Uniswap

Automated Decentralized Market Maker

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Trust / Trustless

• While trustless is defined by Merriam Webster as “not deserving of trust,” in the blockchain space it means something entirely different.

• Trustlessness in the blockchain industry simply means you do not need to place your sole trust in any one stranger, institution, or other third party in order for a network or payment system to function.

• Trustless systems work and achieve consensus mainly through the code, asymmetric cryptography, and protocols of the blockchain network itself.

• The trustless environments that blockchains have created enable the peer-to-peer (P2P) sending and receiving of transactions, smart contract agreements, and more.

What is Uniswap?

• The Uniswap Protocol is an open-source protocol for providing liquidity and trading ERC20 tokens on the Ethereum ecosystem.

• NOTE: Our Token PolySky is an ERC20 Token.

• It eliminates trusted intermediaries and unnecessary forms of rent extraction, allowing for safe, accessible, and efficient exchange activity.

• The protocol is non-upgradable and designed to be censorship resistant.

How does Uniswap Protocol work?

• Uniswap is an automated market maker.

• In practical terms, it is a collection of smart contracts that define a standard way to create liquidity pools, provide liquidity, and swap assets.

• Each liquidity pool contains two assets.

• The pools keep track of aggregate liquidity reserves and the pre-defined pricing strategies set by liquidity providers.

• Reserves and prices are updated automatically every time someone trades.

• There is no central order book, no third-party custody, and no private order matching engine.

• VERY UNIQUE TRUSTLESS FEATURE: Because reserves are automatically rebalanced after each trade, a Uniswap pool can always be used to buy or sell a token.

• i.e. in other words...unlike traditional exchanges, traders do not need to match with individual counterparties to complete a trade.

Uniswap Protocol Governance

Governance | Uniswap ProtocolUniswap Protocol

Uniswap v4

Uniswap v4: An Analysis of the New FeaturesCryptoGlobe

...see also Governance (internal)

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