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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.
1 Mar 2020 1 minute read 21 comments tomoyan
Publish0x uses different tokens for earnings, HYDRO, DAI and BAT, and when you have different Ethereum based tokens, sometimes you want to convert them into another token like Ethereum because many exchanges support Ethereum for cashing out. Uniswap...
9 Feb 2020 1 minute read 0 comments Bitcoin Faucets
Following on from my last post on DefiSnap, a portal that gives you an overview of all of your defi investments, there is another analytics tools thats pretty incredible if you are dipping your toes in the Defi waters.Uniswap is a decentralised excha...
9 Feb 2020 1 minute read 0 comments Bitcoin Faucets
If you've become hooked by the recent innovations in the Ethereum Defi (Decentralized Finance) realm, there's a cool tool that you should really know about. When you have a range of investments, it becomes time consuming and fiddly to constantly kee...
5 Feb 2020 1 minute read 0 comments favicon
I already made $20.80 on ReviewHunt since the Relaunch. It's super super good, and working - but what to do with the tokens? Until today it was only tradeable on some obscure KYC Korean exchange, but this has changed now. Someone started a DEX based...
1 Feb 2020 7 minute read 2 comments bengy
Source I had first heard of Uniswap (a novel take on the decentralised exchange (DEX) based on the Ethereum blockchain) on a podcast of Unchained where the host Laura Shen interviewed the developer of Uniswap (Hayden Adams) about the project. At t...
23 Jan 2020 1 minute read 0 comments Dan
Uniswap.io a decentralised exchange where you can swap any ERC20 token for Ethereum or other ERC20. Or vice versa. Using Liquidity Pools. It is available worldwide and has no KYC restrictions at present. How it works Uniswap is made up of a series...
24 Mar 2019 4 minute read 8 comments Niklas Spille-Scheich
"Use this magical internet money of ours", they said, "you can use it in every place you visit in this world" (as long as it provides internet access). That's a great vision of what Cryptocurrencies might achieve in real life one day. Cryptocurrencie...
20 May 2024 2 minute read 0 comments AntiScam
Thanks to AI TechBro garbage, scammers now have full fledged multi-social media network posts, interlinked to each other, where BOTS comment on how much money they have made, all fueled by AI, and BOTS. Social media platforms like Youtube and X/Twit...
19 Jan 2024 1 minute read 2 comments BreakdownFab
At the beginning, there was the Uniswap airdrop. Remember, the first DEX on Ethereum... I was happy to get this one... Twice, because I had two wallets. Then, there were the Optimism and the huge Arbitrum airdrops. I was very happy to get these both...
24 Nov 2023 1 minute read 0 comments Candlestick
From stealth signal bought in right before the airdrop, to the second stealth bought before the Binance listing, to DeFi OG Yfimaxi.eth withdrew 700K $BLUR from staking and sold all for $439,398 back when $BLUR stands at above $0.62. 🥷Stealth Sig...
