LeoGlossary: The Uniswap Company
The company behind the development of Uniswap, a cryptocurrency exchange. This one relies upon a decentralized, open source protocol.
This was founded in 2018 by Hayden Adams. It received venture capital funding which allowed the protocol to come to market.
Build on the Ethereum blockchain, Uniswap uses smart contracts to allow individuals to swap tokens through automated transactions.
As Decentralized Finance (DeFi) grew, the use of Uniswap jumped. It is the largest decentralized exchange (DEX) by volume.
Liquidity pools are an important part of the operation of decentralized exchanges. Uniswap forgoes the idea of market maker in a quest for more efficient markets. Individuals are able to provide liquidity by staking their coins and tokens in different pools which Uniswap then utilizes for swaps.
The UNI token was distributed for governance.
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Posted Using LeoFinance Beta