Uniswap (UNI) – DeFi’s hottest token is now available on VNDC Wallet

Uniswap (UNI) – DeFi’s hottest token is now available on VNDC Wallet

From 28/09/2020, Uniswap (UNI) was officially listed on the VNDC Wallet (including Android and iOS apps). This is the “hottest” token of Decentralized Finance (DeFi) that gained 100% of its value just after 24 hours of launch on the biggest cryptocurrency exchanges.

About Uniswap (UNI)

Uniswap is a decentralized swap protocol built on the Ethereum blockchain, known as  an automated liquidity protocol with no orderbook or any centralization. Uniswap allows users to transact without intermediaries, with a high decentralized level and censorship resistance. Currently, Uniswap is the most widely used decentralized application (dApp) globally so far.

What is UNI token?

UNI is an ERC-20 token, created with the aim of initiating and encouraging ownership and participation of the community. The Uniswap (UNI) token launch has also become a catalyst for ETH’s rise in price.1 billion UNI have been minted at genesis and will become accessible over the course of 4 years, of which 60% of the initial UNI supply has been allocated to community members (600,000,000 UNI). UNI is now listed on many reputable global exchanges such as Binance, Coinbase Pro, OKEx,…

How does Uniswap work?

Uniswap operates under the Automated Market Maker (AMM – automatic market maker) model – a smart contract holded a reserve of liquidity (liquidity pool) that traders can transact. These reserves are financed by the liquidity provider. Anyone can be a liquidity provider (LP), depositing the equivalent value of the two tokens in the pool. In return, the traders pay a fee to the pool, which is then distributed to the liquidity providers according to their market share in the pool.

Liquidity providers create markets by depositing the equivalent of two tokens. These can either be ETH and an ERC-20 token or two ERC-20 tokens. These pools are typically made up of stablecoins like DAI, USDC or USDT, but this is not a requirement. In return, the liquidity providers receive “liquidity tokens”, representing their share of the entire liquidity pool. These liquidity tokens can be exchanged for the market share they represented in the pool.

Thus, it can be understood that Uniswap has 2 main functions:

  • Swap: Allows users to swap Ethereum and different ERC-20 tokens.
  • Pool: Help users earn money by becoming a liquidity provider (LP), by depositing tokens into a smart contract and in return you will receive tokens at that pool.

Some information about Uniswap (UNI)

Price Uniswap (UNI) $5,33 USD
Market capitalization $516.319.065 USD
24-hour trading volume $ USD
Circulating supply 96.866.285 UNI
Total supply UNI

Register a VNDC Wallet account now to transact Uniswap (UNI):

Hoang Thao Marketing Executive of VNDC, enjoy reading, writing and sharing.