From 841aac8ac68786533d1bdfa3e16cd8980282ea81 Mon Sep 17 00:00:00 2001 From: haydenadams Date: Mon, 27 Nov 2017 20:45:23 -0500 Subject: [PATCH] Update README.md --- README.md | 16 +++++++++++++++- 1 file changed, 15 insertions(+), 1 deletion(-) diff --git a/README.md b/README.md index 020d7d56cc..42dda2e219 100644 --- a/README.md +++ b/README.md @@ -1 +1,15 @@ -# uniswap +# Uniswap - a trustless, decentralized exchange for Ether and ERC20 tokens + +Uniswap exchange uses a "Market Maker" mechanism, where liquidity providers store 2 tokens within an Ethereum smart contract. An exchange rate is set between the tokens based on the relative availibility of each token. Arbitrage ensures that the rate will be the same as on other exchanges. Buyers who send Token1 to the smart contract will receive back Token2 at the current rate. A small fee is paid from the buyer to the liquidity providers in to incentive participation. + +A full writeup with math and whatnot will be written soon. Until then, here is some more info on Market Makers: + +https://www.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ +http://vitalik.ca/general/2017/06/22/marketmakers.html + +Please reach out if you would like to get involved or support the project. + +Demo: https://uniswap.io/ +Email: hayden@uniswap.io +ETH Address: 0x4779721CaC18A46DbCF148f2Dd7A8E6cc1F90078 +