We’re excited to announce our integration with Uniswap, empowering our customers and their contractors with more flexibility when it comes to funding and withdrawing in cryptocurrencies. Through our Uniswap ramp, there are now 100 cryptocurrencies available. Uniswap bolsters our existing dual-payroll (fiat and crypto) offerings strengthening our all-in-one solution for team payments.
Uniswap At a Glance
- Released v1 in November 2018, v2 May 2020, v3 May 2021
- Built on top of the Ethereum network
- 70% market share on Ethereum and used by over 83% of DeFi users
- Over $5.5 Billion in TVL Locked
What makes Uniswap special and how does it work?
At the most basic level, Uniswap is a decentralized financial protocol that provides an alternative to traditional or centralized exchanges in order to facilitate efficient cryptocurrency trading and liquidity provision. Uniswap is viewed as an essential utility in the DeFi space and is built on the Ethereum network. Rise is the first team payment system to integrate Uniswap.
Transactions of all sizes take place on Uniswap, hosting hundreds of thousands per day. The blockchain Uniswap is built on serves as a record keeper, maintaining a ledger or order book for all transactions that take place. Uniswap is able to operate this way by being built on the blockchain as an Automated Market Maker (AMM).
A decentralized exchange or AMM such as Uniswap hosts liquidity in the form of token pools to facilitate trading between a variety of cryptocurrencies. Token pools simply are a collection of two cryptocurrencies that enable trading between a token pair like UNI and ETH.
Through this ramp, organizations can now fund their Rise balance in 100 different crypto currencies and enable their teams to withdraw in 100 different cryptocurrencies. Rise’s integration of Uniswap is the first of its kind in the payroll industry, giving businesses the opportunity to upgrade existing payroll capabilities and offer more flexibility to their workforce.