The history of Uniswap
Before studying the exchange rate of currency pairs, we need to understand what Uniswap is. Uniswap is essentially a protocol for decentralized, permissionless token swaps on the Ethereum blockchain. It aims to facilitate automatic exchange transactions between ETH and ERC20 token digital assets, and automatically provide liquidity on Ethereum.
The initial version of Uniswap, launched in November 2018, started to attract user interest, and in May 2020, Uniswap launched the second version of the protocol, called Uniswap V2. The V2 version adds the ERC20/ERC20 liquidity pool on the basis of the V1 version ERC20/ETH pool. In May 2021 of this year, Uniswap V3 was launched. Compared with V2, Uniswap V3 focuses on maximizing capital efficiency. Centralized liquidity is the main concept of V3.
Uniswap's current lock-up volume exceeds $2.4 billion, and the 24-hour trading volume has exceeded $2.5 billion. For details of the project and fluctuation data, please refer to: https://tokenview.com/cn/defi/UniswapV3
How to check currency pairs and exchange rates on Uniswap?
Uniswap V2/V3 users can add any ERC-20 token trading pair. This feature enables Uniswap V2/V3 to provide good support for new currency transactions. Therefore, governance tokens such as COMP and YFI are preferred to be listed on Uniswap, where they can be exchanged for ETH or stable coins. How to check the currency pairs on Uniswap?
1. Open the official website of the Uniswap project: https://app.uniswap.org/#/swap, and choose any token or ETH or stable currency pair. You can see Uniswap currency pairs from the drop-down box.
2. You can also view ERC20 tokens through the Tokenview token list (https://eth.tokenview.com/cn/tokenlist?token=20&activeTab=1), most of these ERC20 tokens will form currency pairs on Uniswap. At the same time, you can view some introductions and data information of these tokens.
3. With the rise and fall of token and ETH prices, the exchange rate of the currency pair will also change in real time. Through the above official website project, you can check the exchange rate of the currency pair in real time. After the conversion is completed, you can use the Tokenview browser to view detailed currency pair conversion information. Take https://eth.tokenview.com/cn/tx/0x8073d84cc7e5587d45fda16b1bf4fc853f06a6674be608276083ec8be6728749 as an example.
The user exchanged 2.248 ETH (ETH=WETH) into 69,194.39 Uni through Uniswap, and spent $87 in handling fees. Uniswap will consider the issue of handling fees and exchange rates, and automatically exchange for users with the most exchanged assets, and there will be automatic exchanges between some tokens in the transaction records.
During the hot DeFi market period, many users will participate in liquidity mining, that is, obtain benefits through currency exchange, but because the transaction fee for one operation is hundreds of dollars, they often look for some new "currency pairs" to arbitrage. This requires monitoring certain addresses and tracing the token transaction information of the addresses in real time. How to monitor the address in real time?
How to monitor the changes in the exchange rate of "currency pairs" on Uniswap?
1. Monitor the "coin pair" address
If you want to obtain the exchange rate of the currency pair in real time, you need to track the transaction changes of the address. The Tokenview address monitoring function is used to monitor the real-time transactions of currency holders, and the corresponding recharge and transfer information can be obtained by giving the public chain, address Hash and the Token to be monitored. How to monitor addresses, please refer to the tutorial: https://services.tokenview.com/cn/learn/address-tracking-tutorial
Such as monitoring the currency pair WETH/KEALOADED
Token address of KEALOADED: 0x4d677f231dc92cfe2705347153570f5af00bd38d
Wrapped Ether token address: 0xc02aaa39b223fe8d0a0e5c4f27ead9083c756cc2
2. Monitor currency pair transactions
Monitor whether UNI/WETH has changed by monitoring the transaction of this pair of addresses. For example: https://eth.tokenview.com/cn/tx/0x39039958d29e5239966bde8990ae1c48a1b176a7bd6dca7bfd3461fca735790d
The transaction took place at 11:25 on August 9, 2021. The user exchanged 0.33 ETH for 1,554,912 KEALOADED, that is, 1 ETH = 4,664,736 KEALOADED.
Look at a recent transaction: https://eth.tokenview.com/cn/tx/0xf248619e118eefc96a44a5e88465dbe33534519e9ec8bb5d4462be707124f744
The transaction occurred at 13:49 on August 9, 2021. The user exchanged 0.01629 ETH for 41,174,258,052 KEALOADED, that is, 1 ETH = 2,527,578,763,167 KEALOADED. The comparison can be obtained: within a few hours, the exchange rate of the currency pair KEALOADED/ETH dropped by 541,848 times.
