Ethereum still remains one of the biggest cryptocurrencies in the market, with its total market cap still being in the top five of the entire market. In fact, since Ether has a more stable market price, various other DeFi exchanges are using it as a baseline.
And with new updates on the way, people can expect their transaction speeds to increase by a significant degree while lowering the cost of transactions. These two happen to be the biggest problems that people face when trying to use Ethereum.
But as one of the biggest DeFi networks on the market, Ether also brought in various other cryptocurrencies into its DeFi network. One of the newest ones happens to be Uniglo, which is an interesting addition, to say the least.
How the Ethereum DeFi network functions
Ethereum happens to be both the testing ground and the birthplace for DeFi as a whole. One of the major additions that it has is Uniswap, which is the frontrunner for most transactions that are taking place throughout the DeFi space. Nearly half of all transactions go through Uniswap.
Furthermore, they even have another service called Balancer (BAL), which can even allow people to add their portfolios to a liquidity pool. This is a feature that plenty of investors have been asking for, and they’re finally getting it.
Both of these services combine to offer some of the best services that you can find in the DeFi market. However, they can be a little obtuse to understand, which is where a service like Uniglo will come in.
What makes Uniglo so special
While most of the services mentioned before are all great, they can be a little technical to get around. This is a very common issue that most people have to contend with when trying to get into cryptocurrencies.
These DeFi exchanges can usually have a steep learning curve to get around, which makes them very difficult to operate for people who are just starting out. Therefore, Uniglo is looking to address that exact problem, since everything about it speaks to individuals with no experience in the DeFi space.
The idea behind the platform was to provide users with a platform where they can gather a multitude of digital assets. That alone made it a popular platform to get.
An easy-to-use DeFi exchange
Easily one of the best things about the Uniglo is that it is very simple to use, and is very easily accessible to users, especially ones that are new to the market. The UI makes it easy to understand how they can stake their tokens, and how they can make the most of their investments. All in all, it is easily one of the best additions to the Ethereum network.