Monday, May 29, 2023


by Hideo Nakamura

What is UST?
UST (Uniswap Standard Token) is a decentralized exchange protocol that enables traders to swap Ethereum tokens for other tokens directly from their wallets. It was created by the blockchain startup Uniswap, and launched in 2020. UST provides a safe, fast and efficient way for users to trade cryptocurrencies without having to go through an intermediary or centralized exchange. Unlike traditional exchanges, which require traders to deposit funds with them before trading, UST allows users to make trades directly from their wallets using smart contracts on the Ethereum blockchain. This makes it easier and faster for traders to buy or sell digital assets without having to trust any third party with their funds.

How does Uniswap work?
Uniswap works by connecting buyers and sellers of compatible cryptocurrency pairs via a decentralized liquidity pool. When someone wants to trade one token for another, they will first connect their wallet address with Uniswap’s platform using either MetaMask or another compatible wallet such as Ledger Nano S or Trezor One. After making sure that both sides have enough balance of each token involved in the transaction (called “liquidity”), they can then initiate the swap process by entering into a smart contract between themselves and Uniswap’s liquidity pool. The platform then executes this contract automatically; exchanging one side’s tokens for the other side’s at an agreed upon rate based on current market conditions at that time of execution..

What are some advantages of using UST?
Some advantages of using UST include: increased speed compared to traditional exchanges; extremely low fees; security provided by smart contracts rather than relying on a single entity; no need for registration or KYC processes; ability use multiple tokens simultaneously without having separate accounts in different exchanges; access not restricted based on geography or jurisdiction like many centralized exchanges are subject too; greater privacy due its non-custodial nature where user data is never stored centrally so there’s much less risk associated with potential hacks/thefts etc.; direct control over funds since they stay within your own wallet during transactions instead being held temporarily elsewhere until completion as would be done with most conventional forms of trading/exchange platforms

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