Uniswap (UNI)
Asset ID: 23
Uniswap (UNI) is a decentralized protocol built on the Ethereum blockchain. It operates as an Automated Market Maker (AMM), a system that enables the trading of ERC-20 tokens without relying on traditional order books.
Uniswap is the leading AMM-based decentralized exchange (DEX) on Ethereum by trading volume, often handling hundreds of millions of dollars daily, and reaching billions during periods of high market activity since its launch in 2018. Several factors contribute to its popularity among DeFi users.
The AMM model allows users to supply liquidity to the exchange and earn rewards in the form of variable annual percentage yields (APY). Because Uniswap is decentralized, all operations—from liquidity provision to token swaps—are conducted directly between users in a peer-to-peer (P2P) manner.
UNI, the native token of Uniswap, follows the ERC-20 standard and now operates under Ethereum’s proof-of-stake (PoS) system after the Merge. UNI can be used within the platform, including participation in liquidity provision to earn returns.
Additionally, UNI is utilized in liquidity pools alongside other ERC-20 tokens available on the platform. Meanwhile, ETH is required to pay gas fees for transactions on Uniswap.
Network: multichain
Category: Other
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