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Choose your quick section of our Uniswap review below.
A Quick Overview of our Uniswap Review:
Uniswap offers new projects with valuable liquidity and there is more than 20 billion ZAR locked in liquidity and smart contracts.
What is Uniswap?
Uniswap is a popular cryptocurrency projects that takes a different approach by allowing users to complete trades without an intermediary. This prevents censorship and is at the core of decentralisation, meaning that nothing prevents a user from executing a sale. Uniswap relies on rigorous auditing procedures to ensure legitimacy, great levels of security, and the use of smart contracts.
Key Features and Takeaways of Uniswap
As an open-source, decentralised exchange (DEX) for both traders and liquidity providers, Uniswap has the following key features and takeaways:
Uniswap offers a variety of valuable services that ensures that it remains unique in a competitive, ever-expanding market where new projects are emerging rapidly, with Uniswap as the top DEX exchange in terms of locked funds.
Uniswap has seen a quick rise to fame in the crypto space as result of a variety of reasons including allowing users to swap ERC20 tokens in a manner which is trustless.
Uniswap caters for its growing community of token users, allowing them to execute various critical functions using its protocol, creating a token exchange by using smart contracts.
With Uniswap, anyone can participate in the exchange of tokens, adding tokens to a pool in exchange for rewards, or to list a token on Uniswap.
Uniswap offers new projects with valuable liquidity and there is more than 20 billion ZAR locked in liquidity and smart contracts.
Uniswap does not have any listing fees and it offers the most cost-efficient approach for Startups who need access to funds.
Uniswap allows for anyone to build an interface on the platform, connecting directly to Ethereum’s smart contracts. This allows for users to start exchanging within the Uniswap community within a matter of minutes, without having to wait for a counterparty.
Uniswap is also known as an Automated Market Maker (AMM), which means that prices are set automatically using a special, deterministic algorithm that helps to keep the entire ecosystem balanced.
The price of the Uniswap native token, UNI, increases asymptotically as the desired amount increases, with UNI causally related to the order quantity.
There are two types of smart contracts that the Uniswap platform and ecosystem rely on namely a factory and exchange contract. The purpose of the exchange contract is to hold a pool consisting of specific tokens and Ether while the Factory contract are how users create new exchange contracts.
There are three major functions that users employ when they navigate Uniswap, with tasks requiring Gas to accomplish and initiate smart contracts.
Uniswap Mining
The mining procedure involved with Uniswap is known as a liquidity mining protocol and program which went live in September and ended in November 2025. Uniswap announced that there will be 5 million UNI allocated per pool to providers of liquidity, translating to 83 333.33 UNI per pool, per day, and 13.5 UNI per pool, per block.
The four liquidity mining pools that allowed for UNI mining were:
ETH/WBTC
ETH/USDT
ETH/DAI
ETH USDC
What is Liquidity mining?
This is a term that is used often in decentralised finance (DeFi) where users supply liquidity to decentralised applications (DApps) in exchange for rewards in doing so. Where Uniswap is concerned, liquidity mining refers to Liquidity Providers (LPs) who supply assets to a given trading pair market so that the protocol can execute various trades.
Once liquidity is deposited into a pool, there are special tokens minted to the LPs address, proportional to the amount of liquidity that they contributed. These tokens represent the LPs contribution and whenever a trade is executed, the 0.3% fee is levied and distributed pro-rata to all LPs in the pool at the exact moment of the trade.
Once the LP claims their assets back from the protocol, they can claim their fees. Apart from receiving trading fees in providing liquidity to the platform, LPs are also eligible markets that will receive UNI tokens for the service that they provide, proportional to their contributed.
The UNI and Ether that is earned through liquidity mining are not subjected to vesting or to lock-up. Of the 1 Billion UNI tokens, there is 60% (600,000,000 UNI) which is allocated to the community, with 15% already distributed to historical users as well as liquidity providers.
Potential use cases for UNI
Uniswap is a leading DEX where volume and liquidity is concerned, with the development team tirelessly working on Uniswap Version 3 which will increase the use cases of the UNI token. The main function of UNI is to govern the Uniswap protocol, with the future of the token in the capable hands of its liquidity providers and users.
There are two use cases for UNI namely:
Using it for voting and governance of the platform.
Adding liquidity to Uniswap and to start earning UNI tokens.
The Uniswap platform is upgraded as well as governed by UNI holders through three different models namely governance, the UNI token, and Timelock. All these contracts allow the community to vote, propose, and subsequently implement changes in the protocol.
When a proposal is presented, the community has three days to vote and if the majority support the request, it is queued in the Timelock. Once a proposal enters Timelock, it takes a minimum of two days before the proposal is executed.
Pros and Cons
| ✔️Pros | ❌Cons |
|---|---|
| Uniswap encourages liquidity providers by offering them with trading fees for their services rendered | Once users withdraw their liquidity, it no longer receives remuneration |
| There is no “know your client” process and Uniswap is truly decentralised | Uniswap only supports assets that are hosted on the Ethereum blockchain |
| Uniswap has full transparency and an open-source code | |
| Uniswap supports a large variety of ERC20 tokens which can be exchanged | |
| UNI opens a variety of opportunities for protocol management | |
| Instant token listing on major cryptocurrency exchange trading platforms |
Transaction Fees
| Type of Fee | Information |
|---|---|
| Trading Fees | 0.3% fee to trade on the platform |
| Withdrawal Fees | 0.26 UNI |
Should you buy Uniswap?
