Uniswap: All You Need to Know

Uniswap: All You Need to Know

Uniswap is a decentralized exchange protocol built on the Ethereum network. Uniswap ranks 33rd presently on Coinmarketcap.

Uniswap’s governance token, UNI, was debuted in the late hours of Wednesday, September 16th. Just 2 days after it was launched, UNI doubled its price as the project airdropped a minimum of 400 UNI almost $2000 to anyone who had used Uniswap before September.

In barely four days, UNI had gained 428.9% from when it traded $1.03 on September 17th.

UNI is also dubbed to have the quickest listing among the top 3 exchanges as it was listed within 5 hours of launch on Binance, Coinbase Pro, and FTX. This action caused the UNI price to surge to a high of $8.60 but was subsequently rejected as it fell as a result.
Uniswap Transactions and Price
Uniswap has no book or any centralized platform for executing trades. Uniswap allows users to trade without a middle man or third party, with a high degree of decentralization and censorship-resistance. All fees go to market liquidity facilitators, and none of the founding partners get a cut from the transactions that occur through the protocol.

Currently, the transaction fee paid for these market liquidity providers is 0.3% per successful transaction. That said, these are added to the liquidity pool, but these market liquidity facilitators can redeem them at any time. The fees are distributed according to each liquidity provider’s share of the pool.

Uniswap is presently trading at $4.59 with a 24-hour trading volume of $767,789,000. UNI price is up 17.1% in the last 24 hours. It has a circulating supply of 130 Million coins and a max supply of 1 Billion coins. Binance is the current most active market trading it.

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