Uniswap Crypto Platform

Pros

$1,119,453,843 USD currently invested (TVL)

Investments in 1,354 coin pairs available

Supports protocols including Arbitrum, Ethereum and Polygon

Cons

Investments in liquidity pools can be higher risk

Liquidity pool investments are only suitable for advanced crypto users

Uniswap Reviews

Uniswap is the leading pioneer decentralized exchange platform that was founded in 2018. The protocol was built on Ethereum and adopted the AMM model. The protocol was a first of its kind and was created after Vitalik’s on-chain AMM app idea. Former Siemens employee mechanical engineer Hayden Adams started to work on the idea and developed the protocol. Hayden Adams received a grant of $100k from Ethereum Foundation to launch the product. The company behind the protocol is Uniswap Labs. The first launch was in 2018 and became very successful in operations as well as its volume. Six months after the launch, venture capital Paradigm led a fundraising round.

Uniswap is an open-source protocol that allows peer-to-peer on-chain transactions. The protocol is trustless and permissionless because the underlying smart contracts are non-upgradable. Anyone can anonymously connect to the protocol and swap and exchange cryptocurrencies. Users can provide liquidity to the pools and receive a share of the revenue generated. The protocol is built on the Ethereum blockchain and supports ERC-20 tokens only. The protocol also supports Ethereum scaling solution projects, such as Arbitrum, Optimism, Polygon, and Celo. There are three versions of the protocol so far. NFT marketplace and flexible fees are the changes that came with v3.
 
There are many well-known investors behind Uniswap. Andreessen Horowitz, Coinbase Ventures, Three Arrows Capital, and Defiance Capital are some of the investors. Uniswap has a very large ecosystem that is integrated with more than 300 DeFi apps. Uniswap is open and accessible to everyone who wants to build a swap, exchange, or yield aggregator app. Uniswap generates revenue by receiving fees from transactions and liquidity pools. The revenue is shared with Uni token holders and liquidity providers.
 
UNI is the platform’s utility and governance token. Uni token holders participate in decisions about the platform’s future. For example, there is a proposal to deploy Uniswap v3 on the BNB Chain. Uni holders are also responsible for managing the community treasury. Uniswap’s governance doesn’t have the authority to change its existing smart contracts. So if an upgrade is planned to be implemented, the platform announces a new version and liquidity providers have the option to choose to move their funds to a new version or stay on the previous one. Uniswap is also the inventor of the token airdrop because 60% of the total supply was distributed among the users at the beginning.
 
Uniswap is the leading DeFi protocol with no doubt. Sushiswap and Pancakswap are Uniswap’s clones and they use Uniswap’s source code but they are growing faster than Uniswap because of their lower fees. The biggest rival on the market is Curve Finance and it is about to take Uniswap’s throne. Compound and dYdX are also increasing their market shares. Decentralized exchanges are expected to show relatively bigger growth in the future.
 
There is no hack issue or exploit in Uniswap’s history. There are, of course, phishing attacks but they are not directly related to the protocol’s security. Uniswap has the longest history and still has an important role in the market.

How Much Can You Earn on Uniswap?

Uniswap Supported Currencies

Uniswap supports over 2,000 currencies including Bitcoin, Ethereum, Tether and USD Coin.

Uniswap Key Data

Company

Automatic market maker	Yes
Decentralised	Yes
Open source	Yes
Non-custodial	Yes

Products

Crypto to crypto exchange	Yes
Crypto withdrawals to private wallet	Yes

Key People

Hayden Adams

Founder & CEO

Useful Links

Uniswap Contact Details