Can I Use Uniswap In New York

Decentralized cryptocurrency commutation

Uniswap
Developer(s) Hayden Adams
Repository github.com/Uniswap/uniswap-v3-core
Written in Solidity
Platform Ethereum
Type Decentralized exchange
License GNU General Public License v3.0
Website uniswap.org

Uniswap
is a decentralized cryptocurrency exchange that uses a set of smart contracts (liquidity pools) to execute trades on its commutation. It’s an open source project and falls into the category of a DeFi product (Decentralized finance) because information technology uses smart contracts to facilitate trades. The protocol facilitates automatic transactions betwixt cryptocurrency tokens on the Ethereum blockchain through the use of smart contracts. As of October 2020[update], Uniswap was estimated to be the largest decentralized exchange and the 4th-largest cryptocurrency exchange overall by daily trading volume.[1]

History

[edit]

Uniswap was created on Nov two, 2018[2]
past Hayden Adams, a sometime mechanical engineer at Siemens.[i]

The Uniswap company received investments from venture upper-case letter firms, including Andreessen Horowitz, Paradigm Venture Majuscule,[3]
[4]
Union Foursquare Ventures LLC and ParaFi.[ane]
[5]
Uniswap’s average daily trading volume was Usa$220 million in October 2020.[1]
Traders and investors have utilized Uniswap because of its usage in decentralized finance (DeFi).[1]

Overview

[edit]

Uniswap is a decentralized finance protocol that is used to substitution cryptocurrencies and tokens; it is provided on blockchain networks that run open-source software.[1]
[vi]
This is in contrast to cryptocurrency exchanges that are run by centralized companies.

Changes to the protocol are voted on past the owners of a native cryptocurrency and governance token called UNI, so implemented by a squad of developers. UNI coins were initially distributed to early users of the protocol.[vii]
Each Ethereum address that had interacted with Uniswap prior to September 1, 2020 received the ability to merits 400 UNI tokens (worth approximately $1,400 at the time). The market capitalization for the UNI token is over USD six.half dozen billion as of Feb 2022.[1]

Protocol

[edit]

Uniswap uses liquidity pools to fulfill orders instead of relying on market maker, with an aim to create more efficient markets.[8]
[nine]
[1]
Individuals and bots—termed “liquidity providers”—provide liquidity to the substitution by adding a pair of tokens to a smart contract which tin exist bought and sold by other users according to the constant-production rule


ϕ ( x , y ) = x y {\displaystyle \phi (x,y)=xy}


.[10]
In return, liquidity providers are given a percent of the trading fees earned for that trading pair. For each trade, a sure amount of tokens is removed from the pool for an amount of the other token, thereby irresolute the price. No fees are required to list tokens which allow a large amount of Ethereum tokens to be attainable and no registration is required for users.[ane]
Every bit open-source software, Uniswap’s code tin besides be forked to create new exchanges.[11]

References

[edit]

  1. ^


    a




    b




    c




    d




    e




    f




    grand




    h




    i




    “DeFi Boom Makes Uniswap Most Sought-Afterward Crypto Commutation”.
    Bloomberg.com. sixteen October 2020.



  2. ^


    Adams, Hayden (11 February 2019). “A short history of Uniswap”.
    Uniswap.



  3. ^


    Gara, Antoine. “From Wall Street’due south Greatest Merchandise To The Top Dealmakers And Financial Entrepreneurs: xxx Under 30 In Finance 2021”.
    Forbes.



  4. ^


    Castillo, Michael del. “11 Bitcoin And Blockchain Leaders Made Forbes 30 Under 30 List”.
    Forbes.



  5. ^


    “Novogratz Plows Alee In DeFi Amid the ‘Gamifying’ of Crypto”.
    Bloomberg.com. 29 September 2020.



  6. ^


    “Crypto Commutation Gets Millions After Re-create-Paste of a Rival’due south Code”.
    Bloomberg.com. 11 September 2020.



  7. ^


    Confidential, Crypto. “Stimulus Checks From A Crypto Exchange; Bitcoin Rebound”.
    Forbes.



  8. ^


    Lo, Yuen; Medda, Francesca (3 November 2020). “Uniswap and the rising of the decentralized exchange”.
    Mpra.ub.uni-muenchen.de.



  9. ^


    Konrad, Alex. “These Immature Investors Are Nonetheless Betting Big On Crypto — And Are Taking Harvard And Stanford Along For The Ride”.
    Forbes.



  10. ^


    Adams, Hayden; Zinsmeister, Noah (March 2021). “Uniswap v3 core”
    (PDF).
    Uniswap.



  11. ^


    Osborne, Charlie. “DeFi SushiSwap creator returns $14m in ETH to projection later on causing token crash”.
    ZDNet.




Source: https://en.wikipedia.org/wiki/Uniswap

Check Also

Will Dogecoin Go Up In Value

Will Dogecoin Go Up In Value

On Dec. 6, 2013, Billy Markus and Jackson Palmer decided to combine their dearest of …