What is UNI? What is UNI coin

The UNI coin serves as a governance token, enabling holders to influence decisions regarding the Uniswap protocol's evolution and fee structure.

Oct 03, 2024 at 10:42 am

1. What is UNI?

Uniswap is a decentralized exchange (DEX) protocol that allows users to trade cryptocurrencies without the need for a centralized intermediary. The UNI token is the native token of the Uniswap protocol, and it is used to govern the protocol and incentivize liquidity providers.

2. How does Uniswap work?

Uniswap is a peer-to-peer (P2P) exchange, meaning that users trade directly with each other without the need for a middleman. The exchange uses an automated market maker (AMM) model, which uses algorithms to determine the price of cryptocurrencies based on their supply and demand.

3. What is the UNI coin?

The UNI coin is a governance token for the Uniswap protocol. It gives holders the right to vote on changes to the protocol, such as proposed upgrades or changes to the fee structure. UNI token holders also receive a portion of the fees generated by the Uniswap protocol.

4. What are the benefits of using UNI?

There are several benefits to using UNI, including:

• Governance rights: UNI token holders have the right to vote on changes to the Uniswap protocol.
• Liquidity provider incentives: UNI token holders can earn rewards for providing liquidity to the Uniswap protocol.
• Trading fees: UNI token holders receive a portion of the fees generated by the Uniswap protocol.

5. Where can I buy UNI?

UNI is available for purchase on a number of cryptocurrency exchanges, including Binance, Coinbase, and Kraken.