What is Uniswap?

Modified on Sat, 18 Feb 2023 at 03:54 PM

Uniswap is an Exchange platform for ERC20 to ERC20, for example, Ethereum (ETH), Basic Attention Token (BAT), or OmiseGO (OMG). Uniswap is built on the Ethereum blockchain and uses smart contracts to exchange tokens. The ETH is used as a medium when exchanging with a gas fee estimated to be around 0.3% of the exchanged value.

Users can also provide ERC20 tokens to the platform to support liquidity. In return, they will receive the commission fee in form of the gas fee.

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