Home » Blockchain » What is Uniswap (UNI) and what are its advantages?

What is Uniswap (UNI) and what are its advantages?

by Financial Economy

Uniswap is a decentralized exchange system. It is one of the decentralized exchange structures known among DeFi projects. Uniswap is basically a protocol that can be used to exchange ERC-20 tokens through smart contracts without having a center or administrator. Information about ” What is Uniswap (UNI) and what are its advantages?” is in rest of the article. You can browse here for information of dogecoin.

What is Uniswap (UNI) and what are its advantages?

It uses smart contracts that allow the exchange of tokens in the pools in the Uniswap system. In these pools, any ERC-20 compatible token can be exchanged. The most important feature that distinguishes it from central exchanges is that it allows you to make direct exchange with your wallet by eliminating transactions such as clearing after the transactions are transferred to the stock exchange.

What is UNI Token?

The UNI Token is a management token that allows you to have a say in the management of the Uniswap decentralized exchange. Uniswap system is an open software protocol. The decentralized Uniswap protocol offers user ideas to other users in order to make updates and changes within the system. Users also vote for these updates thanks to their UNI Tokens. Updates or changes can only be made based on the voting result.

UNI Token was launched in 2018. Thanks to the growing interest in DeFi projects, UNI Token gained significant value in 2020. Uniswap will bring a total of 1 Billion UNI to the market.

How is UNI Token mining done?

UNI Token is not a cryptocurrency that can be mined. All UNI Token balances are periodically offered by Uniswap. With your UNI Token balance, you can have a say in the Uniswap system.

For details: https://en.wikipedia.org/wiki/Uniswap

Related Posts

Leave a Comment