What is Uniswap coin? Outstanding information about Uniswap

What is Uniswap coin? If you have ever participated in the airdrop when trading on Uniswap, you will be given 400 UNI tokens for free, but this event took place in the past on September 17, 2020. Currently 2021 UNI has been on major exchanges and has a price of > $ 30 / UNI, you multiply by 400 tokens received, this is a not small amount. In this article, we will learn together some outstanding information of UNI!

What is Uniswap coin

1 – What is Uniswap coin?

Uniswap coin is essentially a native token in the Uniswap protocol (Uniswap Protocol) used for the following purposes:

Uniswap token holders have the right to decide on changes related to the protocol.

As rewards for participants in liquidity mining.

Making conversion fees, transaction fees.

Basic parameters of Uniswap token:

Token name: UNI token.

Symbol: UNI.

Blockchain Platform: The blockchain of ethereum.

Token standard: ERC-20.

2 – Outstanding information about Uniswap Protocol

2.1 – What is Uniswap Protocol?

Uniswap protocol is a decentralized AMM (Automated Market Maker) protocol developed and built on the blockchain of ethereum with ERC-20 token standard.

Uniswap allows users to swap tokens with each other or add tokens and pools to enjoy direct profits, not through any 3rd party.

2.2 – What are the main components in Uniswap?

#Swap

This is the method to trade one ERC-20 token with another.

#Liquidity Pool

This is a form of liquidity pool. Each pool is a trading point for each pair of ERC-20 Tokens, when the pool contract is created, the balance of each token = 0. In order for the pool to start providing transactions, it is necessary to top up each token.

#Flash Swap

In Uniswap v2 version comes Flash Swap component, which allows you to withdraw any amount of ERC-20 tokens for free provided they are paid at the end of each transaction.

#Oracle

Uniswap team developed oracle themselves with their protocol. On Uniswap V2 it is possible to build highly decentralized oracles.

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