Uniswap (UNI) is an Exchange platform for ERC20 to ERC20, for example Ethereum (ETH), Basic Attention Token (BAT), or OmiseGO (OMG). Uniswap is built on Ethereum blockchain and uses smart contracts to exchange tokens. The ETH is used as a medium when exchanging with a gas fee estimated to be around 0.3% of the exchanged value
Essential details:
- UNI Token holders can jointly decide what to do with their Community Treasury or UniSwap funds
- UNI Coin holders have the right to vote or vote on the change in fees on the platform (Protocol fee switch)
- Automated Market Maker (AMM) technology is used as a protocol to automatically and accurately calculate trading prices between individual coin pairs
What are the roles of UNI tokens?
- UNI is the Governance Token for Uniswap Platform. The holder has the right to determine the future of Uniswap by voting or commenting on the referendum
Whitepaper: https://uniswap.org/whitepaper.pdf