Uniswap only unveiled its new token is fast gaining traction in the crypto-verse since its debut last Wednesday.
The project gave away a minimum of 400 UNI to anyone who had used Uniswap prior to September an amount now worth over $2,000.
Uniswap at the time this report was drafted traded at $5.46 with a daily trading volume of $2,146,342,877. UNI gained 428.9% in barely four days when it traded $1.03 on September 17th.
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It has a circulating supply of 110 million coins and a max supply of 1 billion coins.
Coinbase an American based crypto exchange that is usually very choosy on listing newly created altcoins added UNI to its Pro trading platform just hours after its debut.
What you should know: Uniswap is a decentralized exchange protocol built on the Ethereum network.
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Uniswap has no book or any centralized platform for executing trades. Uniswap allows users to trade without a middle man or third party, with a high degree of decentralization and censorship-resistance.
How Uniswap makes money: Uniswap is designed to be a decentralized protocol. All fees go to market liquidity facilitators, and none of the founding partners get a cut from the transactions that occur through the protocol.
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Currently, the transaction fee paid for these market liquidity providers is 0.3% per successful transaction. That said, these are added to the liquidity pool, but these market liquidity facilitators can redeem them at any time.
The fees are distributed according to each liquidity provider’s share of the pool.
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