Presented by Hayden Adams, Founder of Uniswap, at Fluidity 2019. Fluidity brings the worlds of finance and technology together to shape the future of blockchain and capital markets. On May 9, 2019, we welcomed companies and teams to help shape the narrative of rebuilding finance at the historic Williamsburgh Savings Bank in Brooklyn, New York. Resources: Website: https://fluiditysummit.com Facebook: https://facebook.com/fluidityio/ Twitter: https://twitter.com/fluidityio LinkedIn: https://linkedin.com/company/fluidityio/ YouTube: https://youtube.com/channel/UC0NBCYlgLIxjSljf7CV91nQ/

2. AUTOMATED
LIQUIDITY
Hayden Adams, Uniswap

3. Uniswap
Decentralized Exchange Protocol

4. 🦄 Why Uniswap?
Agenda

5. 🦄 Why Uniswap?
🦄 What Uniswap?
Agenda

6. 🦄 Why Uniswap?
🦄 What Uniswap?
🦄 Surprise!
Agenda

7. ♦ Decentralized
Ethereum is cool because...

8. ♦ Decentralized
○ No single point of failure
Ethereum is cool because...

9. ♦ Decentralized
○ No single point of failure
○ No dictator
Ethereum is cool because...

10. ♦ Decentralized
♦ Censorship Resistant
Ethereum is cool because...

11. ♦ Decentralized
♦ Censorship Resistant
○ No downtime
Ethereum is cool because...

12. ♦ Decentralized
♦ Censorship Resistant
○ No downtime
○ Unstoppable
Ethereum is cool because...

13. ♦ Decentralized
♦ Censorship Resistant
♦ Trustless Execution
Ethereum is cool because...

14. ♦ Decentralized
♦ Censorship Resistant
♦ Trustless Execution
○ Reliable
Ethereum is cool because...

15. ♦ Decentralized
♦ Censorship Resistant
♦ Trustless Execution
○ Reliable
○ Secure
Ethereum is cool because...

16. ♦ Decentralized
♦ Censorship Resistant
♦ Trustless Execution
v
♦ Open Finance
Ethereum is cool because...

17. 🦄 Decentralized
🦄 Censorship Resistant
🦄 Trustless Execution
Uniswap is cool because...

18. 🦄 Decentralized
○ Anyone can trade anything, no admin private keys, no governance
🦄 Censorship Resistant
○ Only depend on a Ethereum + smart contract, no counterparties
🦄 Trustless Execution
○ Open source smart contract and interface, formally verified
Uniswap is cool because...

19. If you build a centralized app on a decentralized platform you get....

20. If you build a centralized app on a decentralized
platform you get…

21. 1. The best properties of both
If you build a centralized app on a decentralized
platform you get…

22. 1. The best properties of both
2. The worst properties of both
If you build a centralized app on a decentralized
platform you get…

23. Uniswap Protocol

24. 🦄 Replace orderbook with on-chain reserves
Uniswap Protocol

25. 🦄 Replace orderbook with on-chain reserves
🦄 All tokens paired with ETH
Uniswap Protocol

26. 🦄 Replace orderbook with on-chain reserves
🦄 All tokens paired with ETH
🦄 Pool liquidity across all providers
Uniswap Protocol

27. 🦄 Replace orderbook with on-chain reserves
🦄 All tokens paired with ETH
🦄 Pool liquidity across all providers
🦄 Automated pricing for ETH to ERC20 swaps
Uniswap Protocol
x * y = k

28. 🦄 Replace orderbook with on-chain reserves
🦄 All tokens paired with ETH
🦄 Pool liquidity across all providers
🦄 Automated pricing for ETH to ERC20 swaps
🦄 Liquidity providers receive exchange fees
Uniswap Protocol
x * y = k

29. 🦄 Replace orderbook with on-chain reserves
🦄 All tokens paired with ETH
🦄 Pool liquidity across all providers
🦄 Automated pricing for ETH to ERC20 swaps
🦄 Liquidity providers receive exchange fees
🦄 No other counterparties
Uniswap Protocol
x * y = k

30. 🦄 Anyone can list any token

31. Factory + Registry
0x1234...
🦄 Anyone can list any token

32. MKR ⇄ ETH
0xbE44
Factory + Registry
0x1234...
🦄 Anyone can list any token

33. MKR ⇄ ETH
0xbE44
Factory + Registry
0x1234...
🦄 Anyone can list any token
ZRX ⇄ ETH
0x4e9C

34. MKR ⇄ ETH
0xbE44
ZRX ⇄ ETH
0x4e9C
Factory + Registry
0x1234...
🦄 Anyone can list any token
🦄 Instantly swap between any ERC20 pair

