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Why Uniswap is Becoming the Only Exchange Listing That Matters

3y ago
bullish:

9

bearish:

1

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In the last year, Uniswap has risen to become one of the most successful decentralized applications (dApps) of all time — and has arguably heralded what many now consider to be the ‘age of decentralized finance’ in the cryptocurrency industry. 

Prior to the advent of Uniswap, cryptocurrency users were typically limited in the variety of exchanges that support their token/s of choice, and exchange listings were typically considered to be an indicator of success for a project — with many projects pay hundreds of thousands to potentially millions of dollars to secure listings on prominent exchange platforms. 

After all, between 2016 and 2019, getting listed on a tier-one exchange platform would often lead to a significant surge in interest surrounding the project, driving trading volumes through the roof, growing user metrics, and often resulting in significant appreciation in value for the token. 

But in 2020, this paradigm began to change, as permissionless decentralized exchange protocols like Uniswap, Balancer, 1inch, and the like, began to explode in popularity — since they not only allow swaps for practically any token with high liquidity and low fees, but they also give users the opportunity to play the role of a liquidity provider (LP) and earn a return on their idle assets for doing so.

With Uniswap’s daily trading volume now hitting more than $1 billion each day, it isn't just the largest decentralized exchange, but one of the most liquid exchanges period. Overall, Uniswap could be considered the fourth largest exchange by trading volume, when also include centralized platforms in the mix.

This has seen a wide variety of promising projects take steps to launch on Uniswap, even when doing so isn’t all that straightforward.

Take the online trading analytics and education platform NewsCrypto as an example. Despite initially launching the NewsCrypto Coin (NWC) as a Stellar token, the team behind the project recently launched NWC on the Ethereum blockchain as an ERC-20 token, thereby allowing it to list on Uniswap.

As a result, more people than ever before can now easily purchase and trade NWC tokens, while benefiting from Uniswap’s simple low fee, low slippage trading environment. This, without needing to wait around for time-consuming, costly centralized exchange listings. They also now gain the ability to act as liquidity providers on Uniswap — opening up an additional revenue stream that centralized exchanges simply do not offer.

Just two years ago, this simply wasn’t an option. Now, blockchain projects will be judged on their development, growth, utility, and community, rather than simply their capacity to secure listings on top exchange platforms — since liquidity concerns are now a thing of the past thanks to Uniswap. 

3y ago
bullish:

9

bearish:

1

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