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What is UNI?

Uniswap is a popular, fully decentralized cryptocurrency exchange that runs on the Ethereum Network. Unlike centralized exchanges, a decentralized exchange never holds your crypto. Instead, it utilizes smart contract algorithms to perform an automated exchange. Uniswap has undergone several generations of change and is currently operating on its third version.

Uniswap became popular for pioneering a trading concept called liquidity pools. Previous decentralized exchanges used the order book method, which meant that for a buy or sell order to go through, a waiting seller or buyer that could help complete the order is needed. Additionally, both the price and the quantity must match.

After operating for about a year, Uniswap created a governance token called UNI. A large amount of UNI tokens were distributed in an airdrop to anyone who had used the Uniswap platform before the snapshot date in September of 2020. As UNI tokens are governance tokens, they allow holders to vote on governance changes and funding proposals on the platform.

The importance of decentralized exchanges is projected to grow as the crypto space matures. More trading and transactions will likely become automated, and decentralized smart contract-powered platforms like Uniswap will be positioned perfectly to absorb this new potential source of trading revenue.

Why buy UNI with OKX?

What can I do after I buy UNI?

As UNI tokens have seen significant price volatility since their launch, investors looking to follow an active trading strategy might find them a suitable choice for capturing value during price swings.

For those looking to take a longer-term investment strategy with Uniswap, they will need to be aware of the platform's perpetual inflation rate of 2% per year, which starts after four years. This rewards active investors who stake their assets and participate in liquidity pools. On the other hand, passive investors will not benefit from the scheme and might even experience a loss in the value of their assets.

However, if Uniswap tokens are held in an exchange that provides interest like OKX Earn Program or a DeFi protocol, the 2% inflation rate could easily be reduced, counteracted or even surpassed.

OKX is the premier choice for buying, trading and selling Uniswap. The service was built to support the latest generation of digital assets, including classic blue-chip assets like Uniswap.

How to buy Cryptocurrency and store it safely?

Guide on how to buy Uniswap (UNI)

Buy Uniswap with your debit or credit card

With OKX, you can seamlessly buy crypto directly with the MasterCard or VISA debit and credit cards. The simplest way to purchase Uniswap tokens with a credit or debit card is to buy USDT and then exchange it for Uniswap in the spot market.

Buy Uniswap with bank transfer

OKX also allows users to buy crypto like Uniswap through direct bank transfers. Input your desired amount and send money from your bank account to complete your purchase. If your local fiat currency is not paired with Uniswap, acquire USDT via bank transfer and trade it to buy Uniswap using OKX spot trading.

Hold or trade Uniswap

If you want to hold your purchased Uniswap tokens long-term, you can store them safely in your OKX wallet. If you wish to trade, our spot trading page allows you to do so with various order types.

FAQs

What is a governance token?
Decentralized applications that want to operate in a headless way (no central office or leadership) still need guidance on how their platform will evolve and change over time. Governance tokens allow these platforms to do this. Holders of the token are given voting rights on proposals and, in many cases, can earn a return based on the profits generated by the platform. In some ways, a governance token is very similar to a traditional stock share.
What is Uniswap's 2% inflation plan?
Uniswap will introduce a 2% inflation scheme, creating and releasing new Uniswap tokens onto the market. The move is to fund the platform's operation and encourage Uniswap holders to stake their Uniswap to capture some of this inflation as yield. However, the inflation plan will not benefit passive Uniswap holders as their token value will be diluted by 2% annually.
Will Ethereum network fees always be a problem for Uniswap?
Most likely not. The Ethereum Foundation guiding the development of the platform has leaders who have openly stated that they are working to lower transaction fees while still maintaining security. However, there is no clear timeline for exactly when this will happen.
What are the most popular cryptocurrencies to invest in today?
Top crypto, based on market capitalization or total circulation value, include Bitcoin (BTC), Ethereum (ETH), Tether (USDT), USD Coin (USDC), and XRP (XRP).
However, like all other crypto, the above are also featured with volatility and risks. You should do your own research (DYOR) and evaluate your risk appetite before investing in any crypto.
What are the top cryptocurrencies I can buy on OKX now?
OKX provides access to hundreds of crypto and trading pairings. Some of the most popular crypto on OKX include BTC, ETH, USDT, DOGE, SOL and OKB. You can visit our brand-new OKX Crypto Calculator. Select a crypto and a fiat currency to check the estimated real-time price.