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What Is Uniswap? Introduction to UNI Token

Uniswap is a decentralized exchange (DEX). It allows users to swap various Ethereum-based ERC-20 tokens from a simple web interface, as shown in the image below. Source: UniswapUniswap is currently the most popular DEX. It has $2.1 billion secured in its contracts as of October 2020, which accounts for 20% of all value locked in DeFi apps. It also has a daily trading volume of $263 million, which makes up about 95% of all DEX trading. Finally, it is the most popular DEX by usership, with 38,000 daily users. The platform was created in 2018 by Hayden Adams, an Ethereum…

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DeFi FOMO: Chinese Traders Mass Withdrawing BTC and ETH to DEXes for Yield Farming

Chinese traders are reportedly withdrawing their ETH, USDT, and crypto holdings in droves from centralized exchanges (CEXes) to decentralized exchanges (DEXes) for yield farming as per a tweet on Sep 7.  DeFi FOMO in China Following difficulties of coin withdrawal on Sep 6, a source reveals that a campaign was launched by affected persons, urging users to Read MoreRead More. The post by Dalmas Ngetich appeared first on BTCManager, Bitcoin, Blockchain & Cryptocurrency News

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Uniswap’s Daily Volume Just Overtook Coinbase by More than $80 Million

Uniswap’s 24-hour trading volume of $479 million outpaced Coinbase’s $397 million. This is the first instance of a decentralized exchange (DEX) facilitating more volume than crypto incumbent Coinbase. What Drives Uniswap? DeFi’s most liquid DEX, Uniswap, traded 21% more value than exchange heavyweight Coinbase in the last 24-hours. Coinbase is valued at $8 billion, while the DeFi-alternative recently raised an $11 million Series A investment. It’s no minor feat for a trading product in a fledgling ecosystem to out trade one of the largest exchanges in the industry. Critics have hit back by saying most of this trading volume comes…

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BitMEX Introduces KYC to Meet “Evolving Regulatory Standards”

BitMEX‘s new KYC policy requires all users to submit their personal information to the exchange by February 2021. This presents an opportunity for the exchange to cater to a broader customer base, and also creates a chance for DEXes to rise to the occasion and take over the non-KYC trading market. BitMEX Moves Towards Regulatory Standards The industry’s largest derivatives exchange announced KYC for all users starting from Aug. 28, 2020. BitMEX, an exchange that boasts close to a trillion dollars in yearly volume, is a haven for whales who want to bypass KYC while still trading millions of dollars…

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How Curve Finance’s CRV Token Launched Without Anyone Knowing

In a stunning turn of events, Curve Finance‘s highly anticipated token, CRV, was launched by an anonymous developer rather than its core team. The token is living up to market expectations with an absurd valuation, but many community members are disappointed by the way things were handled. Curve Finance’s Peculiar Launch One of the most anticipated token’s of 2020, Curve’s native governance token, was slated for launch in “early August 2020.” The project’s Telegram group was flooded with inquiries from excited users as to when the token would launch. Yesterday, Frank Topbottom, a crypto analyst on Twitter, said that Curve’s…

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DeFi Derivatives Exchange ‘Serum’ Lists on Top Exchanges Following $660,000 IEO

Serum, a new crypto derivatives exchange, is preparing to go live. Sam Bankman-Fried, an advisor on the project, says that the DeFi exchange will handle its first trade this week. 1) It's taken a huge effort from dozens of developers, designers, project managers, and community members; but things are coming together: I'm excited to say that the first trade on the Serum DEX will print this week.@ProjectSerum — SBF (@SBF_Alameda) August 11, 2020 Serum Arrives on the Market Today’s news also coincides with the listing of the Serum token (SRM) on several crypto exchanges. So far, SRM has been listed…

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1inch Exchange’s New DEX, Mooniswap, Can Improve LP Profits by 200%

Mooniswap, a new automated market maker (AMM) launched by 1inch exchange, helps liquidity providers double up as arbitrageurs and capture even more profits. Estimates conclude this can result in 50-200% more profits for LPs relative to Uniswap. 1inch Exchange Turns Liquidity Providers into Arbitrageurs Automated market makers are all the rage, but liquidity providers (LPs) suffer from impermanent loss of their holdings. Anton Bukov, a co-founder of 1inch exchange, dug into the data and discovered that arbitrageurs on Uniswap make more money than LPs do. Considering the risk LPs take on by depositing their tokens in a smart contract and…

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Uniswap Raises $11 Million from Top VCs, Token Imminent?

After a $1.8 million seed round in April 2019, the decentralized exchange (DEX) Uniswap raised another $11 million in a Series A funding round led by a16z to build v3 of the protocol. This has rekindled discussions regarding a potential governance token for the Uniswap protocol. Future of Uniswap Uniswap’s latest capital raise will be used to improve the protocol and build the third iteration of the DEX, which will dramatically enhance capital efficiency and add new features. The trading platform earned funding from eminent tech funds like a16z and Union Square Ventures alongside crypto native funds like Paradigm and…

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