We’re pleased to announce our POA20 token listing on the Uniswap Exchange! Uniswap is a unique DeFi (decentralized finance) project which allows users to easily swap ERC20 tokens with ETH as well as directly with other listed ERC20 tokens. The protocol design provides inexpensive gas prices and exchange rates which are calculated and regulated through on-chain protocols and trading arbitrage.
Uniswap has seen rapidly increased adoption - over 80,000 ETH were exchanged across the platform the week ending May 20, 2019. Currently, 57 tokens and 94 trading pairs exist on the exchange. We’re very excited to add POA20 to the mix!
For POA token holders, Uniswap presents an opportunity for greater exposure and options for POA20 usage. POA20 was originally conceived as an ERC20 representation of POA that lives on the Ethereum network. POA20 is created through the TokenBridge, where users convert POA native coins on the POA network into POA20 on the Ethereum mainnet. POA20 can then be used on the Ethereum mainnet to access Ethereum based services, such as Uniswap.
Uniswap allows users to conduct trades and also to provide liquidity to the protocol. Liquidity providers supply equal amounts of ETH and ERC20 tokens (in our case POA20) into a contract. This helps determine the exchange rate. When another user trades POA20, they pay a transaction fee which goes to the liquidity provider. As token prices shift on market exchanges, traders at Uniswap look to take advantage of discrepancies in prices. When they swap tokens, prices are adjusted based on the total amount of ETH relative to the total amount of ERC20 in the contract.
Since the listing of POA20 on Uniswap, the POA20 liquidity pool has been active with the volume of POA20 increasing and seeing more activity. As more users start trading POA20 on Uniswap, we will start to see more liquidity providers adding liquidity pools to facilitate the trading and exchange of POA20.
Uniswap is still in its early days of development and growth, but we’re very excited to be a part of it and watch this protocol grow and contribute to the decentralized financial ecosystem of tomorrow. More on Uniswap is available here.
Now that POA20 is officially listed, users can swap their POA20 and also provide POA20 liquidity. Check out our latest instructions on how to trade POA20 for other popular tokens like Dai, and also how to add POA20 to the liquidity pool on the POA forum.