Uniswap has come to the forefront of the DeFi field. This is a comprehensive and easy-to-follow tutorial guide on how to swap tokens using Uniswap wallet
The cryptocurrency field is going through different phases every year, and thatโs only logical. As the industry progresses, more people get involved in it, bringing new solutions and technology to the table.
In 2020, itโs safe to say that the hottest crypto trend is Decentralized Finance (DeFi). In a matter of months, this became the most widely discussed topic within the cryptocurrency community and rightfully so.
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New DeFi projects are appearing daily, and it does bring a certain 2017-like appeal to it. At the forefront of all, this is a protocol that also surged in popularity โ Uniswap. Below, weโll take a look at how to use Uniswap in a step-by-step manner.
Whatโs Uniswap and why is it so innovative?
In a detailed guide on Uniswap, CryptoPotato went in-depth on the technicalities and functionalities of the protocol.
To sum it up in Laymanโs terms, Uniswap wallet is a protocol that enables buyers and sellers to swap ERC20 tokens without having to use an exchange or an order book. It uses an algorithmic equation that determines the swap rate based on the balances of both tokens and the actual demand for this swapping pair.
In essence, Uniswap brings forth a very user-friendly interface and allows traders to swap their tokens without having to worry about any KYC procedures or even having an account, for that matter.
Uniswap also brings forward automated liquidity provisioning, but for the technicalities on that, weโd recommend reading our What is Uniswap in Simple Words guide.
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