Brief history of Uniswap
Uniswap was created by Hayden Adams, inspired by an article published by Ethereum founder Vitalik Buterin. In July 2017, H. Adams was fired from his job as a mechanical engineer at Siemens, his first post-graduation job.6. A friend working at the Ethereum Foundation encourages him to move towards Ethereum, which he sees as the way of the future, with this prophecy: “Your new destiny will be to write smart contracts”, even as H. Adams has, at the time, no knowledge of programming6. In order to develop this new skill, he embarked on a “real” project: setting up an automated market maker.
Still this friend, who had convinced him to study programming in the field of cryptocurrencies, then presented a demo of Uniswap at the DevCon 3 conference as an example illustrating the power of open source financial applications based on Ethereum and in connection with the cryptocurrency economy.
A conference participant, Pascal Van Hecke, contacted H. Adams, determined to support this initiative, for which he subsequently granted him a grant equivalent to one month of research on automated market makers. P. Van Hecke enriches the project with new ideas and their weekly telephone update brings H. Adams a sense of accountability which helps him to structure his work.
In November 2018, H. Adams made a public statement to his 200 Twitter followers; for most, this is the first time they have heard of the project. Almost two years later, in September 2020, Uniswap launched its UNI management token via AirDrop (Apple’s file transfer feature) to everyone who had used the protocol before then.
In May 2021, the third version of Uniswap is launched, with new features, such as concentrated liquidity as well as several pricing tiers.