Uniswap (UNI) - a decentralized exchange and a token that you could get for free

It was enough to carry out even one transaction on the decentralized cryptocurrency exchange Uniswap before September 17, 2020 to receive UNI tokens worth up to USD 300. Today, this free package is worth approx. 1,8 thousand. USD even if we didn't do anything with them. Will the price of this cryptocurrency continue to rise? We check.

We continue the cycle of the Forex Club portal, in which we analyze and describe the largest, highest-valued, most interesting, most developmental, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for the Uniswap cryptocurrency exchange and its UNI token.

What is Uniswap

On the Uniswap cryptocurrency exchange, users may act differently than on classic exchanges. There are no specific pairs of cryptocurrencies, but everyone can "pair" any cryptocurrencies with each other and not only trade them, but also place their tokens in the so-called liquidity pools. It is thanks to them that it is easier to prepare an exchange offer that will suit the largest number of users. This is the advantage of decentralization - it is the users who decide which pairs will gain the most trading opportunities. However, there doesn't have to be any listing or offer - users can trade all cryptocurrencies with each other on a P2P basis.  

Investors' deposits themselves are also not held by Uniswap, because they do this smart contract, responsible for the automatic security of transactions that are completely anonymous. This is another advantage of decentralization. Therefore, in this case, there is no possibility of losing funds or even sensitive data as a result of a hacking attack, because we simply do not pass it on to anyone. The data is never transferred, and the tokens are automatically transferred to the smart contract only when all the conditions (including, of course, payment) are met and comply with the border offers set by both parties. Therefore, anonymity does not affect the security of transactions, because it is quite the opposite - it significantly increases it, practically reducing the risk to zero. 

The use of algorithms dealing with matching offers and orders means that there is also no room for manipulation of the rate, which could be used by large players with large wallets on less liquid pairs. So you do not have to worry that you can lose large amounts there as a result of machinations by dishonest participants in the cryptocurrency market.

Uniswap cryptocurrency exchange token (UNI)

On September 17, 2020, the Uniswap exchange token - UNI debuted. Interestingly, it was distributed according to a previously adopted schedule and it was impossible to simply buy it - even during private enrollments. The first tranches were received by users who made transactions on the exchange before September 1, 2020. UNI tokens worth up to USD 300 went to them. Today, they are worth around $ 1800 and not even counting the profit they could get for placing tokens in the liquidity pools, which are of great interest to an increasing number of users. 

Cryptocurrency Quotes

The UNI token can currently be traded on 55 cryptocurrency exchanges from around the world. As of October 13, 2021, 575 202 of the 575 target units are in circulation. Each of them is valued at USD 1, which translates into a capitalization of almost USD 000 billion. This cryptocurrency peaked on May 000, 000, when UNI tokens were valued at $ 24,02. 

UNI / USDT token chart, D1 interval. Source: Binance platform