When considering the direction of the cryptocurrency market, platforms such as Uniswap is geared towards success. The DEX movement has more momentum than it has ever experienced and the ERC20 token standard still dominates the market, despite the variety of other blockchains that allow for the development and execution of DApps.
Uniswap caters for a variety of niche sectors, making it the perfect option for long- and short-term investors. Investors can expect to see continuous development alongside the blossoming of the ERC20 community in coming months and years.
Uniswap allows for Startups to gain access to liquidity and through its open-nature, Uniswap makes decentralised finance an instant classic. Seeing that it is free for users to list their tokens, Uniswap is also rapidly becoming the DeFi token exchange of choice among many traders.
In addition to this, Uniswap has several partnerships and investors who back it, including:
Rockaway Blockchain Fund
SV Angel
Capital Ventures
Version One Ventures, and more.
Uniswap is a reputable platform that has provided its services for some time. There are, however, some concerns concerned with the profit plan and security of the platform. Even though there are others that have higher profit rates, Uniswap is a stable platform that guarantees users the best service.
According to many price predictions, Uniswap is set to increase in the next few years even if the pace is slow. Slow progression is as result of several factors including low yield features and high interest, especially when compared to newer specialised yield farming platforms.
However, despite this, Uniswap still has a large trading volume which covers a large portion of market share, ensuring that the price will go up long-term.
How to buy Uniswap (UNI)
Step 1 – Open an account on Binance
Navigate to the official Binance website and select “Register Now”. You will be redirected to a “Create a Free Account” where you can either register with your email address or your mobile number.
You can enter your email address and user-selected password or select the “Mobile” option at the top of the form. Select your country code and enter your mobile number along with your user-selected password.
Once you have completed the necessary fields, you can read and accept the Terms of Service before selecting “Create an Account”.
You may have to complete a Security Verification that will confirm that you are not a robot. Next, there is an account verification. During this, a 6-digit verification code is sent to the email address or mobile number that you provided. The code is only valid for 30 minutes and must be entered in the blocks provided on this page.
Once the verification is completed, a welcome page will load, and you will be given the options through which you can either trade or purchase cryptocurrency. If you are new to crypto, you can visit the “Learn More” Section at the bottom of the page.
Step 2 – Secure account with two-factor verification
On the trader’s dashboard, select the option to secure your account with two-factor verification. Even though phone verification is a secure option, the most preferred and secured method is to make use of the Google Authenticator.
Once downloaded and installed, either scan the QR code or type in the one-time, unique code provided to add your Binance account credentials onto Google Authenticator.
Once completed, write down the back up key provided to recover your account on Google Authenticator in case you lose or misplace it. In the final step, enter the 6-digit code which you will receive on your registered email address along with the Google verification code.
Step 3 – Deposit funds
Binance allows for the purchase of cryptocurrencies via fiat deposits as well as cryptos. Deposits can be accessed from the following locations:
The “Welcome to Binance” banner.
Hovering over “Buy Crypto” at the top of the webpage and selecting your preferred method.
Selecting “Deposit” on the “balance details” section on your traders dashboard.
Once you have selected the option to “Deposit”, you can select whether you wish to deposit cryptocurrencies from another wallet, or whether you want to make a fiat deposit.
For Crypto deposits, follow these steps:
Select your coin between Bitcoin, Ethereum, TetherUS, BNB, or ETC.
Select the network to be used between BEP2, BEP20 (BSC), ERC20, or TRC20 and accept the conditions for using the network.
Copy the address or scan the address QR code from the wallet where you are depositing and follow further prompts. Kindly note that each network has its own set of network confirmations between 1 up to 15 confirmations before the deposit will be done.
For deposits in Fiat currencies, follow these steps:
Select the deposit currency from the dropdown list. To gain access to more currencies, it is necessary to verify your identity and face.
Select the payment method to be used, depending on the currency chosen.
Enter the deposit amount and any other details. Kindly note that the transaction fee will be displayed along with the balance after this is subtracted.
Continue with the deposit.
Step 4 – Start Trading
Once you have completed your deposit, you can navigate to the “Markets” section at the top of the page to view the available cryptocurrencies. From here, you can buy, sell, and trade currencies at competitive prices.
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Frequently Asked Questions
When was Uniswap first launched?
Uniswap was first launched in 2019.
Who founded Uniswap?
Uniswap was created by Hayden Adams, a mechanical engineer who started the decentralised finance project as his largest investment. Adams still holds the position of founder and CEO of the platform to this day.
What is “ICO”?
It is Initial Coin Offering that, unlike an IPO, does not mean that those who invest in the cryptocurrency will have an ownership stake of the company that they provide funds to.
When was Uniswap’s ICO and how much did it raise?
Uniswap did not hold an ICO, with tokens set to be distributed according to a set release schedule.
Is Uniswap legit?
Yes, Uniswap is legit.
What is Uniswap’s total supply?
There is a total supply of one billion UNI tokens.
What is the purpose of Uniswap?
It is designed to function as a public good and tool for the community to trade tokens without being subjected to platform fees or intermediaries.
On which blockchain is Uniswap based?
Uniswap is based on the Ethereum blockchain.
Does Uniswap work with smart contracts?
As an automated market maker protocol, Uniswap is run entirely on smart contracts.
Does Uniswap have potential to become more valuable?
Yes, even though progress is slow, Uniswap has the potential to become more valuable long-term.
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