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Uniswap UNI

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1. Summary

Fundamental Rank
99
Developer Rank
97
Social Rank
100
Coinrank
99
Description

Uniswap is an Ethereum-based decentralized exchange (DEX) that allows for the swapping of ERC20 tokens. The beauty of it is the fact that, unlike other exchanges that are designed to make money out of fees, Uniswap is designed to function as a tool for the community to trade without platform fees or middlemen. Uniswap...

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Uniswap is an Ethereum-based decentralized exchange (DEX) that allows for the swapping of ERC20 tokens. The beauty of it is the fact that, unlike other exchanges that are designed to make money out of fees, Uniswap is designed to function as a tool for the community to trade without platform fees or middlemen. Uniswap uses a math equation as well as pools of tokens and ETH to determine prices and execute trades.

Uniswap originally launched in November of 2018 and gained popularity due to the rise of DeFi in popularity.

It aims to keep trading automated and completely open to just about anyone that holds a token while also improving the efficiency of trading when compared to that on traditional exchanges. Uniswap actually creates more efficiency through solving liquidity issues with automated solutions which leads to none of the problems that some of the first decentralized exchanges had to deal with.

The UNI Token Explained

In September of 2020, Uniswap launched the UNI governance token with an airdrop to anyone that had used the protocol before September the 1st.

Uni is the native token of the Uniswap protocol and it gives its owner’s governance rights. Any UNI holder can vote on changes to the protocol. 1 billion UNI tokens were minted at genesis, where 60% were given to Uniswap community members, and 40% to team members, investors, and advisors through the span of four years.

The distribution to the community works and occurs through liquidity mining.

Features of Uniswap

The way Uniswap differentiates itself is due to its usage of a pricing mechanism known as the Constant Product Market Maker Model. Any token can be added to Uniswap through funding it with an equivalent value of ETH and the ERC20 token that is traded.

Instead of connecting buyers to sellers to determine the price, Uniswap uses a constant equation that goes like this: x*y=k.

Any ERC20 token can be listed on Uniswap without any permission, and each token has its own smart contract as well as a liquidity pool. If a liquidity pool does not exist for the token in question, it can easily be created.

Once a token has its own exchange smart contract as well as liquidity poo, anyone has the ability to trade the token or contribute to the pool while earning a liquidity provider fee of 0.3%.

The important thing to note here is that in order to contribute to a liquidity pool, you will need an equal value of ETH and ERC20 tokens.

Founders of Uniswap (UNI)

Uniswap was created as an automated market maker (AMM) on Ethereum by Hayden Adams, who was also an Ethereum developer.

Adams worked on multiple projects as he worked n Uniswap, and his work was closely followed by the creator of Ethereum known as Vitalik Buterin. An interesting fact here is that Buterin actually gave Uniswap its name.

Now, Adams mentioned that the original inspiration for this platform came from the blog posts that Buterin was writing at the time.

2. Price

$UNI / USD

2.1. Market Performance

How does Uniswap's (UNI) performance compare to assets of a similar market capitalization?

30 Day Return

7%

UNI

-14%

Similar Market Cap

60 Day Return

-45%

UNI

-35%

Similar Market Cap

3. Developer Activity

We're monitoring 47 Github repos for the Uniswap project.

Commits vs. The Market

  • Past 4 weeks: 542 commits vs. an average of 58
  • Past 12 weeks: 1,478 commits vs. an average of 244
  • Past year: 4,071 commits vs. an average of 1,512

Top Repos by Code Commits

Past week 261
Past 12 weeks 591
Past year 890
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Past year 634
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Past week 11
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Past year 300
Past week 0
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Past week 27
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Past week 17
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Past week 0
Past 12 weeks 14
Past year 114
Past week 12
Past 12 weeks 48
Past year 96
Past week 37
Past 12 weeks 72
Past year 83
Past week 5
Past 12 weeks 37
Past year 81
4. Social Activity
Reddit Subscribers (Uniswap) 47,211
Active Reddit Users 134
Telegram Users 0
Twitter followers 548,094
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