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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.
17 Oct 2020 1 minute read 3 comments ircrp
One of the most awaited Initial Coin Offering (ICO) since the times of EOS cryptocurrency has finally delivered on its long awaited promise and launched its main net, opening the doors to the token being listed on exchanges. Filecoin (FIL) the toke...
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...
16 Oct 2020 3 minute read 2 comments Exponential Crypto
Picture for a moment a warm summer evening, with clear skies, a nice breeze, and a small amount of ETH in a crypto wallet. This is where my UNI story begins. My First Transaction Sometime in July I experimented with some of my tokens I received fro...
16 Oct 2020 5 minute read 14 comments Guarda Wallet
What Is Uniswap? Uniswap is a kind of a decentralized protocol for automatic liquidity based on Ethereum. Frankly speaking, Uniswap allows you to automatically sell and buy ERC-20 tokens relying on its ability to change the value of tokens. Why Shoul...
15 Oct 2020 1 minute read 0 comments author_nan
Uniswap’s first governance proposal, initiated by DeFi platform Dharma, has stirred up controversy as some community members allege that the proposal is designed to favor whales. The proposal is aimed at altering the proposal submission and quorum r...
15 Oct 2020 3 minute read 13 comments Creepto
I Just had my first experience with trying to vote. No, not that vote - I tried to vote on a Uniswap resolution that was put forth by a big company (Dharma), trying to take over the protocol, by lowering the limits to making and passing proposals. An...
14 Oct 2020 1 minute read 0 comments Suryakantdalai
Remember to read the date of this post carefully. In this post, you will get the live price of daily UNI. We also provide you with the UNI's market capitalization, weekly, monthly value, trading volume, peak and lowest prices and trading volume. We a...
12 Oct 2020 4 minute read 0 comments gniksivart
To be honest, I was debating this morning if I even write something or comment about what was going on, after all, I didn't have any facts and it's just my opinion. I can't believe some of the negativity I've seen, however. Most if not all of it ha...
11 Oct 2020 1 minute read 0 comments kingscrown
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11 Oct 2020 3 minute read 1 comment MellardGibbons
DeFi is booming, and with this excitement hoards of swindlers have surfaced like ravenous sharks seeking your funds as if there were blood in the water. With recent high profile rug pulls from the likes of $SUSHI, $HATCH and $CBDAO (Bree), there seem...
