Uniswap

Uniswap an open source protocol and crypto exchange that allows you to securely exchange Ethereum (ETH) and ERC-20 tokens avoiding using the traditional order book model.Technically, UNI is a publicly available tool that distributes rewards among liquidity providers. Providers support the exchange by "locking" tokens, which allows other users to trade in a decentralized system. The UNI protocol includes a series of smart contracts that allow any user to directly trade with each other on the Ethereum blockchain.

UNI combines tokens into smart contracts, creating pools of liquidity. Platform participants can exchange assets, create new trading pairs, and add tokens to pools to earn commission. UNI token holders get full control over the network and its development. The developers have left the community a space to experiment: at their discretion, users can launch grants, fund product development, and use token reserves in any other way they see fit. The community gets the opportunity to set UNI commissions by voting. Community members are also responsible for ensuring that the project works in accordance with the requirements of regulators. They can engage legal and regulatory professionals before making changes to the project. Members of the development team will not deal with these issues directly, but can delegate their votes to community members. At the same time, they should not influence decisions. Ownership of 1% of the UNI cryptocurrency gives the right to subscribe to the nomination of the issue for voting. 4% of the tokens give the right to vote " yes " when making a decision. Those who do not have such a large number of UNI can delegate their tokens to another network member. Voting on each issue lasts for 7 days.

To trade on this exchange, you do not need registration and verification. It can be used by anyone who has an ETH wallet and some ether to pay transaction fees. On UNI, you can freely add an Ethereum asset, financing it with the equivalent value of ETH and a tradable token of the ERC-20 standard. This inf​ormation is from site cryptodefix. The platform does not require registration and passing KYC and AML procedures. Only an Ethereum wallet is required. The exchange operates liquidity pools, in which users can reserve cryptocurrency for a specific exchange direction. After investing in the pool, the user receives a percentage of the commission for the exchange in a particular direction, which is paid by other clients of the exchange. The percentage depends on the user's share of tokens in the total pool. You can withdraw your cryptocurrency from the pool at any time.

Advantages of UNI:

• The system is completely transparent, has an open source code.
• Support for multiple tokens ERC-20 for trading.
• The new token UNI opens up wide opportunities for protocol management.
• Instant token listing on major cryptoexchanges.
• UNI encourages liquidity providers by charging them commission fees.