Decentralized Exchange for Trading ERC-20 Tokens
It is a halal crypto token.
Uniswap (UNI) is a decentralized exchange protocol launched in 2018, built on the Ethereum blockchain. Here’s a breakdown of its key features:
- Automated Liquidity Provision (AMMs): Uniswap utilizes an automated market maker (AMM) model, where liquidity pools are created by users who deposit tokens. This eliminates the need for order books and facilitates peer-to-peer token trading.
- Support for ERC-20 Tokens: Uniswap primarily focuses on facilitating trades for ERC-20 tokens, the native token standard of the Ethereum blockchain.
- Community Governance (UNI): UNI, the governance token of Uniswap, allows holders to participate in proposing and voting on changes to the Uniswap protocol.
- Open-Source and Permissionless: Anyone can access and use the Uniswap protocol to trade ERC-20 tokens without needing permission from a central authority.
- Decentralized Alternative: Uniswap offers a decentralized alternative to traditional cryptocurrency exchanges, potentially promoting greater transparency and control over user funds.
A Popular DeFi Platform:
Uniswap’s AMM model and focus on user-driven liquidity have made it a popular platform within the Decentralized Finance (DeFi) ecosystem