The Enjin Smart Wallet was launched in January 2018 by Enjin Pte. Ltd. The wallet is designed to provide a high level of security and support a wide range of digital currencies.
In our previous articles (Part I, Part II) we explained how to create and import an Enjin wallet and what different features the platform supports.
In this article we explain how you can use Uniswap with the Enjin Wallet.
The Enjin wallet supports the dApp browser which allows users to interact with the various decentralized applications. As you navigate through the dApp browser, you can easily see a large number of applications divided into five different main sections:
- DeFi
- Exchanges
- Games & collectibles
- Marketplace
- Other
Now to connect to Uniswap, navigate to DeFi and search for Uniswap.
The wallet landing page opens. You can see your wallet is plugged in at the bottom of the page.
Uniswap mainly supports two main functions:
To deceive
By default, you are on the swap page. As the name suggests, you can exchange tokens here. Simply select the input and output tokens and the input token value. The Max button This option allows you to exchange your entire token value. The platform automatically calculates the issuing token.
Choose Confirm swap Click the button if you agree to the details of the transaction fee. Your tokens will be exchanged.
swimming pool
A liquidity pool is a pool of tokens in Uniswap created by liquidity providers. In return, liquidity providers receive rewards in the form of trading fees.
When a user trades a token, the token is immediately sent from the pool. So you don’t have to wait for a buyer / seller without worrying about price fluctuations.
You can create a new exchange pair in a new token liquidity pool. Uniswap does not charge a fee (other than the Ethereum gas fee) for creating a new pair.
Create a couple
You can create your own pair if it’s not on the existing Uniswap pool list. Users receive a pool token (ERC20 token) when they create a new pool pair and contribute to a Uniswap liquidity pool.
click on Create a couple button
You will be asked to select the token pair.
Approve both MANA and MATIC transactions to create a liquidity pool.
Important: Carefully choose the ratio of the pair to offset the market price.
Add liquidity
Click on Click the Add Liquidity button. You will be asked to select the token pair. We randomly selected a couple from ETH and BAT. Users have to pay the same value for both tokens they want to bundle.
So just set your desired value against a token and the value of the other token will be displayed automatically.
Note: The two tokens of the Uniswap liquidity pool can either be ETH and ERC20, or both can be ERC20 tokens.
Once you have approved the liquidity pool, press the button Authorize Button, it will be available for Deliver.
If you click on DeliverYour pool token share will be displayed on the next page and prompted to do so Confirm delivery.
Uniswap shows you the percentage of your share in the pool. Users receive rewards in this ratio.
Important: In case the price of the pair changes during the operation, Uniswap will show you a highlight with the new rate.
Note: You will receive a pool token that is proportional to the pool share. You also earn a fee equal to your share. You can also remove your liquidity at any time.
UNION token
The UNI token is Uniswap’s native governance token for the Uniswap protocol, which was launched in September 2020. Every user who used the Uniswap protocol before September 1st received an air drop of 400 UNI.
UNI holders can participate in the management of the Uniswap protocol, ie in changes, upgrades and improvements.
Users can also get UNI from Uniswap Liquidity Mining. Uniswap currently supports four liquidity mining pools that you can participate in. Instead of receiving fees for the underlying pair of tokens, you will receive the fee in UNI tokens.
- ETH-DAI
- ETH-USDC
- ETH-USDT
- ETH-WBTC
There is currently no suitable utility for the UNI token. However, with the release of Uniswap v3, we can expect an additional liquidity mining pool and token utility in the near future.
Conclusion
The Enjin wallet offers many attractive features to its users. It supports ERC 1155 tokens which can be used in multiple games and sold in the market directly through the app. The wallet can be easily integrated into Uniswap and the user interface is very user-friendly. However, with the introduction of the MetaMask mobile wallet, it will face tremendous competition.
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