One of the most significant and well-known decentralized cryptocurrency exchange (DEX) platforms in the world is Uniswap. Multiple versions of it are accessible on other blockchains that are connected to Ethereum. The Uniswap V3 Arbitrum crypto exchange is one such example.
The exchange users can swap various ERC-20 tokens utilizing the swapping mechanism of Uniswap since it is an open-source liquidity protocol. However, note that in nations that the US has sanctioned, such as Belarus, Syria, and Iran, it is impossible to access the Uniswap V3 Arbitrum cryptocurrency exchange.
Overall, there are three versions of Uniswap. Though V2 and V3 are the most widely used. V3 was created as a technical upgrade with the aim of enhancing Oracle capability, scalability, and effectiveness of delivering liquidity.
Uniswap V3 runs along V2. Both systems, however, function independently, preserving their transaction histories and enabling users to migrate between networks in accordance with their preferences. For instance, you can transfer the platform and carry out your swapping there if the Uniswap V3 Arbitrum crypto price is more advantageous.
Overall, Uniswap V3 Arbitrum is a Layer 2 alternative to the Ethereum-based Uniswap V3 exchange. As a result, it allows for quicker transactions at a lesser cost.
The primary service offered by the platform is swapping. Although Uniswap does not provide trading instruments like margin or leverage, nor do they offer spot or futures markets. Thus, swapping functions as a form of Uniswap Arbitrum spot exchange instead.
Since Uniswap is a decentralized network, all users have an equal opportunity to publish their ERC-20 tokens on it, if there is sufficient liquidity to support them. Varied Uniswap versions and bridges may have different numbers and availability. There are currently more than 170 Uniswap V3 Arbitrum trading pairs.
The Uniswap V3 Arbitrum crypto fees may vary from prior iterations because of the functional distinctions between V2 and V3, as well as the structural changes across the bridges. The charges are not determined using a maker-taker approach or a tiered fee system. Additionally, there might be some Uniswap Arbitrum exchange fees associated with moving assets from Ethereum to Arbitrum.
The most popular coins and liquidity pools are shown on the Uniswap interface and the 24-hour & 7-day Uniswap V3 Arbitrum volume is the foundation for that data. For the convenience of the consumers, all prices are shown in USD.
Besides, the Uniswap exchange has its own native token called UNI. It was released in September 2021 and it's mainly used for governance.
About the Company
Hayden Adams founded and introduced the Uniswap automated market maker (AMM) in November 2018. Uniswap V2, an updated version, was released in May 2020 to increase the platform's scalability and reduce transaction costs, while Version 3 was released a year later.
Bridges between numerous additional decentralized networks and Ethereum were introduced with the rollout of V3. This allows users to access the platform via Optimism, Polygon, and Celo in addition to the Uniswap V3 Arbitrum cryptocurrency exchange, which was released in August 2021.
Arbitrum is the very first permissionless Layer 2 solution for Ethereum. Thus, it has complete Ethereum smart contract functionality and a rich feature set that offers possibilities like permissionless usage, fraud proofs, and so on.
Since Offchain Labs acquired funding from Coinbase Labs in 2019, Arbitrum has shown to be a great way to scale the Ethereum network. The Arbitrum founders claimed that, by using it, they could port the Uniswap V2 testnet at a 55-fold lower gas cost. Also, they stated that they can accommodate 390 swaps per second, which is a lot, compared to the Ethereum's average of 7 swaps per second.
By incorporating a token bridge directly into Uniswap UI, supporting BLS signatures, and other client requests, Arbitrum is continuing to meet its promises. Besides, no functionalities get lost when running a fully functional Uniswap on rollup, and no additional software is required to deploy contracts on Arbitrum.
The Uniswap volume hit $1 trillion in May 2022, marking a significant milestone for the network. This number also accounts for the Uniswap Arbitrum trade volume, as the number is cumulative.
The exchange is run by Uniswap Labs. Hayden Adams is the CEO of this company. Software engineering is Adams' field. Besides, it's interesting to note that he got inspired to create Uniswap after reading an article by Vitalik Buterin, one of the Ethereum co-founders, while he was still employed by Siemens.