Hayden Adams, the author of the Uniswap protocol, is a soft-spoken developer, first captivated by cryptocurrency, less so for the cash than the possibility to make something of himself. He can be King of the DeFi Degens via his protocol. After being laid off from his junior engineering function at Siemens and residing at home with his parents, a career possibility came knocking: Uniswap, the permissionless token trade constructed on the Ethereum blockchain.
His total value under lock (TVL), or the dollar price of tokens locked in the smart contract of a given decentralized lending undertaking, is up to 3,500%, from $35 million to $1.3 billion. His code proves a decentralized exchange (DEX) is not the handiest idea but more than able to match heavyweight competitors like Coinbase.
The Uniswap organization acquired investments from venture capital companies which include Andreessen Horowitz, Paradigm Venture Capital, Union Square Ventures LLC, and ParaFi. Investors and traders have applied to Uniswap because of its usage in decentralized finance (DeFi).
The primary model (V1) of the Uniswap protocol was published in November 2018 as a proof of concept for AMMs (Automated Market Makers). Version 2 was released in May 2020, and version 3 was launched in May 2021, introducing new alternatives to allocate liquidity within a sure fee range.
Uniswap’s internet site was taken down temporarily in April 2020 after hackers unsuccessfully tried to use a reentrancy hack on the exchange.