Hayden Adams, founding father of the brand new decentralized alternate Uniswap, discusses how Uniswap differs from a standard alternate based mostly on order books, how market the contract determines the worth of the tokens, and the way market making on Uniswap is comparable, when it comes to cost, to taking part in a mining pool. He covers underneath which situations it’s {that a} market maker will earn revenue, what charges go towards in Uniswap, and the way the contract capabilities because the greenback values of every token in a liquidity pair fluctuate. He describes how Uniswap rapidly grew to become one of many greatest decentralized exchanges on Ethereum since its launch in November, why gasoline charges are decrease on Uniswap than different dexes, and the way new tokens get listed on Uniswap. Plus, he talks about what regulatory danger he faces, how he plans to become profitable off the dex, and what he thinks of the concept that Dan Elitzer described in final week’s Unconfirmed — individuals utilizing the Uniswap liquidity pair tokens as collateral for loans.

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CipherTrace: http://ciphertrace.com/unconfirmed

Episode hyperlinks:

Uniswap: https://uniswap.io

Uniswap on Twitter: https://twitter.com/UniswapExchange

Hayden: https://twitter.com/haydenzadams

Explanations of Uniswap:

Excessive degree overview by Cyrus Younessi of Scalar Capital: https://medium.com/scalar-capital/uniswap-a-unique-exchange-f4ef44f807bf

One other by Ross Bulat:  https://medium.com/@rossbulat/uniswap-understanding-the-decentralised-ethereum-exchange-5ee5d7878996

Evaluation of Uniswap on Token Day by day: https://www.tokendaily.co/blog/pnl-analysis-of-uniswap-market-making

The posts by Vitalik Buterin that Hayden used to create Uniswap:

On Reddit: https://www.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/

The remark by Vitalik close to the highest of this weblog put up about Bancor: http://hackingdistributed.com/2017/06/19/bancor-is-flawed/

Weblog put up by Vitalik: https://vitalik.ca/general/2017/06/22/marketmakers.html

Unconfirmed episode with Dan Elitzer on superfluid collateral and Uniswap liquidity pair tokens getting used as collateral: https://unchainedpodcast.com/how-to-earn-money-on-collateral-in-defi-and-why-thats-risky/

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