It works very different in the sort of liquidity pools of an automated market maker. In 2015 he was part of the of the UBS crypto 2.0 innovation lab at Level39 in London. Hayden: I think that it's truly decentralized in that it's all completely verifiable. And I think in technology, that kind of experimentation or adaptation, is the usual thing. In this episode of the Bankless podcast, Ryan Adams and David Hoffman interview Hayden Adams, the creator of Uniswap. I'm just curious what you were doing during that timeframe? Linda is also an advisor to 0x, a protocol for decentralized exchange of Ethereum tokens. They don't need to have this market making background. And this is … And so we kind of remove this gatekeeper in the creation of liquidity. And that is attempts at creating markets that are truly, truly decentralized. Luis. View Hayden Adams’ profile on LinkedIn, the world’s largest professional community. Why is May 5 important to people with Ethereum in their wallets? Luis is Aragon’s founder and CEO, a company that is building a standard for DAOs (Stripe Atlas for Ethereum-based companies). And we're expecting for more people to get brought in, but that's an ongoing process and, and we're still in the early days of that. Thomas has a strong personal national and international network among consultants, enterprises and administrations which, in combination with his comprehensive technical skills, allows him to develop creative, tailor-made and efficient tax structuring solutions. So you might deposit some USDC, which is a stable coin, and some ETH, and then that creates a marketplace between ETH and USDC. He started working on blockchain projects in 2013 with the goal to connect the digital assets field and the existing banking world. And you're not, you don't need to trust anyone else. Prior to Uniswap, Hayden was an engineer at Siemens. Muneeb co-founded Blockstack, a new decentralized internet where users control their data and apps run without remote servers. They don't need that application. And if you bought it a year ago, or when it came out, you'd be sitting on a fortune right now. And in the same way that Ethereum is decentralized and permissionless and can be accessed anywhere in the world, the same exists for Uniswap markets. Ethereum had arrived. Right. And so, yeah, I do agree that it's incredibly important as we build DeFi. It's fun to look at how these things work and the ease, you know, you don't have to set up an account. Tracy: So I'm going to jump right into something that you guys do that's different to some other exchanges, but you have basically every coin in existence able to trade through your platform, including like ones that I think are probably jokes or scams. And so transaction fees can be high at times, it can't process that many attraction transactions in the early days. It was about 200 per day. Previously, Alex was a founder and the CFO of Lawnmower, a blockchain investment and market research firm acquired by CoinDesk in January 2017, and prior, Alex was a debt investment banking analyst at Raymond James. Hayden: Essentially each market on Uniswap is a smart contract on Ethereum. One analogy is it's almost like the user-generated content -- like Netflix versus YouTube, but for liquidity. And that sort of gets at this, what is the fundamental value of Uniswap? I'm super excited to talk about this, to talk about DeFi, how decentralized trading works. That's cool. It's limited to storing and transferring value. Right? Previously, he founded UniversityTutory.com and also worked as a software engineer at CarWoo.com. Nick runs The Control and is an investor at Runa Capital, an early stage venture fund. And so,  Uniswap is constantly being arbitraged against other markets. When I look at -- when you refer to like using DeFi it just seems like, okay, you have a bunch of people who are trading, that’s cool, and you have people who are sort of lending or staking and earning yield. Holding a dual degree in Mathematics and Computer Science from New York University and a Masters Degree in Organizational Psychology from Process Work Institute in Portland, Oregon, Alex bridges technological insight with social science and psychology. And within crypto Uniswap already kind of works better than most centralized exchanges, right? But Uniswap is kind of fundamentally decentralized. So one thing to think about is downtime, another one is centralized exchange hacks, right. Uniswap was basically built entirely open source. Hayden Adams is founder of Uniswap, one of the most widely used decentralized applications built on Ethereum. Right. Tracy: So, I mean, it does seem like you guys are working on quite a lot at this moment in time. But in the long run, they still have this same problem. And so at its core, Uniswap is decentralized in that the logic for Uniswap — the protocol -- is entirely in these on-chain smart contracts. Like people change their products and they kind of experiment with what they're doing. He currently is a managing partner at Union Square Ventures and also founded Flatiron Partners. Doug is a Founder at Livepeer – a decentralized video infrastructure protocol and platform that has been live on the Ethereum network since April, 2018. And so a lot of trading on Uniswap doesn't even happen on any interface, but happens directly on-chain in other applications. Tracy: Yeah. But there is an irony with Coinbase and you mentioned crypto ETF, but there is an irony with Coinbase, which is that, you know, if crypto is supposed to be cutting out legacy financial institutions — like that’s a big part of the sales pitch — but A) Coinbase just went public on legacy exchanges. Maciej is the founder of Userfeeds.io — the content ranking & reputation system for blockchain communities inspired by liquid democracy and Google’s Pagerank. And today it has about $9 billion. I'm Joe Weisenthal. Tracy: Thanks so much Hayden. At Coinbase, Linda has worked with regulators and law enforcement on compliance for digital assets. Uniswap is expected to release a new version of its platform, Uniswap v3, in the months to come. So you can lock it up for second a day. Hayden Adams: Uniswap – An Automated Decentralized Exchange for Ethereum: We were joined by Hayden Adams to discuss the decentralized exchange Uniswap. I'd say that DeFi in the long run, not everyone wants to self custody, their own funds. Hayden: Fantastic. There's sort of this principal-agent problem that we see. And our hope in building out DeFi as an ecosystem is essentially the people who are making the decisions, they're directly accountable financially if something goes wrong. Another way of achieving decentralization is relying on almost market dynamics. To turn their tokens into socks, Unisock holders must redeem their tokens, taking them out of circulation. But then beyond that, being able to earn a return on them. And so they kind of incentivized people to basically put their liquidity in Sushiswap instead of Uniswap to kind of try to compete with Uniswap and grow their own liquidity. Marco focuses his practice on structuring innovative products into existing regulations, as well as crafting new regulations where required. But you're earning fees along the way and very frequently or very often that makes up for it. Hayden Adams is founder of Uniswap, one of the most widely used decentralized applications built on Ethereum and it is currently the world leading DeFi DEX. Before inventing DeFi's largest asset exchange, he was laid off from his mechanical engineering job in the summer of 2017. So no company handling the trade. He graduated from Stony Brook University with a bachelor in engineering in 2016. There's still this no control, even the kind of license -- there's this sort of community governinge system that I haven't even mentioned, or we haven't gotten into, but the community governing system actually does have … so the Uniswap community does have the ability to kind of grant exemptions to that license, or even reduce the kind of two year period where it can't be forked. Excited by Ethereum and Vitalik's blog post on automated market making, he learned to code smart contracts using Solidity. Join our. Six months ago it was doing about $2 billion and a year ago it was doing about $50 million. Prior to Uniswap, Hayden was an engineer at Siemens.

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