Decentralized crypto exchange Uniswap wants to dominate the internet like PayPal did

Uniswap wants to offer code that web developers can nest on their sites, giving users easy access to trade cryptocurrencies. PayPal has made a similar expansion in its time, providing relevant integrations for the e-commerce sector.

Uniswap wants to be a leader / Photo: own materials

Uniswap Labs is the largest decentralized exchange for trading cryptocurrencies. Currently, Uniswap operates as a web application to which you connect your crypto wallet, such as MetaMask, to then exchange cryptocurrencies. That will change though – Uniswap will provide the right code snippets to be nested on virtually any website. This will allow us to embed trading capabilities across multiple sites, accelerating the platform’s development.

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The swap widget will allow users to exchange different tokens without leaving the website that supports it. Initially, Uniswap will provide availability only to selected sites to see how the service behaves and how much it is used by Internet users.

PayPal Holdings Inc. used a similar tactic a few decades ago to expand its reach and boost e-commerce. Back then, however, it was about the ability to pay for e-commerce orders, and now we’re dealing with cryptocurrency trading.

Mary-Catherine Lader, chief operating officer at Uniswap, said in an interview with Bloomberg that “exchanging value is essential in Web3,” with applications using tokens and blockchains in mind. “To grow, we need to grow the whole market,” – She added.

According to CryptoCompare, since the beginning of 2021, Uniswap’s total value locked – a measure of how much money is in the platform – has increased by more than 200% to $7.8 billion.

Uniswap is one of the best decentralized exchanges

Currently, Uniswap remains the most popular decentralized exchange, with a volume of about $60 million per day. In second and third place are PancakeSwap and Sushiswap.

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The crypto exchange widget is part of Uniswap’s growth strategy, which also recently led to the company launching a venture capital arm to invest in Web3 startups. Uniswap has also expanded to other blockchains, such as Polygon, and is quickly gaining popularity there. To date, Uniswap has primarily operated on Ethereum.

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