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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 Jan 2021 1 minute read 2 comments ManuelAR
These are exciting times, Ethereum passed the 1,000 USD price barrier over the weekend. There is a lot of activity in the market, and Defi exchanges have been doing a lot of business. That has meant that the Ethereum mainnet, which handles most Defi...
4 Jan 2021 1 minute read 1 comment JayC0730
So, here we are in another bull market but what I've noticed is that once again transaction fees skyrocket. I have a few coins I am planning to sell in the ETH network. My biggest hold is HEX but now I may not have enough ether to pay the gas fees wh...
3 Jan 2021 1 minute read 5 comments Thingsyousee
Polkaswap: a decentralised token exchange for the Polkadot ecosystem. The Polkaswap testnet is now live and it looks amazing if you would ask me https://test.polkaswap.io/exchange/wallet The features that you can play around with right now are swa...
1 Jan 2021 1 minute read 0 comments JiFouille91
Bonjour a tous, Here comes my second article regarding RealT (and the first in English!) : During the last community call the team announced some updates around the API that now included DeFi information, we'll see how we can use this new source of d...
25 Dec 2020 1 minute read 8 comments georgia86
Tl;dr :Polkaswap Polkaswap has announced already that there will be a pswap token for liquidity providers. How can one become a liquidity provider? Wait until Q1 2021 of course Polkadot, whose mainnet launched this year, is promising to be an ethereu...
25 Dec 2020 1 minute read 1 comment georgia86
So hi everyone! After months, 1inch exchange has finally launched their token According to their medium article, liquidity providers should have received their tokens Anyone who used 1inch exchange before Sep 15 and did it 4 times or did a transact...
24 Dec 2020 4 minute read 0 comments JaksHitam
Yield farming, moreover insinuated as liquidity mining, is a way to deal with produce prizes with cryptographic cash assets. In essential terms, it suggests making sure about advanced types of cash and getting rewards. In some sense, yield farming ca...
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...
18 Dec 2020 1 minute read 1 comment Cyph3rpunk
Syntlayer is a new Defi project which is a fork of Reflect Finance(RFI) and Iteration Syndicate(ITS) with a burn mechanism after each rebalance. Developed by akshaynexus (developer behind Relayer Network) Before jumping into how Syntlayer works,let...
18 Dec 2020 1 minute read 0 comments rmsadkri
As I have mentioned in my previous post, things are spicing up at the White House in relation to Bitcoin and Crypto. We have a senator-elect who publicly announced her own pocket of BTC and has selected the senior staff to be experts in the crypto sp...
