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What is Uniswap all about
With the increased interest in decentralised finance (DeFi) UniSwap emerged as a popular exchange for users to take advantage of. UniSwap is a fully decentralized exchange which works quite differently to typical exchanges where many people buy, sell and exchange their tokens now.
Being fully decentralized means UniSwap can eliminate concerts of centralized exchanges. including the risk of hacking, mismanagement, and arbitrary fees. However, many Dex’s will suffer from an issue of liquidity, which UniSwap is trying to solve by allowing the exchange to swap tokens without relying on buyers and sellers creating that liquidity.
The way UniSwap solves the liquidity problem is through an automated liquidity protocol. UniSwap incentivizes people on the exchange to become liquidity providers and then users pool their money together to create a fund that’s used to execute all trades that take place on the platform.
UniSwap also has its own governance token that integrates with this idea of being fully decentralized. The UNI token gives holders the right to vote on new developments and changes to the platform, including how minted tokens should be distributed to the community and developers as well as any changes to fee structures.
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UNI Questions & Answers
How much is Uniswap worth today?
Currently, the price of Uniswap is at 22.21 EUR.
To date, what was the highest price of Uniswap?
The price of Uniswap reached its highest point on 2021-05-03, when it was at 37.37 EUR.
What is the price of Uniswap going to be in 3 months?
Based on our price prediction algorithm we suspect the cost of Uniswap will reach anywhere between €18.13 and €33.23 3 months from now.
Is Uniswap going to cost more in one month time?
Using our short term price prediction, we estimate the cost of Uniswap will reach anywhere between €18.48 and €27.68 30 days from now.
What will Uniswap cost in six months?
The process of predicting the future over the long term is very challenging, but in accordance with our prediction we suspect Uniswap's price is likely going to reach between €10.07 and €48.26 in six months.
How popular is Uniswap among social media users?
54231 people were engaging in discussing Uniswap online on Reddit in the last 48 hours. Uniswap's official Twitter profile is currently followed by null people.
Why is DeFi such a big deal?
DeFi is a major craze in the cryptocurrency space at the moment as it could be the next big use case for blockchain. Having proven that money can be decentralized, DeFi is out to prove that financial services need not be run by banks and institutions who take their cut.
How are decentralized exchanges different?
Most cryptocurrency exchanges operate a lot like banks. They take your funds and use them behind the scenes while still allowing you access from their own reserves. In a decentralized exchange, coins are moved, traded and swapped with other people who are providing the liquidity, rather than the centralized exchange.
What is the Uniswap token used for?
Uniswaps native token, UNI, is known as a governance token. This gives holders the right to vote on new developments and changes to the platform, including how minted tokens should be distributed to the community and developers as well as any changes to fee structures.
Why do people want to move away from centralized exchanges to decentralized ones?
Centralized exchanges have been active on the cryptocurrency market for years. They offer fast settlement times, high trading volume, and continually improving liquidity. However, people are starting to appreciate trustless protocols. Decentralized exchanges require no middlemen or custodians to facilitate trading.