Union Square Ventures (USV) is a venture capital firm based in New York City, specializing in investing at the intersection of large markets undergoing transformation due to technological and societal shifts. They focus on early-stage companies that stand at the forefront of innovation across various sectors.


Uniswap is a decentralized exchange protocol (DEX). It allows people to set up or contribute to liquidity pools consisting of various ERC-20 token pairs, or to use the available liquidity to swap their tokens against another using its Automated Market Maker (AMM) mechanism. 


### Why

AMMS are one of the building blocks in the crypto space as they always provide users with a price between two assets. Uniswap uses a simple  X * Y = K, formula to price assets where x is the amount of one token in the liquidity pool, and y is the amount of the other. k is a fixed constant, meaning the pool’s total liquidity is always the same. 


### Risk

There are various risks involved with using AMMS. These include but are not limited to:
Protocol Risk - risk due to mechanics in the design of a protocol. Even when the protocol functions as intended there might be risks e.g. high slippage incurred in trades due to the liquidity curve set-up
Smart contract risk - This is risk from an error in the code causing the contract to operate in ways unexpected by the developers. It might leave the code vulnerable to exploits or other attacks
Cybersecurity risk - Hackers, Exploiters or other malicious actors trying to attack Uniswap 


### Reward

Uniswap is arguably one of the largest AMMs in crypto and is usually the protocol where tokens find the most liquidity. Its UI/UX is extremely simple and users can trade most tokens with little problems.   


Uniswap

Ceramic is a decentralized data network that brings unlimited data composability to Web3 applications.

Ceramic

Arweave is a new type of storage that backs data with sustainable and perpetual endowments, allowing users and developers to truly store data forever – for the very first time.

Their mission is to become the new Library of Alexandria, but invulnerable to the pitfalls of centralised points of failure, ensuring that humanity’s shared knowledge and history is available to all future generations.

Union Square Ventures

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