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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.
3 May 2021 1 minute read 2 comments Defiant Pathfinder
Currently the crypto market is so bullish with most of then skyrocketing. I have an article which i wrote about Ethereum skyrocket and it was trading around $2,600-$2,700 which was the all time high by that time and i said it is not stopping, surely...
3 May 2021 1 minute read 2 comments mongooze_io
Ethereum (ETH), the second-largest cryptocurrency, is on a bull run hitting an all-time high of $3000. As of this writing, it is hovering between $3160- $3170. The price increase for the past seven days was recorded at around 27% and was trading at...
2 May 2021 1 minute read 2 comments Defiant Pathfinder
As it is said no idea is original. It obvious someone might come up with something then somebody else might take that something and perfect it in every way he could trying by all means to get rid of all the bottlenecks so than he can have a well cra...
2 May 2021 2 minute read 2 comments alquimista1501
The path becomes more evident and the route to be followed takes us as a destination to London. An update status that we wait to see how the full potential of the Etheriun (ETH) network exploits before the arrival of Serenity. The truth is that this...
2 May 2021 1 minute read 1 comment Defiant Pathfinder
Ever since 25 March till and of April the crypto market has been bullish and altcoins and tokens has been breaking levels and setting new all time high. On 12 April Binance Coin set an all time high of $638, then on 14 April Bitcoin set $64,800 and...
1 May 2021 2 minute read 1 comment Defiant Pathfinder
Altcoins has dominated the Crypto currencies market for a decade now but the tables seem to be turning now as there is another challenger in the ring. Decentralized Finance (DeFi) Tokens re now making headlines and the rate of adoption is overwhelmi...
1 May 2021 3 minute read 2 comments Spheroid Universe
1. A user adds liquidity to the SPH-ETH pool on Uniswap.2. A user receives income daily: in SPH and in ETH3. A user at any time and at his own expense can make a Claim of the accumulated farming (the first Claim can be made 7 days after the start of...
30 Apr 2021 1 minute read 2 comments Defiant Pathfinder
A lot are always being caught up on the side of being resistance to change. When something new is introduced on the block it is good to take a glimpse and see if you can benefit directly from it. Whenever there are new things introduced mostly they w...
29 Apr 2021 1 minute read 0 comments Defiant Pathfinder
'The earliest birds catch the fattest worms', i am sure most of us are familiar with that phrase. This also applies in the crypto markets as the early adopters of a certain crypto listed on the markets, they tend to benefit more as compared to the la...
28 Apr 2021 1 minute read 3 comments Defiant Pathfinder
The crypto currency market is making wave these day as almost every altcoins are performing well. After the market took a dip, i never knew it will rebound this quick, the correction was quick as anticipated. Out of so many i took only 3 cryptos whic...
