Let's Talk about Uniswap
By the time I am writing this post I believe almost everyone has come to know about Uniswap and their UNI token that was recently Airdropped to a lot of people who met certain criteria and a lot of people made a lot of money but sadly I was not one of them. Yes, I did not join in on the Defi game and it's not like I wasn't interested but it's because I had very little time to read about things currently going around.
Truth be told I have no clue what Defi is and what is the principle behind it so yeah I feel like after losing like 1000 USD I might just look into this whole Defi movement.
So what is UNISWAP?
UNISWAP is basically an Ethereum based Exchange that allows any user to swap any ERC20 Tokens. But instead of taking any fees for that they just don't. Plus its slightly different from traditional Exchanges where basically a Buyer meets a Seller or Viceversa. In UNISWAP the exchange is governed by a Liquidity Pool and an Equation so you can say that a user whether he/she is Buying/Selling is never interacting with their Buyer/Seller directly. The plus point to this is to get a good enough constant price to the Token itself.
On September 2020 UNISWAP launched its UNI token which was Airdropped to any user who used their platform before September and this is where all the hype came in. The price of the token was around 3 USD at the time of launch and a lot of people including me thought it would plummet soon but instead, it went as high as 6 USD and now is standing at 4 USD approx. So you can say a lot of guys made a lot of money out of this and I am very sad because I was not one of them.