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UNI is the governance token behind Uniswap - a decentralized exchange that launched in November 2018. It created by Hayden Adams after being inspired by a post from Vitalik Buterin (Ethereum co-founder) suggesting for developers to create this kind of platform.
The Uniswap Protocol, built on top of the Ethereum blockchain, allows users to easily swap between any ERC-20 token in a completely decentralized manner. This means that users have the option to easily trade Ethereum-based tokens directly from their own personal wallets without the need to give up custody of their funds throughout the entire process.
It can be described as an Automated Market Maker as it allows users to provide liquidity to the pools on Uniswap in order to allow the trades to be facilitated. As a result, the Liquidity Providers can gain commissions from the exchange fees when trades are conducted on their pools. Currently, the exchange fee is set to 0.4% per trade which is distributed amongst the liquidity providers.
The protocol consists of two smart contracts on top of the Ethereum blockchain, the Factory contract, and the Exchange contract, that are both totally open-source - meaning anybody can take a look at the code and conduct their own review of it to make sure there are no bugs or ‘backdoors’.
The UNI token, the governance token for the Uniswap Exchange, was air-dropped to users on September 17th, 2020. It was distributed to traders that had used the Uniswap exchange before September 2020 in batches of 400 UNI tokens without any announcement.
One billion UNI were minted, 60% of which were distributed to Uniswap users. 21.51% was allocated for team members and future employees, 17.8% to investors, and the remaining 0.069% was allocated to advisors.
In this tag, you can discover UNI (UNI) news, price prediction, opinion, and analysis created by users.
5 Dec 2020 3 minute read 2 comments ChangeNOW
Originally published in the ChangeNOW blogIn today’s cryptocurrency market, everybody is trying to beef up their crypto holdings. Actually, there are five ways to do so if you are interested in getting some NOW tokens. Four of them imply using the pl...
22 Jul 2021 11 minute read 20 comments Mishal Alexander
Do you really know what a liquidity pool is or how it works? Have you ever wondered how liquidity pools like Uniswap really run it's operations? With this article, I would like to share some information about liquidity pools in terms of what it reall...
3 Oct 2020 4 minute read 38 comments Thomas Wolf
I am pleased to find that Coinbase has launched Loopring (LRC) support in my absence, along with Uniswap (UNI) and a few others.This is an exciting development for me because I understand Coinbase's ERC-20 support and you can send LRC directly to you...
14 Jan 2022 3 minute read 0 comments cybercrypto
DAO has been slowly growing in the market but still, it hasn't reached its full potential. Also, it didn't boom like NFT' had. People still understand it and slowly it's reaching the audience. DAO explanation DAO stands for Decentralised Autonomou...
8 Mar 2021 1 minute read 5 comments The Lynx
I will not beat around the bush here. I am counting on a bounce to Bitcoin and altcoins upon the stimulus news. We are already seeing the beginning of it. This is the biggest stimulus package being passed to date, especially in light of the $1400.00...
27 Feb 2023 1 minute read 4 comments BreakdownFab
You earned Ethereum (ETH) by writing or reading on publish0x or decided to buy some, and you have been searching for the best way to maximize your rewards on ETH by investing into staking or DeFi (Decentralized Finance). As you may know, native staki...
7 Jun 2022 3 minute read 2 comments GetBlock
The ‘DAO’ is a concept based on blockchain technology, which eliminates the need for a central governing authority. Recently, DAOs have been getting quite a lot of attention from developers. Let’s try to explain what having a DAO means in the crypto...
24 May 2021 4 minute read 0 comments Heath Muchena
Welcome. If you’re new to Decentralized Africa’s Case Studies, allow us to take a look at certain decentralized technologies and simplify how they operate. In this piece, we are going to look at Uniswap, a name that is almost unavoidable in the DeFi...
2 Nov 2020 1 minute read 0 comments FreedomBuilder
🏦 STC is Already listed in Uniswap, waves Exchange & Kanga Exchange.📈 Uniswap: 📈 Kanga: 📈 Waves Exchange: 🎁 Total Rewards: Receive up to 10 STC & 5 STC for each Referral. ✅ Visit the Student Coin Airdrop page. ✨ Airdrop Terms and condit...
5 Oct 2020 1 minute read 3 comments cMasta
So I made my first trade on Uniswap today after reading somewhere (*cough* here) that the UNI airdrop was still going on and immediately regretted it. I needed some Nexo tokens because the Nexo wallet is where I chose to stake my BTC, however I've ju...
