What is UNISWAP?! What is WBTC?! Why is DeFi BOOMING?!

[VoskCoin]

What is this uniswap that's making people hundreds, thousands, and millions?! What is WBTC, wrapped Bitcoin?... Let's review the latest Decentralized Finance DeFi news!

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https://www.youtube.com/watch?v=lWYCcFNQqeM


DeFi in cryptocurrency is all the rage right now, but why is DEcentralized FInance so hot right now? Well honestly the biggest driver of this is Uniswap, yield farming and other methods basically participating, providing liquidity and buying some tokens on this exchange has proved to be very lucrative where people are making AND losing TONs of money, but a lot of people are making huge gains on their investments in cryptocurrencies. Let's review what Uniswap is, how Uniswap works, and why Uniswap is driving Ethereum transactions fees to all time highs! We will also review WBTC, which is wrapped Bitcoin, which is an erc-20 token, so a token built on the Ethereum blockchain that pegs each WBTC to one BTC in valuation.

additional links and info on yt per bct rules

[GucciBoy]

While Uniswap is a nice place to buy a ton of shitcoins, it sucks ASS in terms of Gas fees. Costing upwards of $5-$10 to transfer your tokens, lol.

We need a second layer DEX with The Lightning Network, and The Raiden Network integrated, meaning you can trade instantly, with very very low fees.

The only project in existence working with this right now, is Stakenet (XSN).

They are in open beta right now, so anyone can trade on their DEX, which is built on top of The Lightning Network, with the Raiden Network being integrated soon.

Here's a quick glance at how it functions:
https://www.youtube.com/watch?v=wSNFhFBKmsc&t=1s

[ryzaadit]

The simple way to explain all of these.

Uniswap = Could be same as Etherdelta/Forkdelta when a different token can be traded at there.
WBTC = A bitcoin token backed with bitcoin, the circulation was based on how many bitcoin swapped into WBTC. You can swap too WBTC into Bitcoin, the reason why they are creating this just to make an easy transaction for some exchange trade on a different chain. One of the example Bitcoin on Binance Chain.
DeFi = Lending 2.0 In 2019/2020.

Simple as that's XD.