The DeFi fever has become a landmark moment for decentralized exchanges. One of the first smart-contract-based DEXs was Uniswap, which implemented the automated market maker (AMM) technology. The platform was created with support from the Ethereum Foundation and Vitalik Buterin.<\/p>\n
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Until this summer, Uniswap could not boast substantial trading volumes, but in June this figure rose tenfold\u2014from $1.75 million to $17.5 million\u2014and by the end of August had surpassed $425 million, outpaced<\/a> the American Coinbase.<\/p>\n Forklog has examined how Uniswap managed to mount a serious challenge to centralized exchanges as the first DEX.<\/p>\n The idea behind Uniswap has a specific starting point \u2014 Vitalik Buterin’s Reddit post<\/a> from October 2016. At that time, in his words, the problem with all decentralized exchanges was too wide a spread. He proposed solving it with smart contracts that would manage reserves of different tokens and balance their prices relative to each other according to supply and demand.<\/p>\n Hayden Adams \u2014 a young computer engineer from New York \u2014 implemented this idea. He came to the crypto industry after being laid off from Siemens in the summer of 2017.<\/p>\n \ud83e\udd84Today its been exactly 1 year since the launch of @UniswapExchange<\/a>!<\/p>\n To celebrate, I\u2019m publishing V0 of the Uniswap Birthday Blog series.<\/p>\n In it I describe Uniswap\u2019s origin. The the hard work, the chance, and the many people who helped along the wayhttps:\/\/t.co\/oFFEj2Jvw6<\/a><\/p>\n 1\/<\/p>\n \u2014 Hayden Adams \ud83e\udd84 (@haydenzadams) November 2, 2019<\/a><\/p>\n<\/blockquote>\nFrom Siemens to Ethereum<\/h2>\n
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