User:Hocus00/Uniswap

Uniswap is a decentralized digital currency exchange headquartered in New York City, United States. It is the largest decentralized exchange and the fourth-biggest cryptocurrency exchange overall. Uniswap supports the exchange of ERC-20 tokens on Ethereum.

History
Uniswap was founded by Hayden Adams after he left his job as a mechanical engineer at Siemens AG in 2017. The exchange raised millions of dollars from venture capitalists including Paradigm Venture Capital, Andreessen Horowitz, Union Square Ventures LLC and ParaFi. In less than two years since its launch, Uniswap’s average daily trading volume has grown to approximately $220 million. Traders and investors have utilized Uniswap because of its usage in decentralized finance (DeFi).

How Uniswap Works
Uniswap aims to create more efficient markets for buyers and sellers of digital assets on Ethereum. Uniswap uses liquidity pools rather than serving as market maker. Additionally, unlike most traditional cryptocurrency exchanges, Uniswap doesn’t charge issuers to list new tokens, and generates revenue through transaction fees. Uniswap runs via software that’s mostly not controlled by anyone. While a team of programmers works to improve it, the exchange is largely governed by a community of its own users. Additionally, Uniswap doesn’t check user identities.