Can't believe that UNISWAP is going to implement KYC.As news like this continues to come out, we're going to be avoiding KYC as much as possible to protect our financial privacy, and I'm going to be advocating that for anyone who is reading this post. This KYC feature will be implemented in Uniswap version 4V4.It is set to launch in early 2024, so it's not out yet, but it will be and real quick.It's implemented through a hook, so a hook is a tool that allows developers to customize code without changing the overall structure of the project.That is Uniswap.So basically it's a case by case basis and this hook in particular that we're talking about is could be implemented on liquidity providers.So those are people who are depositing coins into pools to earn a passive income.So if a pool that you want to participate in wants to implement this KYC, they can go ahead and enable that hook onto their pool.

Now what how it works is you're going to obviously have to be providing your personal identifiable sensitive information to a third party because that's what KYC means, and in exchange for your verification, you'll be rewarded an NFT.If your wallet is holding this NFT, your wallet will be classified as verified and you'll be whitelisted and you'll be accepted everywhere and you'll be able to participate in certain liquidity providing pools that require this type of KYC. Any decentralized platform that also implements KYC is an oxymoron point blank.And why would they do this voluntarily? Yet we have yet to see a perfectly decentralized platform in cryptocurrency.You heard it.You heard it for the past five years, You're hearing it again.You guys have a lot to learn, OK?There's definitely efforts toward becoming more decentralized, and that's what we really want to keep seeing.

So here's some interesting takes on how this development of KYC on decentralized exchanges could be a bad sign for what's to come, especially for anyone who is really valuing their financial privacy. As it starts with a KYC option, which is what it is right now for liquidity providers. Then it eventually moves into a regular whitelist approved database hosted off chain and then non KYC gets labeled as illegal bad guy money laundering and and that's just the way it's going to kind of dilapidate in front of our eyes is anyone who isn't forking over their sensitive information must be a criminal because if you have nothing to hide, what do you have to worry about right?Who cares about privacy anymore?But here is a take on someone who actually is in support of this KYC and this is what we need to pay attention to as well.

Some projects may want to operate within the legal confines of a jurisdiction, and you know playing by those rules change day by day in terms of crypto regulation and friendliness.Hooks can be made by community doves.If you think KYC is what makes D Fi real, go back. If you are in favor of KYC on Unispop because you think it makes it verified and legitimate and friendly and government approved, well you're going to have a tool coming out from a government that you're going to love.But in the meantime, for those of us who know why crypto was created and what it was built to protect and as a tool for freedom, then all this KYC nonsense should just go out the window, right?They are implementing a .15% trading fee for 11 different assets on their front end UX.So if you're trying to use just UNISWAP, the regular front end, you're now going to be paying a .15% trading fee for coins like Ethereum, Wrapped Ethereum, Wrapped Bitcoin, USDTUSDC, and many others.And the kicker here is that Uniswap Labs has done has completely sidestepped those that are holding their governance token.They didn't put this up to a vote.These proceeds don't go to those who are holding the governance token.

Crypto was designed to remove the third parties.It becomes much more efficient without third parties and cheaper.Now, well, they're including a third party for your KYC information. I this might not be directly tied to UNISWAP labs, but in the future they're going to need to pay for this, you know, processing and storage of your personal information.Is that where why they're implementing these fees now so they can afford that in the future?Let me know what you think in the comments.These are really important things that we need to pay attention to if we want.