Uniswap, Liquidity, and UNI: Clearing Three Common Myths About the DEX
Surprising claim to start: the most important change Uniswap delivered to markets was not "making trading free" or "killing centralized exchanges" — it was turning liquidity into programmable capital. That transformation underpins why Uniswap matters to traders and to U.S. DeFi users, and it explains how new features (v3 concentration, v4 hooks, the Universal Router, and native ETH support) shift the practical calculations for swaps, fee...