Decentralized Finance (Defi) is the talk of the town, and many crypto enthusiasts are flocking into space. While the stability of the space remains quite uncertain, coins relating to such financial tools are gaining great market traction and attention.
The “big names” of the industry have evolved over time. While Chainlink (LINK) was the first to amaze everyone with an insane monthly gain through August, other newcomers like Yearn Finance (YFI), also shun through the markets at their prime.
The most recently evolved of all is UniSwap, which has taken the crypto markets by quite a surprise. Being a great Defi investment option, our price prediction article hopes to throw light upon the future possibilities. As an active or a potential investor, we hope to answer as many questions that you may have concerning your decision to invest in UniSwap.
What Is UniSwap?
Uniswap is a decentralized exchange founded by Hayden Adams in November, 2018. The protocol exists in the form of two smart contracts hosted on the Ethereum blockchain, as well as a public, open-source front-end client. It’s a 100% on-chain market maker allowing the swapping of ERC20 tokens, as well as ETH to an ERC20, and vice-versa.
UniSwap enables its users to exchange any ERC20 token, including the native ETH token, without middlemen, and allows anyone with an Ethereum address to contribute to the exchange’s liquidity, and thus earn from it.
UNI is the native token of the Uniswap protocol, and it entitles its holders to governance rights. This just means that UNI holders can vote on changes to the protocol. The tokens were launched in an airdrop to thousands of users in mid-September, 2020.
The introduction of the tokens will allow the community of holders to be involved in the governance of the protocol.
1 billion UNI tokens were minted at genesis. 60% of Mothose was distributed to existing Uniswap community members, while 40% was made available to team members, investors, and advisors over the course of four years vesting periods.
UNI Price Today
Uniswap (UNI 8% Gain): Uniswap airdropped at least 400 Units of UNI tokens to thousands of users. While this caused great excitement among crypto enthusiasts lately, the coin also caught a bullish momentum.
UNI coin gained around 8% since yesterday. The coin has an excellent market sentiment among traders voting for a prolonged bull market as the quarter proceeds.