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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.
25 Feb 2021 1 minute read 12 comments Tomatosoup
An unlucky Uniswap user was hit with gas fees costing $39,617.28 for a single transaction on Tuesday. Even for a whale that kind of fee has to hurt, if only in the form of damaged pride. Andrew Redden chief technology officer of crypto subscriptio...
25 Feb 2021 4 minute read 19 comments Godsplan
Hi everyone, today l’m here again to share with the whole community another Important update in the crypto market and this time particularly DeFi. DeFi is a great way to earn passive income but most of us are left behind because of the transaction...
23 Feb 2021 1 minute read 1 comment PiotreQ
Registration link to earn for using the search engine (you search for the words you want and for each search you get 0.25 tokens, i.e. for 4 searches you get a cent,the token is on several exchanges, you can exchange, for example, in the unifswap lis...
23 Feb 2021 1 minute read 1 comment Makingdigital
Bitcoin's sharp correction below $ 50,000 has triggered a massive sale of DeFi tokens and Altcoins. Many investors are scared that this bearish inertia will continue and quickly exit the market to minimize losses. One of the most affected tokens has...
22 Feb 2021 1 minute read 0 comments Clemnms51
Uniswap is a decentralized exchange where you can buy and sell your cryptocurrencies. It was one of the first platform working like that (even the first maybe ?), and is nowadays the most famous too. High fees are killing users If Uniswap respects...
21 Feb 2021 1 minute read 1 comment Ayman Crypto
Uniswap Cryptocurrency (UNI) as we told before in the last article is one of the important coins, which is going to be a super coin that has been trading at $ 14.3792 & we put the target at $ 43.0000 as a first step You can go to read it here >>> U...
21 Feb 2021 5 minute read 29 comments Godsplan
Hi everyone, I’m here again to spread some good news in the crypto market that maybe many of us might have not taken notice about. If we check generally, l can say the month of February had being a great month for bitcoin and its other alternative...
19 Feb 2021 4 minute read 0 comments fycee
If the Phase 1 of the TULIP was a success bringing the TLOS price from $0.04 to a steady $0.25 (even reached $0.36) then there's more to come since the Phase 2 is about to happen this March! Bounce.Finance is a Decentralized Auction Protocol. A swap...
19 Feb 2021 1 minute read 0 comments xyzashu
Uniswap had became such a strong brand in the space of AMMs that it has become a challenge not only for other AMM projects but also for several centralized exchanges. Uniswap has led the DeFi revolution by successfully establishing itself as the t...
16 Feb 2021 2 minute read 0 comments chris04
Uniswap is a decentralized exchange protocol built on Ethereum. Uniswap, like the other DEFI protocols, allows users to trade without intermediaries, with a high degree of decentralization and resistance to censorship and without any KYC. Uniswap wor...
