UNI Token: The Value Code and Investment Potential of DeFi Giant Uniswap
The UNI token is the governance token of the Uniswap protocol. As a leader in decentralized exchanges (DEX), the market performance and value potential of its token have always been a focal point in the cryptocurrency space. Below is an investment research analysis of the UNI token:
1. Project Background and Advantages
Uniswap is a decentralized trading protocol built on Ethereum, supporting non-custodial trading of ERC-20 tokens. It facilitates trading through a constant product market-making algorithm (x*y=k), offering advantages such as permissionless access, low slippage, and controllable impermanent loss. Uniswap's V3 version introduces innovative mechanisms like concentrated liquidity, significantly improving capital efficiency.