Uniswap is a decentralized cryptocurrency exchange platform (or DEX) on the Ethereum blockchain. Launched in 2018 by Hayden Adams, Uniswap has gone on to become the leading DEX for crypto exchange thanks to the surge in DeFi popularity and its essential role in the DeFi market— providing liquidity and facilitating trade to Ethereum tokens.
Uniswap uses an automated market maker model(as opposed to the order book model used by centralized exchanges) for crypto exchange. By creating liquidity pools of every Ethereum token, Uniswap ensures that anyone can swap their token for another (mostly Ether or ETH) at any time. Token prices are calculated using a demand and supply-based algorithm developed by the founder.
Using two types of smart contracts—factory contracts and exchange contracts— Uniswap allows anyone to list a token and create a liquidity pool so they can exchange it for Ethereum at any time. Essentially, anyone with a smartphone and internet can list an ERC-20 token on the DEX or swap their Ethereum tokens for Ethereum (ETH).
In keeping with the blockchain’s goal of decentralization, Uniswap launched its governance token, UNI, in September 2020 and distributed it to past users of the DEX. UNI holders have the right to vote on new development initiatives to move the protocol forward.
Find the latest UNI price and chart on our website.
UNI is an Ethereum token and can be bought with fiat or other cryptocurrencies on YouHodler.
You can easily earn interest on your UNI. Create a savings account with YouHodler, buy and deposit UNI, and watch your stash accrue returns.
Borrow stablecoins with your UNI funds at a ridiculously cheap interest rate.
Multiply your UNI bag using our Multi HODL strategy at YouHodler.