What is UniSwap (UNI)?

UniSwap is a decentralised Ethereum blockchain-based cryptocurrency exchange. Its AMM system makes it a well-liked substitute for centralised exchanges because it enables instant trades without middlemen. For users who value privacy, security, and decentralisation in their trading activities, UniSwap is a cryptocurrency worth taking into consideration thanks to its rewards programme and expanding adoption.

The History of UniSwap

A team of developers under the direction of Hayden Adams released UniSwap in 2018. Its protocol is built on an automated market maker (AMM) system, which dispenses with traditional order books and market makers to let users trade cryptocurrencies. Due to its distinctive strategy for decentralised trading, UniSwap is a well-liked substitute for centralised exchanges.

The Use Case of UniSwap

The core use case for UniSwap is to offer a decentralised trading platform for cryptocurrencies. Instant trades are possible thanks to its AMM system, which eliminates the need for middlemen or centralised authorities. This makes it perfect for users that value decentralisation, privacy, and security in their trading activities.

In addition to its trading features, UniSwap gives consumers the chance to profit through the provision of liquidity. Users can receive a share of the trading commisions generated by the platform by adding cryptocurrencies to the liquidity pools of UniSwap.