital efficiency for liquidity providers, better execution for traders and enhanced infrastructure. The latest version - Uniswap V3, launched on the mainnet on May 5, 2021. 2, 2018, and introduced new features like ERC-20 pairs, price oracles, flash swaps and more. The mechanism also removes identity requirements for users, and technically anyone can create a liquidity pool for any pair of tokens.Īccording to Uniswap, their governance token (UNI) was created in order to “officially enshrin Uniswap as publicly-owned and self-sustainable infrastructure while continuing to carefully protect its indestructible and autonomous qualities.” Uniswap is not just a decentralized exchange it attempts to solve the issues that platforms such as EtherDelta experienced with liquidity.īy automating the process of market making, the protocol inceventizes activity by limiting risk and reducing costs for all parties. Founder Hayden Adams describes himself as the inventor of the particular implementation of the formula on Uniswap. One of the major AMMs in operation at present, the protocol functions using a formula for automated exchange - X x Y = K. Uniswap exists to create liquidity - and therefore trading and the value that trading provides - for the DeFi sphere. Check out our deep dive on Uniswap DAO and other top DAOs and how their governance systems work. However, it is currently ranked second, behind BitDAO - a DAO focused on funding and investing in emerging crypto projects. Uniswap was the most dominant DEX in 2021 in terms of trading volume, and the top ranked DAO in terms of the amount held in the treasury. Finally, the governance phase has to attract 40M yes-votes for the proposal to be adopted. The next phase is the consensus check, where the proposer has to highlight the core changes and garner at least 50,000 yes-votes. Any UNI holders can submit a proposal, however it must garner up to 25,000 yes-votes before it can be eligible for further deliberation. The Uniswap DAO has over 310,000 members that can vote over the $1.6B treasury, governance and roadmap of the DEX by holding UNI governance tokens. His original idea to focus on Ethereum came after a friend convinced him to begin researching and understanding the protocol in 2017. Buterin even ended up giving the protocol its name - it was originally known as Unipeg.Īdams has also said that the original inspiration for the Uniswap platform came from one of Buterin’s own blog posts. The platform’s creator is Ethereum developer Hayden Adams.Īdams worked in various projects while finalizing Uniswap, and his work was informed directly by Ethereum creator Vitalik Buterin. Uniswap came about as a plan to introduce AMMs on Ethereum to a wider audience. ![]() This added both profitability potential and the ability for users to shape its future - an attractive aspect of decentralized entities. In September 2020, Uniswap went a step further by creating and awarding its own governance token, UNI, to past users of the protocol. Uniswap creates more efficiency by solving liquidity issues with automated solutions, avoiding the problems which plagued the first decentralized exchanges. ![]() Uniswap aims to keep token trading automated and completely open to anyone who holds tokens, while improving the efficiency of trading versus that on traditional exchanges. Uniswap is a popular decentralized trading protocol, known for its role in facilitating automated trading of decentralized finance ( DeFi) tokens.Īn example of an automated market maker ( AMM), Uniswap launched in November 2018, but has gained considerable popularity this year thanks to the DeFi phenomenon and associated surge in token trading. ![]()
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