The popular decentralized exchange, Uniswap, is having one of its latest governance proposals stonewalled by the crypto venture capital giant Andreesen Horowitz (a16z). The ongoing proposal vote, which ends on February 10, is currently 38% weighed against the change – almost entirely due to the software investor. So Much for Decentralization The proposal, tabled by 0xPlasma Labs on February 2, would have Uniswap v3 deployed to BNB chain. To enable the deployment, the proposal chose to use Wormhole – an…
DEX
What is SushiSwap (SUSHI) and How Does it Wok?
SushiSwap is a decentralized exchange (DEX) built on the Ethereum blockchain. It allows users to trade cryptocurrencies in a decentralized manner without the need for a centralized intermediary. The core feature of SushiSwap is its use of liquidity pools. A liquidity pool is a smart contract on the Ethereum blockchain that holds a pool of assets, such as ETH and a specific ERC-20 token. Users can add assets to the pool, creating liquidity, and in return, they receive liquidity provider…
3 weeks ago 80 views
What is UniSwap (UNI) and How Does it Work?
Uniswap (UNI) is a decentralized exchange (DEX) built on the Ethereum blockchain. It allows users to trade Ethereum-based tokens without needing a centralized intermediary. Uniswap uses a special liquidity provision, and a trading mechanism called an "automated market maker" (AMM). Instead of using order books to match buyers and sellers, as centralized exchanges do, Uniswap uses a mathematical algorithm to set the prices of tokens based on supply and demand. When a user wants to trade a token, they provide…
3 weeks ago 140 views
What is DEX?
A decentralized exchange (DEX) is a type of cryptocurrency exchange that operates decentralized, meaning it does not rely on a central authority to hold customers' funds and process trades. Instead, trades are executed using smart contracts on a blockchain network, which allows for increased security and anonymity for traders. DEXs have become popular in the cryptocurrency community because they offer a high degree of control and privacy and reduce the risk of hack attacks and other security breaches. Benefits of…
1 month ago 173 views