Commit 11259b35 authored by Hayden Adams's avatar Hayden Adams

update about text

parent c9253206
...@@ -681,14 +681,11 @@ class App extends Component { ...@@ -681,14 +681,11 @@ class App extends Component {
{this.state.about ? {this.state.about ?
<section className="expand grey-bg border pa2"> <section className="expand grey-bg border pa2">
<p>Uniswap is a trustless, decentralized exchange for Ether and ERC20 tokens</p> <p>Uniswap is a trustless, decentralized exchange for Ether and ERC20 tokens. It uses a market maker mechanism, where liquidity providers invest a reserve of ETH and a single ERC20 token within an Ethereum smart contract. An exchange rate is set between the tokens and ETH based on the relative availibility of each token. A small transaction fee is payed to the liquidity providers proportional to their investment.</p>
<p>Uniswap exchange uses a "Market Maker" mechanism, where liquidity providers store a reserve of ETH and ERC20 tokens within an Ethereum smart contract. An exchange rate is set between the tokens and ETH based on the relative availibility of each token. Arbitrage ensures that the rate will be the same as on other exchanges. Buyers who send Token 1 to the smart contract will receive back Token 2 at the current rate. A small fee is paid from the buyer to the liquidity providers to incentive participation.</p> <p>There is a separate contract for each ETH-ERC20 pair. These contracts can "tunnel" between each other for direct ERC20-ERC20 trades. Only one exchange can exist per token, and anyone can contribute liquidity to any exchange. A factory/registry contract provides a public interface for creating new Uniswap exchanges, and looking up the exchange associated a given token address.</p>
<p>A full writeup will be available soon. Until then, here is some more info on Market Makers:</p> <p>A full writeup will be available soon. Until then, here is some more info on Market Makers:</p>
<a target="_blank" rel="noopener noreferrer" href="https://www.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/">https://www.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/</a>
<a target="_blank" rel="noopener noreferrer" href="http://vitalik.ca/general/2017/06/22/marketmakers.html">http://vitalik.ca/general/2017/06/22/marketmakers.html</a>
<p>Please reach out if you would like to get involved or support the project.</p> <p>Please reach out if you would like to get involved or support the project.</p>
<p>Email: <a href="mailto:hayden@uniswap.io">hayden@uniswap.io</a></p> <p>Email: <a href="mailto:hayden@uniswap.io">hayden@uniswap.io</a></p>
<p>ETH Address: 0x4779721CaC18A46DbCF148f2Dd7A8E6cc1F90078</p>
</section> </section>
: <section className="expand grey-bg border pa2 hidden"> </section> : <section className="expand grey-bg border pa2 hidden"> </section>
} }
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