What is Uniswap (UNI) ?

Inspired by Ethereum founder Vitalik Buterin, Hayden Adams founded uniswap in 2018. Uniswap (UNI) is an automated decentralized exchange developed to facilitate AMMs on Ethereum to a large number of users. Unlike the traditional order book system, the decentralized framework of Uniswap uses a liquidity pool for trading that operates on its automated market model.

UNI is the governance token of Uniswap, which was released in 2020,  facilitates community ownership of Uniswap protocols and their changes. The Total supply of Uniswap coins (UNI) is 1 Billion UNI with a circulating market supply of more than 58% of total supply, at the time of writing. Uniswap rewarded 400 UNI tokens to all those ETH addresses interacting with it before September 1, 2020, at the time of the UNI launch.

How does Uniswap (UNI) work?

Uniswap operates on an automated liquidity protocol that maintains the platform's liquidity by incentivizing the traders to provide liquidity. Prices of every token are decided through an automated math algorithm that sets the price value based on the demand and supply ratio. This automated system allows buyers and sellers to complete their trade directly without involving any middleman.

The users on the Uniswap platform can create new smart contracts to facilitate the exchange of new trading pairs and even provide liquidity to the platform by contributing their share of cryptocurrencies to get rewarded with UNI tokens.

If a user wants to swap any new ETH-20 token on uniswap. The user will have to send their chosen tokens to the Uniswap smart contract to calculate the amount of second token the user will receive based on real-time prices of the tokens.

To participate in the network, become a liquidity provider and contribute to the liquidity pool, the users must deposit both cryptocurrencies in the pool in equal amounts. Based on the contribution made, the user earns a portion of the fees collected by the pool in UNI tokens.

Furthermore, they can hold these UNI tokens to participate in the governance or decision-making in the Uniswap platform.

How to Buy Uniswap (UNI) in India?

There are many platforms where you can invest and trade Uniswap (UNI) in India.

One such platform is Flitpay. To buy UNI in INR, you have to sign up for the relevant application, where you will have to enter the required details and go through a small KYC verification process. After the KYC approval, make sure you have correctly entered your bank details. Now, through the linked bank account, deposit the amount you want to buy Uniswap (UNI), and execute the Uniswap (UNI) purchase.

You can instantly convert your INR to Uniswap (UNI) and Uniswap (UNI) to INR and withdraw your INR through bank transfers whenever you want. Flitpay also keeps introducing timely rewards for its users.

What to Do After I Buy a Uniswap coin?

Uniswap (UNI) is an ERC20 compatible token that can be used to buy other cryptocurrencies after converting them to INR through crypto exchange platforms like Flitpay.  You can also stake UNI till it reaches a high price and then sell it through Flitpay's OTC order facility. Users can earn significant profit from buying it at a lower price and selling it at a higher price. Lastly, UNI can also get you the governance rights on Uniswap DEX.

FAQs

What is Uniswap (UNI)?

UNI is an Ethereum-based governance token of one of the biggest decentralized Exchanges named Uniswap. It facilitates voting for the change in the automated transactions taking place on Uniswap DEX.

What is the Uniswap (UNI) price in India?

Check out the LIVE! INR price of Uniswap (UNI)  crypto in India on Flitpay.

Which is the best platform to buy Uniswap (UNI) in India?

The best crypto exchange to buy Uniswap (UNI) or your favorite cryptocurrencies in India is Flitpay. Flitpay supports instant UPI and bank deposits and bank withdrawals with a minimum deposit and withdrawal limit of INR 100.

What are the Benefits of Uniswap (UNI)?

Uniswap (UNI) gives the governance rights on the Uniswap protocol. This means that UNI holders can vote on changes related to the use of UNI's protocol fee, liquidity rules, and evolutionary trajectory.

Is it safe to invest in Uniswap (UNI) in India?

Yes, investing and trading Uniswap is Safe in India. Flitpay is one of India's most secure cryptocurrency exchanges to invest in UNI tokens. It offers the most real-time prices and advanced investing features.