Uniswap information



Description

Uniswap is a protocol for swapping ERC-20 tokens on the Ethereum blockchain. Thanks to the decentralized structure of the project and its implementations, common problems of centralized crypto exchanges can be avoided. Uniswap's source code is public as an open source under the GPL license and is constantly being further developed.

About the project

The Uniswap trading platform Version 0 (V0) was announced on November 2, 2018 and loaded onto the Ethereum Mainnet (Ethereum main network). Hayden Adams started dealing with Ethereum, Solidity and Javascript in July 2017 on the recommendation of Karl Floersch after being fired from an old job. To improve his skills, he decided to work on a real project and decided to implement an automated Market maker. The idea came from a Blog entry by Ethereum co-founder Vitalik Buterin and originally came from Alan Lu from Gnosis. In the meantime, Uniswap has become an integral part of the tools around Ethereum and version 2 is now available. The code can be found on GitHub.

Usability

The user interface on app.uniswap.org offers a minimalist, easy-to-use trading overview with two main functions. The first main function is the exchange of an ERC-20 token or Ethereum for another ERC-20 token, the second is to provide liquidity. You can also switch between protocol versions V2 and V1 and make various fine adjustments. The web interface is connected with Metamask, for example.

Fees

The fees on Uniswap are set at 0.3% and are primarily used to offer an incentive to provide liquidity and thus avoid a common problem with decentralized exchanges. Thus, all users who provide liquidity receive a share of the fees. In addition, the respective gas fees of the Ethereum network must be considered.

Questions & answers

We have summarized the most important questions and answers about this provider for you and tried to answer them.

Is there an API for Uniswap?

Yes, liquidity and trading volume data for versions 1 and 2 are provided via API. The code and documentation are visible on GitHub.

Can fiat currencies be used for trading?

No, only ERC-20 tokens and Ethereum can be traded on Uniswap.

How secure is Uniswap?

From the user's point of view, the security when using Uniswap depends heavily on the wallet, the web browser and the operating system with which Uniswap is used.

Is Uniswap legitimate?

Basically, yes. Uniswap is neither regulated nor is there a central point to which complaints or claims can be directed, but the complete code is publicly available online. This is one of the great advantages of a decentralized crypto exchange.

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