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Is Uniswap ERC20 (Explained)

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If you’ve attempted to exchange your crypto on a decentralized platform, you’ve probably come across Uniswap. What is Uniswap? How does it work? Does it use the ERC20 standard?

In the article below, we take a look at that and more.

Is Uniswap ERC20?

Yes. Uniswap is an ERC-20 token. This token is built on the standards of the Ethereum ecosystem. Therefore, it’s secured and obeys the standards of Ethereum smart contracts. 

What Is ERC20?

ERC-20 stands for Ethereum Request for Comments. 

ERC-20 is a set of standards for all tokens built on Ethereum. It ensures developers in the Ethereum ecosystem can create interoperable tokens that operate along with the ETH structure. 

The primary purpose of ERC-20 is to explain how the users can send coins between cryptos and how data from each can be accessible.

The ERC-20 standard allows developers to project and design better Layer-2 solutions on top of Layer-1-based networks.

Here, as a developer, you can forecast the behavior of a cryptocurrency and how it’ll collaborate or cooperate with its peers on the same network. 

Learn more: Does Solana Have A Wallet App?

What Is Uniswap?

Uniswap is an ERC-20 protocol for token transfers across networks in the Ethereum ecosystem. It facilitates the swapping of tokens between two users without a need for a centralized third party.

Uniswap was launched in November 2018 by Hayden Adams.

It holds its own native token, UNI. As of this writing, the UNI token’s market supply stands at 719,952,697, with a circulation cap currently held at 1,000,000,000 UNI coins.

The launch of Uniswap V2 in November 2018 and Uniswap V3 in May 2021 has significantly improved this blockchain. 

Today, Uniswap gives its users excellent features like Instant swaps, Off-chain price data, and ERC-20 pairs. Also, there is no better liquidity provider in the market offering seamless transactions and an excellent infrastructure foundation than Uniswap. 

It depends on a standard equation (X x Y=K), the Ethereum backing, and a pool of tokens to make calculations according to the level of demand at a given time. 

Uses of Uniswap

  • It seeks to solve the DEX liquidity dilemma by offering a demand-less market to swap all ERC-20 tokens.
  • It eliminates any middle persons or fees for the swapping process. 
  • It focuses on growing the crypto industry’s decentralized finance (DeFi) segment.

Learn more: Does Uniswap Have An APP?

What Are The Applications Of Uniswap?

Uniswap as a protocol offers several use cases in the real world. Many dApps built on the Uniswap protocol serve varying purposes. Here are the applications that you would find helpful. 

Parsec Finance

Parsec finance is an advanced DeFi application with multi-features that give users updates on events in The DeFi markets. 

Among the features, you can track your cryptocurrency portfolios, observe trading candles, see and access your trading data, and receive news about your trades. 

Rari Capital

Rari Capital enables users and investors to gain access to finances, opportunities, and communities. Anyone can use Rari Capital through its interface or an application called Market. 

You can start earning from it by funding your account with crypto. Also, you can participate in decision-making on the future of the dApp. 

Rari Capital has a community of users on Twitter, Discord, and Contributor Guide, where you can present discussions, complaints, and suggestions about the platform. 

As a developer, you can build your software or applications while it offers you the automated protocol for handling borrowing and lending. 

Learn more: Is Uniswap Really Decentralized?

Is Uniswap Built On Ethereum?

Yes. Uniswap is among the thousands of ERC-20 tokens built on the Ethereum blockchain technology. 

How Many ERC20 Tokens Are There?

Until now, there is an estimate of over 500,000 ERC-20 tokens on Ethereum’s ecosystem. All ERC-20 tokens, as stated above, follow the same set of rules.

Here are some of the popular tokens which adhere to the ERC-20 standard: 


Augur (REP) is an ERC-20 token built on the Ethereum blockchain smart contracts. It offers its users a platform with a worldwide unlimited betting platform.

This betting platform provides an avenue to stake or bet any amounts on world events, sports, and a way to trade your REP. 

Augur offers three main products. These are Augur the AMM, Sportsbook for betting and Migrate your REP.

Uses of Augur (REP)

  • You purchase and sell shares through Augur in economic events.
  • You can work as a liquidity provider and earn fees as investors transact.
  • You can move your REP token from V1 to V2.

Maker (MKR)

Maker (MKR) is a token built on the MakerDAO and Maker authority. Both protocols are Ethereum-based, allowing participants to governor issue the DAI stablecoin. Launched in 2015 and improved in 2017, it’s an ERC-20 token secured on the Ethereum network and is dollar-backed. 

Let’s look at some of the benefits MKR has for its users.

Community Governance

All the Maker participants get the chance to directly take part in governing the DAI and the future of the network. Direct governance provides a more transparent system. 


MKR initiates a deflationary measure to maintain the value of its token. Recently, most DeFi projects incorporate this as a standard to protect their existence.

Is ETH An ERC20 Token?


Ethereum (ETH) isn’t an ERC-20 token but a cryptocurrency built on its blockchain. The rest of the ERC-20 tokens thrive on Ethereum smart contracts. 

However, Ethereum has a wrapped version called WETH, which adheres to the ERC-20 token standard. WETH lets developers venture into DeFi applications. 

Final Thoughts

Uniswap is an excellent peer-to-peer decentralized exchange platform that adheres to the ERC20 standards. That’s, in part, because it’s built on Ethereum. For this reason, you can swap different crypto coins across Uniswap so long as they meet ERC20 standards.