What is Uniswap? (in 60 seconds)

Uniswap is a decentralized Ethereum based protocol that automatically facilitates the swap of ETH and ERC-20 tokens (tokens built on Ethereum). Think of Uniswap as an owner-free instant bartering system for ERC-20 tokens. For example, if you wanted to trade USDC (ERc-20 Coinbase stablecoin) to Dai (Erc-20 MakerDao stablecoin), this becomes possible at significantly lower costs than Coinbase.

Uniswap.exchange/swap is accessible via desktop, and currently supports Coinbase wallet, meta mask, and other wallets. Since most coins are ERC-20, Uniswap has become a very useful tool to facilitate the exchange of value.



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