The first step to mastering the chain is to learn to trade using uniswap. Once you know how to use uni, you will be familiar with all the decentralized exchanges on the chain. From now on, I will have a solid foundation for hairdressing.
Uniswap is a decentralized cryptocurrency trading platform based on Ethereum blockchain technology that allows users to trade tokens without relying on centralized exchanges. It uses a model called an Automated Market Maker (AMM), where users can add assets to a liquidity pool to earn trading fees. Uniswap’s simple, transparent, and trustless design makes it an important part of the decentralized finance (DeFi) ecosystem. Currently, transactions are open on arb, op, polygon, bsc and other chains.
Steps to trade with Uniswap:
Visit Uniswap official website: https://app.uniswap.org
Click "Connect Wallet" in the upper right corner, select MetaMask and allow the connection.
Select the "Swap" tab.
Select the token and quantity you want to exchange in "From" and select the target token (e.g. USDC).
Click the "Swap" button, confirm the transaction information, and then click "Confirm Swap".
Confirm the transaction in the MetaMask popup.
Use Uniswap to add liquidity and earn fees
Visit Uniswap official website: https://app.uniswap.org
Click "Connect Wallet" in the upper right corner, select MetaMask and allow the connection.
Select the Pool tab and click New Position.
Select two tokens and enter the amount.
Set a price range and select a minimum and maximum price.
Click the "Add" button and confirm the transaction in the MetaMask popup.
Special attention should be paid to this. When adding liquidity, you may encounter the phenomenon of "impermanent loss". Impermanent losses are losses that a liquidity provider may incur due to market price fluctuations when providing assets. When market prices change drastically, the liquidity provider's assets may be sold at a lower price, resulting in losses. Therefore, there is a trade-off between risk and reward when adding liquidity.