Uniswap is one of the most popular DeFi projects on Ethereum recently. Let’s talk about why is it so popular?
Data from CoinGecko shows that the price of Sta has risen from 0.00001 yuan to about 1 yuan, almost 100,000 times increase. Hundred times increase is rare in nowadays market, not to mention thousand or even ten thousand increase, but it is happening on Uniswap.
What is Uniswap?
Uniswap is a decentralized exchange based on the Ethereum blockchain. It supports fast swap between ETH and Erc20 Token, Erc20 Token and Erc20 Token. It essentially is a fast swap tool for Erc20 Token.
The following an operation process of using Uniswap to swap tokens through HyperPay on-chain wallet.
1. Create or import an on-chain wallet in HyperPay. When creating the on-chain wallet, please be sure to save your mnemonic phrase and private key, do not leak them. Enter the ETH on-chain wallet page, and you can receive the ETH assets you need through the Receive function.
2. Click DApp and find Uniswap. (HyperPay will include mainstream DeFi DApps in the market in a timely manner, so that users can experience diverse DeFi projects in the first time)
3. Uniswap has two main functions: “Swap”and “Pool”
Here you can choose ETH or other any tokens to swap for each other. Output from one token to swap the token youwant. Take aDAI as an example here (it is recommended to enter the contract address to search token).
4. After clicking “Swap”, the details will pop up. The details include the number of tokens you can receive, price slippage, and gas fee. Please note that the value of gas will fluctuate. Click “Swap”button and enter the wallet password to complete the operation immediately.
5. In “Pool”, you can click “Add Liquidity” to select the exchange pairsuch as aDAI/ETH to set up, deposit in the pool to increase the liquidity of the tokens, in order to obtain more fee income.
Ps: Uniswap can quickly get started for any DeFi user, whether it is a newbie or a veteran. Uniswap V2 and V1 are available to switch to use. The most popular FYII staking is also applicable to Uniswap. You can use Uniswap to swap from ETH to DAI, and then use Balancer to collateral assets to generate BPT to start FYII staking. Its worth mentioning that HyperPay has also launched Balancer simultaneously!