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Uniswap Token: All you need to know
Should you buy or sell?
Anyone in the crypto space who’s not been living under a rock and ignoring the whole DeFi hype will know Uniswap. But what if you are that caveman hiding in your cave warming yourself with your bitcoin burns? Don’t worry I got you:
Uniswap is a decentralized exchange where users can swap any token that uses the famous ERC-20 protocol, used by Ethereum, USDT, Dai, AAVE, Binance coin etc. Uniswap makes it super easy to swap an ERC-20 token with another ERC-20 token with a few clicks by connecting your Metamask wallet to the exchange.
Why UNI is important
Uniswap has become so huge that it has surpassed mainstream centralized exchanges like Coinbase when it comes to 24 hour volume. This is a huge feat! This means that us, the community, is preferring to use a decentralized solution instead of entrusting a centralized authority that demands fees from us simply for operating. But what are they providing us? If you have USDT and I have ETH. and I want to exchange ETH for your USDT and you want to do the same, what business is it to a third party? This is exactly what Uniswap provides us with, without any fees. And now this decentralized protocol has a governance token. That governance token is called “UNI”.
