Uniswap is a decentralised protocol on Ethereum for swapping ERC20 tokens. Uniswap functions as a decentralised exchange with zero fees, unlike most other exchanges that take a commission for swapping tokens. Also in contrast to most exchanges that juxtapose buyers and sellers to determine prices and execute trades, Uniswap uses a simple mathematical equation and pools of tokens and ETH to perform the same function. UNI tokens give owners a vote on how to manage the Uniswap platform, completing many of its tasks.
Opportunities for traders
In September 2020, Uniswap launched its own UNI token. In the first week of trading, the token's value rose from $3 to $7, while its capitalisation amounted to $668 million, making the token very appealing for intraday trading.
UNIUSD's average intraday volatility is 30%.
How to buy and sell UNIUSD
You can buy and sell UNIUSD on specialised cryptocurrency exchanges. To trade it, it's better to use a broker and trading platforms. Such platforms include MetaTrader 4 or Libertex, where trades are easier to make, leverage can be used, and coins can be traded if the cryptocurrency's value goes down.