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Uniswap in the Ethereum Blockchain
Summary: Uniswap and SushiSwap, built on the Ethereum blockchain, are two decentralized exchanges that are in competition with one another. There are many key differences between the two, such as the fact that UNI has been around for a longer period of time, and deals with more volume. SUSHI, in comparison, contains some one-of-a-kind features, like ...
Uniswap and SushiSwap, built on the Ethereum blockchain, are two decentralized exchanges that are in competition with one another. There are many key differences between the two, such as the fact that UNI has been around for a longer period of time, and deals with more volume. SUSHI, in comparison, contains some one-of-a-kind features, like a yield farming platform as well as bonuses for token holders.
There are many other key differences between Uniswap and SushiSwap. In terms of liquidity mining, SushiSwap still offers it. Uniswap, on the other hand, gave it out, but decided to discontinue sometime after the program came out. Uniswap creator Hayden Adams made the announcement that liquid mining would someday come back to the platform, but it still remains uncertain regarding a specific date.
"I think it's going to be very soon," Hayden Adams stated in an interview broadcast in May 2021 to close out Consensus 2021. "One thing that we've seen in the past couple of weeks is basically a grant from the Uniswap grants program, which comes from governance, that was ... issued to someone who's working on liquidity mining smart contracts. And so we're kind of seeing the community build this out."
Uniswap also has many other competitors, such as PancakeSwap. Introduced on September 20, 2020, PancakeSwap is essentially an automated market maker (AMM) that permits users of cryptocurrency to trade tokens and offer liquidity. Since Uniswap essentially influenced PancakeSwap, many of each of their key components is similar to one another. The key difference between PancakeSwap and Uniswap is that PancakeSwap operates on Binance smart chain, while Uniswap runs on Ethereum blockchains.
According to data from Defi Llama, as of press time, Uniswap exhanges are also much further along than PancakeSwap or other exchange types, given that the total value locked (TVL) in Uniswap has reached a point of $8.83 billion. PancakeSwap, on the other hand, is still on the rise, and contains about $5.51 billion TVL.
Tags: Ethereum,PancakeSwap,Sushiswap,Uniswap
Link: Uniswap in the Ethereum Blockchain [Copy]
