HOW THE MAIN DEX IS DEVELOPING ON THE ETHEREUM NETWORK – UNISWAP (UNI)

Uniswap is a decentralized protocol for trading cryptocurrencies based on smart contracts. Works in networks Ethereum. This is the first project to implement an automated market maker and liquidity pools.

The protocol includes a series of smart contracts that allow any user to directly trade with each other. Technically, this is a decentralized exchange (DEX)

Price UNI: $7.33

ATH: $44.91 (05/03/2021)

Fall from ATH: 83.7%

Daily trading: ~$190 million

Max. emission: unlimited

In circulation: 734 135 450 (73%)

Market Cap: $5.4 billion

Mid-July 2022 Uniswap remains one of the top DeFi projects: it ranks second in the ranking DeFi Pulse by the volume of blocked funds with an indicator of $7.04 billion

Results of the Q2 2022 protocol

Despite the collapse Terra and a strong drop in the capitalization of the entire crypto market, trading volumes on Uniswap decreased by only 8.7% compared to Q1 2022. This is explained by the fact that high volatility is beneficial for DEX - arbitrage bots actively continued to work in the system.

Decreased liquidity by DEX was 37.1% (this is in conditions when Ethereum fell by almost 70% over the same period of time).

Liquidity provider (LP) fees in Q2 2022 increased by 146.9% from $1.4 million to $3.5 million. The long-awaited release of the Optimism governance token, OP, brought a big boost.

The eighth wave of grants has passed - a record 230 applicants have applied for funding.

The project team launched a venture division Uniswap Labs Ventures to invest in Web3 products.

Acquisition of NFT marketplace Genie

In June the company Uniswap Labs announced the purchase of a marketplace aggregator of non-fungible tokens — Genie. According to the representatives of the team, NFT products are already being tightly implemented in services Uniswap. So soon everyone will be able to use a web application through which it will be possible to buy and sell NFTs on all known marketplaces. The company is also integrating NFT into its Application programming interface for developers and in your widgets.

UNI Token

UNI is an ERC-20 token designed to manage the protocol. Token holders vote for the further development of the network. Total amount of issued tokens UNI will be 1 billion units. After reaching this number Uniswap will introduce a "constant inflation rate" of 2% to maintain the network.

Conclusion

Gloomy macroeconomic situation, collapse Terra and geopolitical uncertainty all contributed to one of the worst quarters in the history of the cryptosphere. Nonetheless Uniswap proves that it has a strong position in the market and the decentralized exchange model is not going anywhere in the future.

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