XDEFI Wallet supports Uniswap

What is Uniswap?

Uniswap was created in 2018 by Hayden Adams as one of the first Ethereum-based Decentralized Exchanges (DEX). Uniswap uses an automated market maker (AMM) system to determine the price of tokens. This means that users can trade tokens without relying on a traditional order book system used by centralized exchanges. Instead, the AMM system uses a pool of liquidity, which is supplied by users who deposit tokens into a smart contract. The price of the token is then determined by the ratio of the two tokens in the pool. Users can trade any ERC-20 token that is listed on Uniswap, and the platform also supports direct swaps between different ERC-20 tokens. Uniswap also has its own governance token called UNI, which allows holders to participate in the decision-making process for the protocol.

What are the core features of Uniswap?

• Decentralization: Uniswap is a fully decentralized protocol that operates on the Ethereum blockchain, which means that it is not controlled by any central authority or intermediary.
• Automated Market Maker (AMM) system: Uniswap uses an AMM system to determine the price of tokens. This system allows users to trade tokens without relying on a traditional order book system used by centralized exchanges. Instead, the AMM system uses a pool of liquidity, which is supplied by users who deposit tokens into a smart contract.
• Permissionless: Anyone can create a new market for a token on Uniswap, as long as they provide the necessary liquidity. This makes Uniswap a permissionless platform that allows for anyone to participate in the ecosystem.
• Support for ERC-20 tokens: Uniswap supports trading of any ERC-20 token that is listed on the Ethereum blockchain.
• No listing fees: Unlike centralized exchanges, Uniswap does not charge listing fees, which makes it more accessible for smaller projects to be listed and traded.
• Non-custodial: Uniswap is a non-custodial platform, which means that users remain in control of their funds at all times. Users do not have to deposit their tokens with a centralized exchange or a third party, but rather retain ownership of their tokens in their own wallets.
• UNI Governance token: Uniswap has its own governance token called UNI, which allows holders to participate in the decision-making process for the protocol. UNI holders can vote on proposals related to the platform’s development and governance, such as changes to fees or the addition of new features.

What is the native token of Uniswap and where can I buy it?

The native token of Uniswap is called UNI. UNI is an ERC-20 token that was launched in September 2020. You can buy UNI on several cryptocurrency exchanges that support ERC-20 tokens. Some popular exchanges where you can buy UNI include Binance, Coinbase Pro, Kraken, Huobi, and Uniswap itself.