About Uniswap
Uniswap is a decentralized trading platform based on Ethereum supporting the swap of ETH and ERC-20 tokens. This AMM-based platform allows anyone to add any ERC-20 trading pairs and earn rewards from providing liquidity.
On 31st August 2021, Uniswap v3 was deployed on Arbitrum, a Layer 2 network through which transactions can be confirmed immediately with low gas fee, which is different from Layer 1.
How to use Uniswap on Arbitrum?
Preparations
- Switching to Arbitrum account.
- Preparing sufficient ETH in the Arbitrum wallet to pay gas fee for follow-up transactions. There are two ways to deposit ETH in the Arbitrum wallet, namely through exchanges or bridges. Check out the details in How to use Arbitrum with imToken?
Entering Uniswap
Method 1
Open the Arbitrum account, swipe the function bar to the left and click "DApp" and scroll down the page to find Uniswap. You can launch the DApp after confirming your address is public to the site.
Method 2
Open the Arbitrum account in imToken then type “Uniswap” in the search bar on the “Browser” page to open Uniswap.
In Uniswap (Arbitrum), you can provide liquidity and enjoy low-cost and fast token swapping.
How to swap?
1. Choose the token that you want to swap and enter the amount. Then, click “Swap” and “Confirm Swap” after checking all the information.
Note: Approval is required for the first swap of an ERC20 type token.
2. You can check the details in “Payment Details”. After that, click “Next” to enter your wallet password to complete the swap.
Note: Miner fee can be customized by clicking “Miner Fee”.
How to add liquidity?
1. Switch to “Pool” at the bottom and click “+ New Position” to add liquidity.
2. Choose a pool that you want to add, such as ETH-USDT, and enter the amount. After that, click “Preview” to check the details and click “Add”.
3. After checking all the information in “Payment Details”, click “Next” to enter your wallet password for adding liquidity.
Note: Miner fee can be customized by clicking “Miner Fee”.
How to remove your liquidity?
1. Switch to “Pool” at the bottom to view your positions.
2. Choose the liquidity pool that you want to quit and click “Remove Liquidity”. Then, set the amount that you want to remove and click “Remove”. Click “Remove” again after you have checked all the information.
Note: Please click “Increase Liquidity” if you want to add more liquidity to the pool.
3. After checking all the information in “Payment Details”, click “Next” to enter your wallet password for removing liquidity.
Note: Miner fee can be customized by clicking “Miner Fee”.
Note：
- There may be impermanent loss in liquidity mining, learn more: https://finematics.com/impermanent-loss-explained/
End
For best security on large amounts of crypto, consider our hardware wallet, imKey. imKey also allows users to use Uniswap and supports the Layer 2 ecosystem.
Risk Warning: The content of this article does not constitute any form of investment advice or recommendation. imToken does not make any guarantees and promises for the third-party services and products mentioned in this article, nor assume any responsibility. Token investment has risks. You should carefully evaluate these investment risks and consult with relevant professionals to make your own decisions.