How To Use Uniswap.io (featuring Unibright $UBT)

How To Use Uniswap.io (featuring Unibright $UBT)

By Dan | Unibright Unofficial Blog | 23 Jan 2020


Uniswap.io a decentralised exchange where you can swap any ERC20 token for Ethereum or other ERC20. Or vice versa. Using Liquidity Pools.

It is available worldwide and has no KYC restrictions at present.

 

How it works

  • Uniswap is made up of a series of ETH-ERC20 exchange contracts. There is exactly one exchange contract per ERC20 token
  • Each exchange holds reserves of both ETH and its associated ERC20 token.
  • Anyone can become a liquidity provider on an exchange and contribute to its reserves. 
  • Exchange contracts are automated market makers between an ETH-ERC20 pair.
  • Traders can swap between the two in either direction by adding to the liquidity reserve of one and withdrawing from the reserve of the other.
  • Since ETH is a common pair for all ERC20 exchanges, it can be used as an intermediary allowing direct ERC20-ERC20 trades in a single transaction.

Guide - Swap ETH/ERC20 for UBT


*** For $UBT you no longer need to copy in the contract address, as it has been added to the official drop down list of supported tokens ***

 

Text instructions below or watch this video tutorial


Step 1


Visit https://uniswap.exchange/

 

351665157-24adca52914d969e37eae3b7910f736780e966622deec07ffb5f760d22449001.png


Step 2


Select the token you want to end up with

351665157-f0f4f1b07593fde8f2c059449c3184fd562aa947880c65733b43dfbba603debe.png

Example - I copied in the Unibright Smart contract address (0x8400D94A5cb0fa0D041a3788e395285d61c9ee5e)

351665157-194a0933986abe4f0b60c0930c58b98818f4dade7e79067c6c1e66ea008e2900.png


Step 3


Connect your Wallet by selecting one of these options

351665157-e3aaeb3118e34f57a34fdba0122f9055b27213132b4661d0d32203099de4a496.png

 

I chose Metamask

351665157-67d562331e7c29453a194354646e642f5fa1916614b146fb185f4b3b4893974c.png

351665157-17ce4ec9458685673628ce3169d92dc837523e06f56b97d6bc953457469c4ce4.png


Step 4


Input how much ETH or ERC20 you want to swap for it

351665157-0a285745a53eadc1fe1446c797245c85b0dfeb6e95dfd42a25c45eaa32500243.png

 

From this we can see Expected slippage and some other stats, and a little explainer

351665157-42b8149377a9e36db71c5ae67d97b3abaa0e816725516e7b774cff112418f635.png

 

The lower the additional slippage limit, the lower the risk of front running. The swap deadline limits miners holding signed transactions for an extended duration and executing them based off market movements. It also reduces uncertainty around transactions that take a long time to execute due to issues with gas price.

 

Press swap, and soon enough you will have your nice new tokens!

 


Dan
Dan

Big fan of cryptocurrency.


Unibright Unofficial Blog
Unibright Unofficial Blog

Here I will share my own personal thoughts, analysis and ideas surrounding Unibright. Unofficial UBT price and gif Chat t.me/ubtunofficial UBT Supporters Channel t.me/ubtsupporters

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.