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⏰ Time Stamps ⏰
1:36 What is Uniswap?
3:50 Platform Overview
6:48 Performing a Live Swap
8:42 Pooling Funds
12:09 Pooling Strategies
13:00 Uniswap Analytics Website
14:27 Uniswap Version 2 Updates
17:08 Flash Swap Features
⛓️ 🔗 Project Links 🔗 ⛓️
► Website: https://uniswap.exchange/
► Main Website: https://uniswap.org/
► Data Website: https://uniswap.info/
► Docs: https://uniswap.org/docs/v2
► GitHub: https://github.com/Uniswap
► Whitepaper: https://github.com/Uniswap
📰 Resources 📰
► Flash Loan Attack: https://www.coindesk.com/everything-you-ever-wanted-to-know-about-the-defi-flash-loan-attack
► Paradigm Backing: https://finance.yahoo.com/news/paradigm-backs-decentralized-exchange-protocol-184824051.html
► Defipulse: http://defipulse.com/
📝 Uniswap Overview 📝
Uniswap is a decentralised application or dApp that facilitates the onchain exchange of ERC20 tokens. It is more colloquially known as a decentralised exchange or a Dex. You control your keys and you do not have to rely on another third party to operate with honesty when facilitating a transaction.
Trading is all done through a Web 3.0 wallet like a Metamask or a ledger that connects through the browser. Your wallet will use the Uniswap smart contracts in order to interact with the Etheruem network and confirm the operations.
It’s fully open source and last year they raised some seed funding from Paragigm ventures. Uniswap has seen an explosion in trading activity and volumes.
Uniswap just recently released version 2 of their protocol. This has a number of exciting features and improvements over the first iteration of the platform.
📈️ Uniswap Features 📈
Pricing at Uniswap works a bit differently in than on other exchanges. It comes down to three things:
– Liquidity provider fees (you will be charged a 0.3% fee)
– Slippage (amount by which the price will change)
– Price Impact (order is likely to move price)
These features will update the final price that you are likely to get on your trade but it is not *guaranteed*. You can set your max slippage tolerance and if the trade goes beyond this point then it will not be executed.
💻 Functionality 💻
You have three main functions at Uniswap. These are the swap, send and the Pool. When you are swapping you are making an exchange on chain between two different ERC20 tokens.
When you use the send, you can send someone else another ERC20 token that you do not hold. This conversion is done over at uniswap initially. Pool allows you to commit your own tokens to provide a liquidity pool for other traders to trade and you can take part in the trading fees (0.3% split between).
If you are going to be providing liqudity to the pool then you also have to have a bit of strategy as to how you do it. You will only want to be providing liquidity to those that token pairs that you expect a whole host of trading volume.
You can use the analytics website to get an idea of which pools need demand and which are already quite full. If you are going to swap and version 2 does not have the liquidity then you can still use version 1 as it is live for as long as Etheruem is.
👨🏼💻 Version 2 Features 👨🏼💻
With Uniswap version 2, their oracle design should be resistant to these type of flash loan attacks. They are looking to implement a time weighted oracle service that could make it harder to shift prices in a short period.
Flash swaps which have similar functionality to flash loans. These allow users to borrow as many ERC20 tokens as they want with no upfront cost and then use these tokens to do whatever they want. This is all as long as at the end of the transaction, they return the funds.
The real opportunity here is that in-between step where users can do whatever they want with the funds. So, if you see that there is a mispricing on some other protocol and you want to take advantage or “arbitrage” out that mispricing then you can do that.
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading Forex, cryptocurrencies and CFDs poses considerable risk of loss. The speaker does not guarantee any particular outcome.
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