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What is Uniswap and why it’s one of the most popular DeFi protocols

Uniswap is a decentralized protocol that allows users to trade Ethereum tokens directly from their wallets. There is no need for a central exchange or order book, and all trades are executed automatically. Uniswap is one of the most popular protocols in the DeFi space because it is simple to use and provides a high degree of security.

Example of projects using Uniswap:

  1. MakerDAO: Maker is a decentralized lending platform that allows users to borrow and lend Dai, an Ethereum-based stablecoin. Maker uses Uniswap to provide liquidity for Dai and to allow users to trade Dai directly from their wallets.
  2. Compound: Compound is a protocol that allows users to earn interest on their crypto assets. It uses Uniswap to provide liquidity for its cTokens, which are ERC20 tokens that represent a user’s interest in a particular asset.
  3. Synthetix: Synthetix is a protocol that allows users to trade synthetic assets, which are digital assets that are pegged to the value of real-world assets. Synthetix uses Uniswap to provide liquidity for its sUSD, a synthetic USD token.
  4. Kyber Network: Kyber Network is a decentralized exchange that allows users to trade a variety of assets, including crypto, fiat, and commodities. Kyber Network uses Uniswap to provide liquidity for its KNC token.