During the start of the crypto market space, the coins were exchanged through centralized platforms. Exchanges like Binance, Huobi made their names from the start. As the market progressed further, different projects were launched to make the exchange easier and accessible. The idea of de-fi spaces came along. The main advantage is the cutting of the middleman during the exchange as opposed to the centralized platforms where the broker is present. Due to this fact, the idea became really popular, and different projects were launched. Currently one of the most popular de-fi application is UniSwap (UNI) coin.
What is UniSwap (UNI)?
Uniswap is a Decentralized Exchange (DEX). Founded in 2017 by Hayden Adams it is built on Ethereum Network. The platform allows the exchange of de-fi tokens and ERC tokens as opposed to PanCakeSwap that allows the exchange of BSC coins. The users can provide liquidity in different pools and they are rewarded on the basis that how much have they provided to the pool. If the token isn’t listed on the exchange, you can look for the contract address and add it there to exchange to any other token. You need to connect a wallet to the platform in order to exchange.
UNI coin Key Statistics
The total supply is 1B coins, the distribution of the coin is as follows:
- 60% to the UniSwap community
- 266% to team members and future employees
- 044% to investors
- 69% to advisors
The UNI token have the following uses:
- On-chain governance.
- Staking in pool.
- Reward for the staking.
Will UniSwap (UNI) Stay at the top?
Currently, UniSwap (UNI) is the most used DEX for the exchange of different tokens. With their V3 launching soon we can expect even more applications from the platform. Currently, the DeFi universe is very volatile and has a lot to be done. Many crypto enthusiasts stay away from DeFi as they think that it is a risky investment but the way things are unfolding, we can expect better things from it.
UNI Coin’s Recent Price Movement
The UNI token made its ATH on 3rd May 2021 and reached a price of $45 before the downfall. At the time of writing the coin is being traded at a price of $28.688. Currently, the market has had a change of -3.84% in the last 24 hours and with a total change of +24.28% in the last 7 days. The coin is ranked 10 on CoinMarketCap.
