UNI/USD represents the pairing of two currencies, the token of Uniswap, UNI, with the US dollar. Written as well as UNI to USD, UNI USD or additional variants, the pair is a shorthand way to describe the trading on one UNI token for their value in dollars. UNIs were launched in September 2020, two years after Uniswap itself, a decentralized Ethereum-based finance protocol, which was founded by a former engineer at Siemens, Hayden Adams. The company aims to simplify swapping tokens without an orderbook or intermediary. UNI is the governance token of Uniswap, and it has had an incredible rise since its release. You can buy and sell UNI for US dollars on eToroX, taking advantage of a variety of trading tools such as UNI vs USD converters, historical data and other charts. Learn more about UNI now on eToroX, the professional digital asset exchange of eToro.
eToroX was created, in 2019, to address the needs of experienced, high-level crypto investors. Part of the innovative eToro Group, eToroX goes beyond other platforms to offer a digital-only approach to trading and investing, with the advanced tools and sophisticated research and analysis that professional cryptocurrency investors seek. Amongst eToroX’s features include highly competitive fees on withdrawals with no fees on deposits, Gibraltar Financial Services Commission (GFSC) regulation, 24-hour investing, access to a wide selection of cryptoassets (both the “traditional” digital assets such as Bitcoin and Litecoin, and the newer names in the sector such as ONT, CHZ and AXS), a fiat gateway, and a credit line for those traders requesting additional liquidity. While this list only touches on the features of eToroX, safety, security and transparency are hallmarks. This keen focus on the needs of crypto investors gives eToroX users a highly responsive exchange ideal for UNI/USD investing.
Uni is Uniswap’s native (governance) token and a tradeable cryptoasset. At genesis, 1 billion UNI tokens were created. From the beginning, 60 percent of the coins went straight into the hands of Uniswap users. The remaining 40 percent were tagged to be distributed within the Uniswap community as well as to investors, developers, and other parties. Some of this latter 40 percent is made available through liquidity mining on the Uniswap network. Uniswap is an Ethereum-based open-source software program that works as a decentralized exchange (DEX) and automated market maker (AMM) where traders can swap cryptocurrency tokens without the use of trusted intermediaries. Users earn fees in UNI tokens by exchanging or lending their crypto to other users on the network. This is done via liquidity pools, backed by sophisticated mathematical formulas and occurring and smart contracts, which operate without intervention, automatically, thus explaining why UNI is considered an automated liquidity protocol.
Pioneering the AMM model, Uniswap
For the first four months following its release, UNI’s price hovered below $7 (1 UNI to USD), with an all-time low of just over $1. Early in 2021, UNI rose quickly, reaching over $40 in April of the year, and extending to pennies shy of $45 to reach its as-yet all-time high in early May. For the remainder of 2021, however, the token lost value, closing out 2021 at just under 18 UNI/USD. As with all investments, it is impossible to gauge how the UNI USD pair will react going forward. Still, Uniswap is a leader in the DEX space and could continue to hold a unique place in the market.
When investing in crypto, eToroX offers a diverse and robust product suite. In addition to UNI to USD, you can trade a large selection of cryptoassets backed by tools and services to help you as you buy and sell crypto. Amongst them are a Maker-Taker inverted fee model, a spot-trading credit line for traders interested in gaining extra liquidity, and a focus on maintaining security and safety with leading methods in place against cyber hacking and other types of digital security risks. eToroX investors will enjoy a highly competitive fee structure including fee-free deposits and a UNI withdrawal fee of 0.10000. To find out more about UNI/USD trading on eToroX, visit etorox exchange for charts, historical prices, and current UNI USD news and analysis.