Question 1

Uniswap (UNI)

Accepted Answer

Uniswap (UNI) is the native token of the Uniswap decentralized exchange, a liquidity provider for the trading of tokens on the wider [Ethereum](https://www.coindesk.com/price/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. This method gives users incentives to provide liquidity, which guarantees a liquidity pool, ensuring trades can be executed instantly at a known price.

Question 2

Uniswap Price

Accepted Answer

[Uniswap](https://uniswap.org/) 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](https://uniswap.org/blog/uni/) in September 2020. In the subsequent months, it captured the bull run of the wider crypto market. The Uniswap price climbed to an [all-time high](https://www.coindesk.com/price/uniswap/) of $45.01 on May 4 before pulling back along with the broader crypto market that month. The price of Uniswap fluctuated in the $15-$30 range during the summer of 2021.

Question 3

How Does Uniswap Work?

Accepted Answer

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

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

Uniswap’s consensus mechanism is similar to a [proof-of-stake](https://www.coindesk.com/learn/what-is-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.

Question 4

Key Events and Management

Accepted Answer

In 2016, the concept for an on-chain AMM was theorized by Ethereum co-founder Vitalik Buterin in a [post on Reddit](https://www.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/). 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 from the Ethereum Foundation and others to build it into a functional exchange. On Nov. 2, 2018, Hayden publicly [announced](https://uniswap.org/blog/uniswap-history/) 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.

