CoinWind Academy Series: 3 Minutes to Know $UNI

Changes have been sought in the cryptocurrency market and will continue to be sought. This has helped cryptocurrency to stand the test of time and evolve with technology. Initially, Centralized exchanges have been the only game player offering different services from trading platforms to payment among others. However, the need for a Decentralized exchange that does not require a middleman has led to many of such being conceived.

A leading proponent of this is UNISWAP.

WHAT IS UNISWAP

UnipSwap is a decentralized exchange that allows users to swap Ethereum based tokens. It is the most popular decentralized exchange on the Ethereum network allowing users to trade any digital currency of their choice that is built on the ETH network and allowing them to stake their holdings in liquidity pools. $UNI, its governance token is used for governance by the community. It was created in 2018 by Hayden Adams, with contributions from two other developers.

UNISWAP FEATURES

* It has or allows over 2000 trading pairs according to CoinGecko which translates to mean it is flexible to use, therefore, it is more decentralized.

* It fast and easy to use as it has no listing process, no KYC issues, and no centralized authority in place.

* The low fee it charges is another feature of UniSwap.

WHAT IS $UNI TOKEN?

The token was introduced in 2020 through an airdrop as no ICO was carried out. UniSwap ran an airdrop and offered 400 UNI tokens (worth roughly $1,500) to certain users who had previously used Uniswap’s services.