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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.
27 Mar 2021 2 minute read 0 comments Nas.A
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11 Aug 2020 1 minute read 0 comments alberdioni8406
It's one more record to this DEX protocol, after being the most used exchange which gathered more than 40% of the total transactions volumes on July, helping the Decentralized exchanges to secure more than $4 B in trading negotiations, the Uniswap au...
21 Apr 2021 2 minute read 7 comments Qryqtx
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19 Dec 2020 2 minute read 5 comments ManuelAR
The birth of the Uniswap protocol in November 2018 brought about a revolutionary new way of trading ERC-20 tokens in a decentralized way. This protocol employed a novel mechanism that solved various problems facing market makers. It didn’t take long...
16 Oct 2020 6 minute read 2 comments Abhijoy Sarkar
Hi Parachuters! This has been a long time coming. With a ton of pending weekly updates dating back to 26-Jun-2020, I thought it would be best to club all the Parachute news into monthly reports and publish them back-to-back over the next few days to...
1 Sep 2020 1 minute read 1 comment alberdioni8406
The decentralized finances (DeFi) protocols are just going insane, with the new Uniswap fork, the well acclaimed and misterious Sushiswap protocol with just 3 days of announcement in the market locking up more than $700,000.000 in total value locked...
1 Oct 2020 1 minute read 3 comments mrpugi
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27 Feb 2024 1 minute read 0 comments KMatt
Uniswap, the market-leading DEX, saw a 70% increase in its UNI token over the weekend, rising from just over $7 to as high as $12. There are several possible reasons for this surge: - Governance update plan: The Uniswap Foundation recently presented...
30 Sep 2022 4 minute read 0 comments Eddyc
Greetings friends; Developing successful products in the crypto world seems like an easy task, but only those who live in this world understand that it's not just about having capital, a team and will, but it requires the need to see the needs o...
4 Nov 2020 1 minute read 2 comments Nas.A
Uniswap and My Experiences... Uniswap is Ethereum-based Ethereum protocol that emerged for the purpose of exchanging ERC-20 tokens. Uniswap has a decentralized structure. It works with a design called Constant Product Market Maker, which is...
