Uniswap is a DeFi project born in November 2018 and received financing of 100,000 dollars, granted by the developers of Ethereum. This project has established itself as one of the most powerful in the DeFi world in a short period.
In addition to being today the first decentralized exchange platform Uniswap to accumulate considerable value. The exciting thing is that only two developers drive this project, and they have not developed any business model based on the project.
In short, there is no internal token that accumulates the value that has been generated in the protocol for the financing of future development improvements.
What is Uniswap Coin?
The Uniswap coin is the UNI which is an Ethereum token that provides the decentralized Uniswap protocol. These tokens are exchanged through liquidity funds that are defined by smart contracts.
This UNI governance token was created to incorporate Uniswap as an autonomous, public-owned infrastructure officially. Well as continuing to protect its indestructible and independent qualities carefully. It also aims to improve the finances of Uniswap users of the Uniswap platform.
Another critical point is that Uniswap can also be traded on the Uniswap Binance exchange platform. Likewise, the daily value of UNI can be viewed on specialist websites such as Uniswap coingecko.
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How Does Uniswap work?
The Uniswap platform works on two points: providing a decentralized exchange service to its users and providing a platform to create an automated AMM liquidity protocol.
In the first case, Uniswap works like any exchange platform used to use on the web. You can request the exchange of one currency for another, all in a completely decentralized way.
The good thing is under Uniswap, the control of the funds will always be in the hands of the users (similar to the 0x protocol). Secondly, the user base is extensive is always a quick response for those exchanges.
However, what is unprecedented in this project is that in the exchange process, there is also a design called Constant Product Market Maker (CPMM). Where liquidity reserves are created with which traders can negotiate effectively.
It is a liquidity pool maintained by users who wish to take that role, encouraged to invest in that pool by the commissions obtained by the simple fact of participating. This made the Uniswap cryptocurrency very interesting for users, as liquidity injection means more profits. It is giving rise to a very fashionable phenomenon today that is liquidity mining.
So much has been the success of this platform that they have had to release versions of it where improvements are evident. In Uniswap v2, users have three options for exchanging tokens. They use an instrument called a router contract, which is a mechanism that links the user’s permits with the relevant exchange contract.
Uniswap v3 offers significant enhancements to Oracle TWAP, making it possible to calculate any recent TWAP within the last nine days with a single call on the chain. This is accomplished by storing an array of cumulative sums rather than just one.
This set of historical Uniswap price accumulators makes it much easier and cheaper to create more advanced oracles. That includes SMA simple moving averages, EMA exponentials, and outlier filtering.
What is the value of Uniswap?
In September 2020, Uniswap took a significant step by creating and granting its own UNI governance tokens to previous protocol users. This made the additional potential for profitability and empowered users to shape their future—this an attractive aspect of decentralized platforms.
The price of the crypto UNI Uniswap today is $ 17.46, with a trading volume in the last 24 hours of USD 473,615,020. It has dropped 10.42% in the lasts 24 hours. If you wonder what is the uni value? Concerning other cryptocurrencies. The answer is that: concerning Bitcoin, its value is 0.0005342 BTC, and concerning Ethereum, its value is 0.008875 ETH.
The Uniswap estimated price prediction for July 2021 is that at the beginning of the month, the average value is $ 18.48. The maximum value is $ 21.65, and the minimum value is $ 13.94. By the end of the month, the value is estimated to be around $ 16.47.