Uniswap has quickly become the top decentralized exchange to use for trading Ethereum and Ethereum-based tokens (ERC20s). Using the swap feature of Uniswap, you can instantly trade tokens on Ethereum without having to leave the interface.
A common use for Uniswap is for trading DeFi tokens - especially up and comers that may not even be listed on major exchanges like Bittrex and Binance.
There is a lot of attention on Wrapped HIVE (wHIVE) and what potential use cases we might see out of that project. Having a wrapped HIVE token on the Ethereum network would allow Hive holders to wrap their HIVE and then utilize wHIVE to trade ERC20’s/ETH on a decentralized exchange like Uniswap.
This is just one use case among hundreds of potential use cases. Having a bridge to the Ethereum network provides a lot of flexibility and opportunity for HIVE hodlers. Hopefully this tutorial shows off just a little glimpse of what’s possible when you have at token on the ETH network.
In this tutorial, I quickly run through the swapping feature and show you how to convert ETH/ERC20’s into ETH or any other ERC20. I use BAT and DAI in this tutorial because of BAT’s latest rally in price.
It made sense for me to withdraw some BAT from a MakerDAO CDP vault that I have and then convert it into DAI and then use the DAI to pay back a portion of the collateralized loan that I had taken out.
Despite the high fees on the Ethereum network, swapping can be a lucrative game. Trading these new coins can also be a risky game, so swap at your own risk!
Earn LEO + HIVE rewards by creating crypto/finance-related content in our PeakD community or directly from our hive-based interface at https://leofinance.io.
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