DeFi: Uniswap is the first giant of Decentralized Finance
The Uniswap team gave away 400 $UNI tokens to DeFi enthusiasts who had used the platform before September 2020.
But let’s proceed with the order. Why did this happen?
For years the blockchain and cryptocurrency space had been waiting for more than tokenized assets on the blockchain and finally the space is maturing with usable dApps (decentralized applications).
First p2p money, Bitcoin , led the way in understanding the power of blockchain technology.
After the initial success of Bitcoin came the craze of tokenizing anything and everything. Today in 2020, decentralized exchanges are now the craze and the most passionate advocates in the blockchain space are ready to create. With the proper liquidity emerging and expiry space, Uniswap clone is sweeping the blockchain space and taking decentralized finance to the next level.
For those who don’t know, Uniswap is possibly the most important financial product in the world, but built on a blockchain. Uniswap V1 was built on the Ethereum blockchain and released on November 2, 2018.
Today, more people realize the importance of building important financial tools that will alter the course of the blockchain, human freedom, and thus history. Some of the biggest proponents and minds in blockchain technology are stepping up to create invaluable tools for the whole world through dApps. These new decentralized financial tools can increase financial inclusion around the world and will inevitably lead to unprecedented economic growth.
Ethereum allows financial products to be launched on the Ethereum blockchain through scripted smart contracts and has done so now for many years. The difference today, the decentralized protocol of Uniswap allows to unlock the next level value with the maturation of p2p exchange of assets absent of a centralized intermediary in addition,Uniswap clone script the absence of a legacy 3 Rd party institution allows quick launches after the Products are built and launched without dragging their feet for a myriad of reasons.
With the rise of decentralized data sources and oracles like Chainlink , more products that take blockchain beyond p2p money will become more prevalent and useful this decade and beyond.
In recent months, Uniswap has taken on the world’s major centralized exchanges head-on and put them on high alert! There have been days recently when Uniswap outperformed some of the world’s leading centralized exchanges and Uniswap’s success has sent shockwaves throughout the cryptocurrency world . For a space that loves decentralization and the freedom that p2p technology unleashes, uniswap and decentralized exchanges are an organic and timely progression.
Uniswap vs. SushiSwap
Within the world of blockchain technology there is a battle of centralization and decentralization and Uniswap has created an atmosphere with its success that has led to a wide range of rivals namely SushiSwap . With the launch of Sushiswap’s token , $Sushi, the heads of Uniswap decided it was time to launch their own governance token , $UNI.
The Uniswap team decided to proceed with an airdrop of 400 $UNI tokens to DeFi enthusiasts.
To the surprise of many when they logged into Uniswap on September 17 and after, 400 tokens or up to $3,200 [the highest price this token ever reached] were ‘ airdropped ‘ to users as a thank you for making Uniswap the decentralized cryptocurrency exchange. most used in the world.
Over 13,000 DeFi degenerates, or ‘DeFi degens’ as they are known, were some of the lucky recipients and the first to celebrate the new $UNI token.
Today the main threat to Uniswap seems to be the success of Uniswap . Since Uniswap is a protocol on top of Ethereum, the Ethereum crimson can limit the spread of Uniswap with high transaction fees.Uniswap clone script However, with the long-awaited release of sharding and scaling advancements with Ethereum 2., Uniswap could emerge as the world’s leading exchange .
Despite the possibility of high fees and a congested network, for now, the success and geniuses of Uniswap cannot be underestimated, it is truly a game changer!
The marketing ploy to engage and combine some of the strongest advocates of cryptocurrency innovation and decentralized finance products with the $UNI airdrop was another brilliant move. I am excited to see what the future holds for Uniswap and its new $UNI governance token as 2020 wraps up.
At the time of writing, the price of $UNI is $4.57 and up 18% in the last 24 hours with an ATH of $8.40 per $UNI, it occupies the 33 position in the ranking of cryptocurrencies by market capitalization .
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