Decentralized exchanges aren’t just for cryptocurrency anymore. Now, the same blockchain technology has been employed to create what are known as NFT marketplaces, which is good news for both artists and investors alike. Read on to find out why it’s such a great idea to join the uswapnft marketplace.
What Are NFTs?
Before moving on, let’s take a moment to define some terms for newcomers. NFT is short for non-fungible token. It’s a type of collectible digital asset that acts as an investment.
Think of it like a cryptocurrency but minus the possibility of a like-for-like exchange. NFTs can be traded for other NFTs, but once the trade goes through, both parties have completely different digital assets in their possession.
What Is USWAP?
USWAP is a decentralized exchange (DEX) for NFTs that has been deployed on TRON, a specific blockchain. It’s similar to the UNISWAP V2 marketplace on the Ethereum network but fundamentally varies from other DEXs in some crucial ways.
Unlike other NFT exchanges, USWAP follows what’s known as a safe-DEX protocol. To list projects or tokens on USWAP, users must go through an audit to ensure their legitimacy. Since all of the tokens on USWAP have been audited, users don’t have to worry about scammers and rug pulling, as they would on other exchanges.
History of USWAP
USWAP was only deployed to the TRON blockchain on November 9, 2020. Since then, though, it has already become one of the fastest-growing DEXs on TRON’s network. It has won multiple awards and continues to grow in popularity all the time.
Reasons to Use USWAP
USWAP uses an automated market-maker approach, which means that users trade against crypto assets stored in liquidity pools held as smart contracts. Investors fill the pools, then get LP tokens representing the liquidity they’ve supplied.
Any USWAP user that provides liquidity earns swap fee revenue. These valued investors can use LP tokens as stakes in their pools to earn USWAP’s in-house UME tokens. The whole process is known as yield-farming, and it’s not the only way people can make money using USWAP. Investors can also earn trade TRC20 tokens, stake LP tokens to farm, earn swap fees, and, even more importantly, access the first public NFT marketplace hosted on the TRON network.
USWAP Is More Than a DEX
Although USWAP functions primarily as a decentralized exchange, the fact that it uses automated market maker methodology sets it apart. The switch from order books to liquidity pools makes earning swap fees and yield-farming more lucrative.
USWAP is the first public NFT marketplace on its network that lets artists and authors upload their NFTs for public auction whenever they want. Plus, once uploaded, those NFTs will access millions of users worldwide at just a fraction of how much it would cost to do so on the Ethereum network.
Join Today
With tens of thousands of smart, active, and highly educated artists and investors, USWAP is quickly becoming the new way to launch and be introduced to amazing NFTs. Whether people are interested in uploading their own NFTs for auction or getting involved in yield farming, now’s the time to join.