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DeFi protocol development like Uniswap is done on the technically robust Ethereum blockchain network. The leading decentralized exchange (DEX) had more than $30 billion in trading volume in January 2021. The Uniswap token is currently trading at $18.46 with a market cap of $5.27 billion.
The main features to incorporate in DeFi Protocol Development like Uniswap are
Support for numerous Ethereum-based digital wallets like MetaMask and Trust wallets for the users to store their crypto tokens safely.
Decentralized oracles that display the prices of assets on a real-time basis. It uses the constant product market maker mechanism. They are highly resistant to manipulation.
Multilingual technical support is provided round the clock.
A high level of privacy and anonymity is ensured as users are not subject to any KYC/AML verification.
A withdrawal facility as users can take away their ERC20 token holdings anytime without facing any restrictions.
Security measures like private keys and two-factor authentication.
Automatic provision of liquidity through well-maintained liquidity pools under the supervision of liquidity providers. There are 4 liquidity pools, ETH/USDT, ETH/USDC, ETH/DAI, and ETH/WBTC.
Participants in the DeFi platform can freely trade their tokens with each other as there are no intermediaries.
Governance rights that grant voting powers to the holders of the UNI token.
DeFi is the buzzword in the Cryptocurrency world right now and it can totally transform the industry, widening its access and improving its efficiency. Hence, the market conditions are completely favourable for beginning DeFi protocol development like Uniswap.
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