Uniswap

Uniswap

$12.93
-7.37%
$12.66

24H Price

$14.46


About Uniswap

The Uniswap price is $12.93, a change of -7.37% over the past 24 hours as of 5:06 a.m. The recent price action in Uniswap left the tokens market capitalization at $9.75B. So far this year, Uniswap has a change of 80.91%. Uniswap is classified as a DeFi under CoinDesks Digital Asset Classification Standard (DACS).

Uniswap (UNI) is the native token of the Uniswap decentralized exchange, a liquidity provider for the trading of tokens on the wider Ethereum network, also known as ERC-20 tokens. The Uniswap protocol is designed to be fully decentralized, using a trading model known as an automated liquidity protocol. That method gives users incentives to provide liquidity, which guarantees a liquidity pool, ensuring trades can be executed instantly at a known price.

Uniswap price

Uniswap minted a total of 1 billion UNI at its launch, which it expected to distribute over the course of four years. Sixty percent of all UNI will be distributed to community members, while the remaining 40% will be for investors, advisers and Uniswap team members. Once the total of 1 billion UNI is distributed, UNI will be an inflationary token with a perpetual inflation rate of 2%.

Uniswap’s protocol token went live in September 2020. and in the subsequent months, it captured the bull run of the wider crypto market. The uniswap price climbed to an all-time high of $45.01 on May 4 before pulling back along the broader crypto market that month. The price of uniswap spent the summer of 2021 fluctuating in the $15-$30 range.

How does Uniswap work?

Uniswap runs on two smart contracts – “Exchange” and “Factory” – automated computer programs that perform certain functions when certain preset conditions are met. The factory smart contract adds new tokens to the platform, while the exchange one facilitates trades of tokens.

The protocol offers “time-weighted average price” (TWAP) oracles, a pricing methodology that calculates the average price of an asset during a set period of time. Oracles are a tool that brings data from an outside source into a blockchain.

Uniswap’s consensus mechanism is quite similar to a proof-of-stake model in which users receive rewards in return for locking up their tokens.

UNI token holders can participate in on-chain governance for future upgrades to the Uniswap protocol. Further, UNI holders also obtain partial ownership of the Uniswap domain and set the token list for the Uniswap exchange.

Beyond governance, UNI holders are entitled to around one-sixth of the trading fees paid on the Uniswap Protocol. However, governance controls require that holders vote to agree on when they receive funds. The community is also encouraged to consult legal and regulatory professionals before implementing proposals.

The Uniswap team doesn’t participate directly in the development or the governance of the protocol. However, it reserves the right to delegate votes, without seeking to influence voting decisions.

Key events and management

In 2016, the concept for an on-chain AMM was theorized by Ethereum co-founder Vitalik Buterin in a post on Reddit. The concept was different from decentralized exchanges in that it doesn’t use a traditional order book. Hayden Adams began working on the concept after he was laid off from his job as a mechanical engineer and was encouraged to learn how to code by Ethereum Foundation member Karl Floersch. Eventually, Adams received multiple grants to continue his work from the Ethereum Foundation and others to build it into a functional exchange, and on Nov. 2, 2018, Hayden publicly announced Uniswap and launched it on the Ethereum blockchain.

Uniswap v2 launched in May 2020. It facilitated over $135 billion in trades and gave Uniswap the title of the largest decentralized spot exchange in the world. A year later, Uniswap v3 launched on the Ethereum blockchain with the aim of making transactions on Uniswap cheaper and faster.

Well before its upgrade to V3, the protocol raised $11 million in August 2020 in a Series A funding round that was led by venture capital firm Andreessen Horowitz.

Read less...
Sponsor LogoBuy crypto on a secure, trusted platform.
Cryptoasset investing is highly volatile and unregulated in some EU countries. No consumer protection. Tax on profits may apply. Don’t invest unless you’re prepared to lose all the money you invest.

Latest About Uniswap

View All
Uniswap price (CoinDesk data)
Early Uniswap Whale Sold $1M Worth of UNI as Price Surged

The wallet in question still holds $10.6 million worth of UNI tokens.

Uniswap price (CoinDesk data)
Frax Finance CEO Sam Kaizeman (Wikipedia)
Frax Finance Mulls Uniswap-Like Reward Mechanism for Token Stakers

"We are going to follow Uniswap's lead in proposing it. It will be up to the community to pass it," CEO Sam Kazemian said.

Frax Finance CEO Sam Kaizeman (Wikipedia)
Derivatives trading now represents 70.3% of the entire crypto market, up from 68% in December. (Unsplash, Kanchanara)
First Mover Americas: dYdX Beats Uniswap, Bitcoin Outlook Dour

The latest price moves in crypto markets in context for Jan. 18, 2024.

Derivatives trading now represents 70.3% of the entire crypto market, up from 68% in December. (Unsplash, Kanchanara)
Coinmarketcap
dYdX Tops Uniswap as Largest DEX by Volume

The decentralized exchange, which last year moved over to the Cosmos blockchain, just saw $757 million of volume over a 24-hour period.

Coinmarketcap

Julian Duran and Mike Casey of Marathon Digital join the podcast to discuss the advent of Slipstream, an Ordinal minting service, and Anduro, a Layer 2 network for Bitcoin Read more...

CoinDesk Indices

View All
Top Indices including Uniswap
Logo
Index nameTickerWeight24H

Bitcoin Calculator

Last Updated on 03/15/24 5:06 AM

CoinDesk’s Bitcoin and Cryptocurrency Calculator determines the exchange rates between major fiat currencies and cryptocurrencies – including BTC, BCH, ETH and XRP to USD, EUR, GBP, IDR and NGN – with up to six decimal places of accuracy. Conversion rates are based on CoinDesk’s Bitcoin Price Index and the price indices of other digital assets. World currency prices are based on rates obtained via Open Exchange Rates.

Market Analysis
Social Analysis