Decentralized Trading Protocol
Over the past few years, Uniswap has become one of the most widely used exchanges in the crypto and digital space worldwide due to its decentralization and availability of digital currencies. One of the positives is that it is suitable for both beginners and professionals.
Uniswap at a glance
Similar Exchanges to UniswapEvery exchange has its highlights. Knowing similar exchanges to Uniswap will help you compare between them.
Know more about Uniswap
Uniswap is the first non-licensed decentralized exchange that allows users to trade any Ethereum blockchain-based token directly through the Web 3.0 wallet. Today, despite the numerous competitors and exchanges that have been established, the most popular decentralized exchange (DEX) in the first place is UniSwap.
Examples of positive points about Uniswap Exchange include the use of smart automated chain contracts with limited costs.
Uniswap Exchange has now established itself as a strong competitor and a real threat to competitors focused on its digital currency transactions. The liquidity of this exchange has also attracted a lot of attention. Although it is widely known as a simple business mechanism for most people, there is more to this project than many people are unaware of.
Uniswap Exchange Fees
To trade digital currencies, you have to pay a 0.3% fee. In addition, with each transaction, you must pay a certain amount of fee under the heading (Gas). Although this is not a fee to be charged directly by Uniswap, you should note that there is still no protocol for this program.
What is the Flash Swaps protocol?
The Flash Swaps protocol allows you to withdraw the maximum amount of liquidity per token at Uniswap exchange for free, if (when the transaction is complete) you pay the cost of the ERC20 withdrawn currencies with the same pool/pair digital currency. There is another way, and that is to give back the signs that you have taken.
Your flash swap transaction will not be successful if you are unable to pay or return the tokens. The only cost you have to pay is the relatively low cost of the protocol.
Uniswap Token (UNI)
UNI is the main token of the Uniswap exchange, which is used to help facilitate and strengthen the ecosystem. 60% of the total UNI belongs to the team created and 15% is distributed among users.
Uniswap tokens are now available in most reputable exchanges around the world and through them, they can buy them with every amount of money they want. Holders of Uni tokens have the right to vote and can influence certain actions or decisions of the protocol.
Pros and cons of Uniswap Exchange
Exchange in a completely decentralized context
High liquidity and a large number of currency pairs to choose from
For ease of use, you get started with just a few clicks.
Earn rewards by providing liquidity
Polling stations if you have a UNI token
High-cost protocol (Gas). (Although this is not just a Uniswap exchange, as this is currently the case for all Ethereum-based DEXs)
Limited to Ethereum blockchain-dependent tokens