February 27, 2019, 9:09PM EST
• 11 min read

Uniswap: Ethereum's unicorn

Quick Take

  • Uniswap has quickly positioned itself as a leading decentralized exchange, outcompeting 0x relayers and Bancor for liquidity and volume
  • Uniswap’s Automated Market Maker model allows anyone to contribute liquidity in return for a 0.3 percent fee on each trade
  • While liquidity provider returns have been strong to date, the threat of ‘impermanent loss’ threatens to destabilize ROI

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