Decentralized Finance, or DeFi, has taken the world by storm, which has considerably transformed the way of the traditional banking system. The DeFi-based Dex platform is a win-to-win solution, benefitting users and entrepreneurs. Uniswap like decentralized exchange is one such platform with high trading volume, having a global presence. Are you an individual with the aspiration to launch the DeFi exchange like Uniswap and leverage the current circumstance? Employ an Uniswap Clone and harness the hefty benefits. Read on this blog to know more about it.
What Is All About Uniswap Clone ?
Uniswap Clone is a ready-made, white-label, and pre-fabricated solution for entrepreneurs to launch their DeFi exchanges. It is equipped with essential features and backed by the Ethereum blockchain. Its functionality is quite simple, allowing users to exchange tokens. Apart from this basic exchange functionality, it also supports margin trading as well as spot trading. Considerably Uniswap exchange clone supports the trading of different cryptocurrencies, which will include ERC-20 tokens like Decentraland (MANA), Shiba Inu (SHIB), Enjin (ENJ), etc. Its functionality & equipped features are the same as the existing DeFi-based Dex platform, Uniswap.
Uniswap – A Brief Overview
Uniswap is a cryptocurrency exchange platform utilizing a decentralized network protocol. It was introduced by Hayden Adams, NoahZinsmeister, and Dan Robinson in the year 2018. In the very beginning stage, its first version uses an Automated Market Makers (AMM) and with upgradation, the third version comes with the perk of allocating liquidity within a particular price.
In 2020, Uniswap rolled out its governance token with an airdrop feature. Moreover, in 2021, it holds additional features, including the following: concentrated liquidity and multiple fee tiers. In 2020, it was the fourth-largest cryptocurrency exchange with a greater daily trading volume.
Uniswap is not controlled by any single organization or an individual as this is entirely decentralized, making use of smart contracts. It is being built on the Ethereum blockchain, and it only supports tokens that are created on the Ethereum. That is, it entitles users to swap ERC20 tokens and does not support non-ERC20 tokens such as Cardano (ADA), Dogecoin (DOGE), Bitcoin (BTC), etc.
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Developing A DeFi Exchange Like Uniswap
Known for the eminence and success of Uniswap, coming with a similar DeFi exchange will undoubtedly lay the foundation for your venture. If you are aspired to a business structure of Uniswap and want to mimic the same, get going with connecting a crypto exchange development agency/firm. Or else, hire freelance professionals who are specialized in building a DeFi-based DEX platform. Make certain to choose the well-known and suitable one for your niche.
When it comes to development, there are two different approaches to be carried out. One such customary way is Uniswap-like DeFi exchange development from the ground, which involves designing, developing, testing, and deployment stages. Hence, this takes much time and considerable investment is required.
An alternative approach that comes with the perk of launching the DeFi exchange within a brief period that too, without requiring much investment, most probably at an economical price. It is nothing but a Uniswap Clone, which is easily end-to-end customizable with varying expectations, which includes the inclusion of features and functionalities.
Look At The Salient Features Of The Uniswap Clone
- The built-in Automated Market Maker (AMM) feature offers high liquidity for traders as they are given the option to automate the trading of tokens via liquidity pools. This will eventually eliminate the traditional way of order booking.
- The Uniswap Clone software fastens the process of multi-step transactions with the help of flash swapping.
- The integrated crypto wallet makes certain that the users link their wallets (like Metamask, Coinbase Wallet, WalletConnect, etc.) to the account that they have created on the DeFi exchange platform.
- On a remarkable note, the users will be able to trade with their counterparties using their public crypto wallet address as there is no need for them to complete the KYC verification.
- Users are given options to create their tokens. Thereafter, they can pair ERC20 tokens with ETH for liquidity, supporting instant trading.
- The multilingual support pulls the attention of global audiences as users can use the Uniswap Clone software in their native language.
- The platform functions in such a way that the price of the token is not set by the buyers, which is only based on the standard market price.
Functionality Of The Uniswap Exchange Clone
The functionality of the DeFi-based Dex platform is in accordance with the features that have been infused. Knowing the general features, let’s have a glimpse at the functionality of the Uniswap Exchange clone.
- Registration is the initial step that users have to carry out. After that, they have to log in to the account with credentials, including email address/phone number and password.
- Thereafter, they have to link their Ethereum wallet to the Uniswap Clone account. Once they select the token for swapping, they can preview it.
- After confirmation, the tokens will be swapped. The transaction details can be viewed in the DeFi exchange. Even, the progress of the transactions can be viewed by the users on this platform.
Benefits Of Employing Uniswap Clone Software
Lower Amount Of Investment – When choosing the right crypto exchange development company and employing the Uniswap Clone, it does not require much investment. Minimal investment, that too, within your budget constraints, one could launch the DeFi exchange.
No Intervention Of Middlemen – As earlier mentioned, Uniswap Clone software is decentralized and there will be no involvement of intermediaries or third parties. Hence, there is no requirement for manual input.
Better Return On Investment – This DeFi exchange platform with the functionalities of staking, liquidity, yield farming, swapping, etc., will undoubtedly bring a better return on investment.
No Liquidity Risks – When it comes to the Dex platform, liquidity is a major concern. But, the DeFi-based Dex platform will eliminate liquidity risks.
Gain Brand Identity – It is not much difficult to gain a brand identity as Uniswap has a global users. When you come up with a similar protocol and launch a DeFi exchange, you could definitely have larger brand visibility.
Intend To Launch A DeFi Exchange With INORU? Here We Go,
When you intend to launch a decentralized-based protocol software, the very first consideration to make is choosing the right DeFi exchange development company. Make certain to choose the best & suitable company. Not sure how to choose the best one? Take the following factors into consideration:
- Dedicated expert developers with profound knowledge in the concept of decentralized finance
- Completion of the project (creating & launching the DeFi exchange) in a stipulated time
- Instant launch at an affordable price, without the lack of quality
- Subjected to the various levels of testing, ensuring the performance efficiency
- When employing an Uniswap Clone, the end-to-end customization is obligatory
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To Conclude,
Uniswap Clone will be a profound DeFi-based decentralized exchange solution for entrepreneurs, empowering them to launch their exchange platform in a short period of time. Aspiring to? Forge ahead with Uniswap exchange clone development!