Learn to use UNISWAP without paying high $$$ on fees with SHINOBI!

Learn to use UNISWAP without paying high $$$ on fees with SHINOBI!

By DaniBom | danibom | 20 Sep 2020


In the last 2 months, DEFI and UNISWAP have been the talk in crypto, but the extremely high ETH gas fee make many people stay away from it, especially because transacting and using a smart contract is not easy at first.

Testing with UNISWAP may costs you HUNDREDS of $$$ in fees, between failed transactions or mistake in selecting the correct procedure.

Now a few days ago the UBIQ team launched SHINOBI, a uniswap fork on the UBIQ blockchain. The user experience is exactly the same as on uniswap, the guides provided by the team are excellent and very easy to understand and the big advantage is that fees are almost zero (i spent 0.001$ to add liquidity to the UBQ/ESCH pair).

Since I've already used Uniswap for a trade, I used Shinobi to add liquidity and it was very quick and easy to do! Now I've learned something new that will help me hopefully profits in the Defi space!

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I hold my $UBQ (that you can buy on Bittrex) on my Ledger Nano S, so I've installed Sparrow (a metamask fork) on Firefox, connected my ledger and in 2 easy steps added liquidity to the UBQ/ESCH pair (I've added a low amount just to test and learn). You can do the same things using Metamask on Chrome or Brave browser (but Ledger and Trezor for now only work with sparrow)

$ESCH is a governance token that was airdropped in the last 2 years to $UBQ holders (i claimed all the $ESCH airdrops).

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The same thing can be done with any tokens on the $UBQ blockchain, with $GEO being probably the famous one.

The whole process took a few minutes, cost me 0.004 $UBQ in fees (0.001$ now) and now I'm confident that I can add liquidity on any pool on Shinobi, Uniswap or any other similar platform without any issue.

So if you want to learn, register on Bittrex if you don't have an account already, buy some $UBQ and start learning and earning with Shinobi. 

Ubiq price is very low now but was for a long time a top 100 coin on Coinmarketcap, with an all time high of 6.82$, while now it sits at 0.26$ with a 11M$ marketcap. 

The team is very competent and it's going to release many updates in the next weeks. The Ubiq Ninja landing page has all the info you need to start and you can ask questions on discord too!

Here is a small recap of the difference between Ubiq and Ethereum and at the bottom of the page will leave many useful links.

Key differences between Ubiq and Ethereum:

  • Longer average block time. Ethereum runs at an average block time of 14 seconds whereas Ubiq runs at 88 seconds. This promotes network propagation, reduces uncle and orphan blocks while encouraging further off-chain scalability improvements. For more information, check out our Ubiq Research posts on the mining ecosystem and Flux.
  • Independent Hashing Algorithm ‘Ubqhash’. Ubiq runs on its own independent hashing algorithm called Ubqhash. Other Ethereum chains run on Ethash, which makes them susceptible to rental mining 51% attacks. This provides an extra layer of security behind trading on the DEX.
  • Fair Launch. Ubiq ran no ICO, has no premine, no founders fee and no hidden block taxes. Ubiq prides itself on its pure crypto ethos like many of the cryptocurrencies such as Bitcoin, Litecoin and Monero.
  • Low Gas Costs. The core Ubiq dev team has observed increasingly expensive gas costs on Ethereum, with traders paying extortionate fees as high as hundreds if not thousands of dollars in ETH in order to prioritize their transactions as Ethereum reaches capacity. Ubiq has no such issue and has even been benchmarked against Ethereum, where it was found our processing capacity was 2x higher at a 40 million Gas limit.

 

 


DaniBom
DaniBom

Crypto, NBA, golf and movie fan


danibom
danibom

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