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

#	Instrument	Exchange	Benchmark Score	Price	24h Change	24h Volume	24h Trades	24h Open	24h High
1	UNI-USDT UNIUSDT	binance	AA	7.56USDT	1.52%	7,130,479.92UNI	235,569	7.45USDT	7.79USDT
2	UNI-USDT UNI_USDT	gateio	A	7.57USDT	1.50%	2,703,945.06UNI	100,485	7.45USDT	7.79USDT
3	UNI-USDT UNI-USDT	okex	A	7.56USDT	1.50%	2,361,227.36UNI	85,029	7.45USDT	7.79USDT
4	UNI-USDT UNI-USDT	kucoin	BB	7.56USDT	1.50%	1,839,417.46UNI	46,387	7.45USDT	7.79USDT
5	UNI-USD UNI-USD	coinbase	AA	7.56USD	1.53%	1,664,490.95UNI	30,452	7.45USD	7.80USD
6	UNI-USDT UNI_USDT	whitebit	BB	7.57USDT	1.61%	1,661,675.03UNI	44,722	7.45USDT	7.78USDT
7	UNI-USD UNIUSD	kraken	AA	7.56USD	1.52%	629,551.23UNI	12,861	7.45USD	7.79USD
8	UNI-USDT UNIUSDT	bybit	A	7.57USDT	1.53%	570,923.85UNI	58,479	7.45USDT	7.80USDT
9	UNI-USDC UNIUSDC	binance	AA	7.56USDC	1.52%	495,084.98UNI	29,552	7.45USDC	7.78USDC
10	UNI-USDT UNIUSDT_SPBL	bitget	BB	7.56USDT	1.41%	392,435.07UNI	17,724	7.45USDT	7.81USDT
11	UNI-USD uniusd	bitstamp	AA	7.56USD	1.44%	260,338.05UNI	3,913	7.45USD	7.78USD
12	UNI-EUR UNIEUR	kraken	AA	6.73EUR	1.78%	192,219.87UNI	3,209	6.61EUR	6.92EUR
13	UNI-USDC UNI-USDC	okex	A	7.56USDC	1.48%	99,796.30UNI	12,875	7.45USDC	7.78USDC
14	UNI-USD UNIUSD	bitfinex	BB	7.57USD	1.58%	90,646.57UNI	26,702	7.45USD	7.79USD
15	UNI-TRY UNI_TRY	whitebit	BB	373.60TRY	1.49%	65,184.31UNI	2,210	368.10TRY	385.30TRY
16	UNI-TRY UNITRY	binance	AA	373.40TRY	1.38%	57,754.52UNI	1,562	368.30TRY	384.00TRY
17	UNI-WBT UNI_WBT	whitebit	BB	0.09147WBT	-0.50%	41,604.93UNI	2,929	0.09193WBT	0.09524WBT
18	UNI-USDC UNI_USDC	whitebit	BB	7.55USDC	1.88%	41,376.67UNI	1,883	7.41USDC	7.77USDC
19	UNI-USDC UNI_USDC	gateio	A	7.56USDC	1.65%	33,368.48UNI	950	7.44USDC	7.71USDC
20	UNI-BTC UNIBTC	binance	AA	0.0₄8940BTC	-0.67%	29,206.07UNI	1,107	0.0₄9000BTC	0.0₄9360BTC
21	UNI-USDT UNIUST	bitfinex	BB	7.55USDT	1.78%	21,675.26UNI	258	7.42USDT	7.77USDT
22	UNI-EUR unieur	bitstamp	AA	6.75EUR	2.53%	20,602.85UNI	329	6.58EUR	6.92EUR
23	UNI-USD UNIUSD	oslhongkong	A	7.55USD	1.35%	19,817.74UNI	8,128	7.45USD	7.79USD
24	UNI-EUR UNI-EUR	coinbase	AA	6.73EUR	1.49%	19,383.02UNI	1,475	6.64EUR	6.94EUR
25	UNI-USD UNI_USD	cryptodotcom	AA	7.56USD	1.54%	16,219.29UNI	23,820	7.45USD	7.79USD
26	UNI-EUR UNI-EUR	okex	A	6.73EUR	1.51%	13,804.89UNI	3,158	6.63EUR	6.93EUR
27	UNI-USD uniusd	gemini	A	7.63USD	2.34%	11,461.31UNI	1,385	7.45USD	7.78USD
28	UNI-USDT UNI_USDT	cryptodotcom	AA	7.57USDT	1.52%	7,906.89UNI	13,213	7.45USDT	7.78USDT
29	UNI-U UNIU	binance	AA	7.58U	1.85%	7,772.42UNI	216	7.45U	7.76U
30	UNI-BTC UNI_BTC	whitebit	BB	0.0₄8939BTC	0.40%	6,378.77UNI	276	0.0₄8903BTC	0.0₄9307BTC
31	UNI-USD UNI_USD	lmax	BB	7.59USD	1.63%	4,644.00UNI	3	7.47USD	7.59USD
32	UNI-GBP UNI-GBP	coinbase	AA	5.64GBP	1.98%	4,392.54UNI	188	5.53GBP	5.81GBP
33	UNI-EUR UNI_EUR	whitebit	BB	6.72EUR	1.60%	3,628.53UNI	225	6.62EUR	6.87EUR
34	UNI-BTC UNI-BTC	coinbase	AA	0.0₄9042BTC	1.63%	2,934.62UNI	50	0.0₄8897BTC	0.0₄9368BTC
35	UNI-USDC UNIUSDC	bybit	A	7.59USDC	4.10%	2,423.62UNI	131	7.29USDC	7.76USDC
36	UNI-USDC UNIUSDC_SPBL	bitget	BB	7.57USDC	1.53%	2,090.45UNI	381	7.45USDC	7.79USDC
37	UNI-USD UNIUSD	hashkey	A	7.56USD	2.11%	1,905.85UNI	328	7.41USD	7.77USD
38	UNI-USD1 UNIUSD1	binance	AA	7.61USD1	3.47%	1,730.84UNI	83	7.35USD1	7.69USD1
39	UNI-USDC UNIUSDC	bullish	AA	6.41USDC	0.00%	0UNI	0	6.41USDC	6.41USDC
40	UNI-BTC UNIXBT	kraken	AA	0.0₄8997BTC	0.62%	481.38UNI	69	0.0₄8942BTC	0.0₄9350BTC
41	UNI-ETH UNIETH	kraken	AA	0.003044ETH	1.23%	394.30UNI	71	0.003007ETH	0.003139ETH
42	UNI-TRY UNI-TRY	okex	A	374.67TRY	1.95%	351.74UNI	67	367.51TRY	381.83TRY
43	UNI-USDT UNIUSDT	cexio	BB	7.65USDT	3.98%	56.00UNI	3	7.36USDT	7.65USDT
44	UNI-USD UNIUSD	cexio	BB	7.49USD	4.35%	15.75UNI	3	7.18USD	7.49USD
45	UNI-USD UNIUSD	itbit	BB	4.02USD	0.00%	0UNI	0	4.02USD	4.02USD
46	UNI-USDC UNIUSDC	cexio	BB	7.58USDC	5.38%	3.03UNI	1	7.20USDC	7.58USDC
47	UNI-EUR UNIEUR	cexio	BB	6.66EUR	2.15%	2.22UNI	1	6.52EUR	6.66EUR
48	UNI-USDT uni_usdt	xtpub	-	7.57USDT	1.57%	2,837,285.04UNI	19,856	7.45USDT	7.78USDT
49	UNI-USDT uni_usdt	digifinex	D	7.56USDT	1.49%	2,121,636.37UNI	60,987	7.45USDT	7.79USDT
50	UNI-USDT UNIUSDT	toobit	C	7.56USDT	1.52%	1,797,511.08UNI	33,178	7.45USDT	7.78USDT