About Uniswap (UNI)
Uniswap (UNI) is a decentralized protocol built atop the Ethereum blockchain network. The protocol is known as an Automated Market Maker (AMM), a system designed to facilitate the exchange of various ERC-20-based cryptocurrencies.
UniSwap is the largest AMM DEX by volume on Ethereum, accounting for hundreds of millions in daily trade volume typically, and even billions in busier market conditions since being founded and launched in 2018. Several factors can be considered as potential reasons that make UniSwap a popular DEX among DeFi users.
The AMM network design gives individuals the opportunity to provide liquidity to the decentralized exchange (DEX) and in doing so, receive rewards in the form of varying APYs. As Uniswap is decentralized, its network is fully peer-to-peer (P2P), from liquidity to swapping.
Uniswap’s native cryptocurrency, UNI, is an ERC-20 coin and as such, now utilizes a proof-of-stake (PoS) consensus model due to the Ethereum Merge. UNI can be staked on the home network platform to provide liquidity for the ecosystem in exchange for specified percentage returns.
It is also used in liquidity pools on the native platform, alongside the ERC-20 cryptocurrency farms and pools accessible therein. At the same time, ETH is used for gas in transactions made on the Uniswap platform.
UNI is listed on Binance for trade and purchase. UNI price is updated and available in real-time on Binance.
