Uniswap is not a magic order book — and why that matters for US DeFi traders
A common misconception among new DeFi users: Uniswap is “just like” a centralized exchange but without the middleman. That simple equivalence misses the protocol’s real mechanism, its safety trade-offs, and the practical behaviors that should shape how you trade and provide liquidity. Uniswap is an automated market maker (AMM) — a deterministic smart contract system …
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