Our Ranking
What is Exceed Me?
Comparable to - ETrade, TD Ameritrade, Fidelity
Simple Explanation - Uniswap was made to be a fully digital exchange that allows those with crypto coins to pool their coins together in order to make trades on the Ethereum network. The current state requires anyone with coins that want to trade to do so through an exchange that is managed by one entity, that requires all coins be given to them and then traded through a traditional model. This traditional trading model can be thought of as two columns. One column has the buyer, requesting a specific coin, and the other has the seller selling a specific coin. Once the buyer and seller see that they are looking for the same thing they are paired together and ta-da a trade occurs. The problem is that a buyer and seller must wait to be paired together to complete a transaction. Uniswap allows users to pool coins together to create a fund available for exchange that can be done in one simple place without one entity having total control.
A crypto experts explanation - A fully decentralized, open source, exchange using automated liquidity pools to allow traders to exchange coins on the Ethereum blockchain. Crypto trading normally takes place on centralized exchanges governed by an authority that requires users to place funds under their control where they will use a traditional trading model and facilitate the trading of tokens and coins. A traditional trading model, or order book-based trading, is dependent on a buy order being matched with a sell order. Think of two columns where one person will say they want to sell one bitcoin. In order to sell they must be matched with a buyer in the other column who equally wants to buy one bitcoin. This issue with this model is liquidity or the number of orders there are in each column to buy and or sell. If traders do not see a matching order then they are unable to trade until they do. Uniswap was built to combat the liquidity problem, by incentivizing users trading on the exchange to become liquid providers. Meaning that Uniswap users will pool money together to create a fund that then executes all trades on the platform. Since Uniswap is on the Ethereum blockchain users can trade any ERC20 token. Each token is listed with its own pool that allows traders to contribute too. A price for that token is then generated by a computer-based math algorithm and users can instantly buy or sell at that known price as long as there’s enough liquidity in that token’s pool. The ticker symbol for Uniswap is UNI, an ERC20 token, that is known as a governance token. By owning this token, holders can vote on new developments and platform changes such as fee structures.
How to Use
Uniswap your tokens for literally ANY exotic token on the network, Polygon compatible! (https://app.uniswap.org/#/swap). Provide liquidity for trading pairs. Caution: EXTREME risk of impermanent loss! (https://app.uniswap.org/#/pool). Vote on Uniswap governance issues at https://uniswap.org/governance.
Why we like it.
Polygon solves many of the problems that are prevalent in the Ethereum Network. It runs in parallel to Ethereum and is working on allowing all of the tokens on Ethereum to be traded on Polygons network. This means more access for more people. It does everything Ethereum will do, but it will save the user 99% or more per trade. It is also 650% faster than the biggest network in the world. It has also proven itself as one of the leaders in the Web 3.0 world and its Decentralized. Which means, if it manages to maintain its growth, It will be one of the biggest companies in the emerging Web 3.0 world. We recommend holding it as a core piece of your digital asset portfolio that is low risk and high yield. It also is what we have decided to use as the core utility token for trading on our platform.