Uniswap is a decentralized protocol running on the Ethereum (ETH) blockchain. Through automated liquidity provision, Uniswap gives users the ability to swap ERC-20 tokens on-chain, seamlessly.
Besides this, Uniswap enables users to earn a percentage of trading fees by supplying liquidity, known as “liquidity providers” (LPs). These fees become represented by LP tokens and are redeemable, at any time, for their underlying assets.
Through the usage of LPs, the liquidity problem experienced by the typical Decentralized-Exchange (DEX) becomes solved by allowing its users to swap between tokens – without relying on buyers and sellers to create that liquidity (an order book).
Not long ago, the idea of a DEX like Uniswap was every De-Fi users’ dream, and so now, you’re probably wondering: who created Uniswap?
Hayden Adams, creator of Uniswap
It was just under two years ago when Uniswap launched in November of 2018. Inspired by a post made by the ETH co-founder, Vitalik Buterin, the protocol was designed by Hayden Adams.
Before Adams was inspired to begin building the Uniswap protocol, he worked as a software engineer, where he performed simulations and engineering design explorations for clients in the aerospace and the automobile industry. Previously, Adams had interned as a mechanical engineer for Vista Wearable Incorporated, while also spending time as a researcher at Columbia University.
According to Adams, Uniswap began merely as a side-project. Through Uniswap’s creation, he was able to learn the required skills necessary to transition from a mechanical engineer to a developer in the cryptocurrency space.
Inspired by a post from Vitalik Buterin
When asked about his humble beginnings in blockchain, Adams had this to say: “A friend of mine from college ended up getting a job at the Ethereum Foundation. After I got laid off working as a mechanical engineer (July 2017), he convinced me to learn smart contract development. I was pretty bored at my engineering job, so (I) decided to give it a shot”.
It wasn’t an overnight success by any means. Adams continued building software, a team, and relationships that ultimately saw the Uniswap protocol achieve great success.
In two years, Uniswap has grown to be the largest & most popular DEX
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