35. MKR ⇄ ETH
0xbE44
ZRX ⇄ ETH
0x4e9C
Factory + Registry
0x1234...
🦄 Anyone can list any token
🦄 Instantly swap between any ERC20 pair

36. MKR ⇄ ETH
0xbE44
ZRX ⇄ ETH
0x4e9C
0x420f
Factory + Registry
0x1234...
🦄 Anyone can list any token
🦄 Instantly swap between any ERC20 pair

37. MKR ⇄ ETH
0xbE44
ZRX ⇄ ETH
0x4e9C
0x420f
MKR
Factory + Registry
0x1234...
🦄 Anyone can list any token
🦄 Instantly swap between any ERC20 pair

38. MKR ⇄ ETH
0xbE44
ZRX ⇄ ETH
0x4e9C
0x420f
MKR
ETH
Factory + Registry
0x1234...
🦄 Anyone can list any token
🦄 Instantly swap between any ERC20 pair

39. MKR ⇄ ETH
0xbE44
ZRX ⇄ ETH
0x4e9C
0x420f
MKR
ETH
ZRX
Factory + Registry
0x1234...
🦄 Anyone can list any token
🦄 Instantly swap between any ERC20 pair

40. MKR ⇄ ETH
0xbE44
ZRX ⇄ ETH
0x4e9C
0x420f
MKR
ETH
ZRX
Factory + Registry
0x1234...
🦄 Anyone can list any token
🦄 Instantly swap between any ERC20 pair

41. MKR ⇄ ETH
0xbE44
ZRX ⇄ ETH
0x4e9C
0x420f
MKR
ETH
ZRX
Factory + Registry
0x1234...
🦄 Anyone can list any token
🦄 Instantly swap between any ERC20 pair
🦄 Easy to integrate into other DAPPs

42. MKR ⇄ ETH
0xbE44
Some
DAPP
0x420f
MKR
ETH
Factory + Registry
0x1234...
🦄 Anyone can list any token
🦄 Instantly swap between any ERC20 pair
🦄 Easy to integrate into other DAPPs

43. 🦄 Anyone can list any token
🦄 Instantly swap between any ERC20 pair
🦄 Easy to integrate into other DAPPs
0x420f

44. 🦄 Anyone can list any token
🦄 Instantly swap between any ERC20 pair
🦄 Easy to integrate into other DAPPs

45. 🦄 Anyone can list any token
🦄 Instantly swap between any ERC20 pair
🦄 Easy to integrate into other DAPPs
🦄 Simple UX

46. UX

47. UX

48. Liquidity

49. Liquidity

50. Uniswap - DAI/ETH Liquidity

51. Uniswap - DAI/ETH Risk

52. Uniswap - DAI/ETH Fees

53. SURPRISE

54. SURPRISE

55. UNISOCKS.EXCHANGE

56. UNISOCKS.EXCHANGE
Dynamically Priced Socks

57. UNISOCKS.EXCHANGE
Dynamically Priced Socks

58. UNISOCKS.EXCHANGE
Dynamically Priced Socks

59. UNISOCKS.EXCHANGE
Dynamically Priced Socks

60. UNISOCKS.EXCHANGE
Dynamically Priced Socks

61. UNISOCKS.EXCHANGE

62. UNISOCKS.EXCHANGE

63. UNISOCKS.EXCHANGE

64. UNISOCKS.EXCHANGE
Dynamically Priced Socks
🧦 Price discovery for rare merch

65. UNISOCKS.EXCHANGE
Dynamically Priced Socks
🧦 Price discovery for rare merch
🧦 Creators benefit from secondary market

66. UNISOCKS.EXCHANGE
Dynamically Priced Socks
🧦 Price discovery for rare merch
🧦 Creators benefit from secondary market
🧦 Experimental

67. UNISOCKS.EXCHANGE
Dynamically Priced Socks
🧦 Price discovery for rare merch
🧦 Creators benefit from secondary market
🧦 Experimental
🧦 Ethereum miners get first rights to yeezys 🤔

68. uniswap.io
@haydenzadams unisocks.exchange
Thanks <3
@Uniswap Exchange