Decentralized trading platform Uniswap has launched its highly anticipated governance token UNI on September 16.
- The governance token is bid by the team to make the platform more decentralized, with community governance arriving on launch
- Four liquidity mining pools are currently available: ETH-DAI, ETH-USDT, ETH-USDCand ETH-wBTC
- 15% of the 1 billion supply has been distributed to historical liquidity providers; 5 million UNI has been allocated for each liquidity mining pool as rewards
- The token will be distributed as follows: Uniswap community members (60% of supply), team members/future employees (21.51%), investors (17.8%) and advisors (0.69%)
- The launch was precipitated by the SushiSwap platform, which had attempted to lure Uniswap users with better returns and lower fees
- The unaudited SushiSwap platform has received a good deal of criticism both for its unaudited nature and its token distribution
Related Reading:
- Uniswap has largest DeFi userbase
- Uniswap helps DEX volume cross $11 billion
