• One billion UNI tokens will be released to the public over the next four years.
  • Uniswap presently has $757 million locked up in its protocol.

Uniswap, the decentralized trading platform and a premier DeFi project, has launched its governance token – UNI. One billion coins will be released to the public over the next four years. The token allocation will look like this:

  • Uniswap community: 60%.
  • Team members: 21.51%
  • Advisors: 0.69%
  • Investors: 17.8%

The company announced about the token:

UNI officially enshrines Uniswap as publicly-owned and self-sustainable infrastructure while continuing to carefully protect its indestructible and autonomous qualities.

Uniswap vs. SushiSwap

This move is a direct response to SushiSwap sucking away over $800 million of Uniswap’s liquidity. The two are currently battling to reign supreme in the automated market makers (AMMs) space. SushiSwap, as previously reported, is trying to recover after a long period of internal politics and drama.

Uniswap liquidity mining

Uniswap will launch a liquidity mining program on September 18 that’ll target its USDT, USDC, DAI and wBTC pools. The firm also made it clear that the team members will not participate in governance in the near future. They can, however, delegate votes to protocol delegates. All UNI holders will have ownership of the governance process.

Binance lists UNI

Binance immediately listed UNI and has opened trading for UNI/BTC, UNI/BNB, UNI/BUSD and UNI/USDT trading pairs. Since the Exchange recently came under fire for listing the SUSHI tokens, they released the following cautionary message:

UNI is a new token that poses higher than normal risk, and as such, will likely be subject to high price volatility. Please ensure that you exercise sufficient risk management, that you have done your own research in regards to UNI’s fundamentals and fully understand the project before opting to trade.

Uniswap TVL

DeFi Pulse allows us to check the total value locked (TVL) up in Uniswap’s protocol.

fxsoriginal

As of now, it has $757 million locked in. Before SushiSwap, the TVL was around $1.82 billion TVL. 
 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

XRP getting ready for a 50% upswing as consolidation hits the elastic limit

Ripple’s overhead barriers are still in place, as highlighted on the 4-hour chart. The seller congestion at $0.3 is an uphill battle, so is the 50 Simple Moving Average. 

More Ripple News

ADA technical and on-chain levels confirm a 60% explosion to $0.6

Cardano recently confirmed a breakout in away validating the 900% upswing prediction we discussed last week. Several hurdles have been shattered at the time of writing, including $0.3 and $0.35, adding credence to the potential breakout to $0.6.

More Cardano News

Yearn.Finance brushes shoulders with $40,000 overshadowing Bitcoin’s $36,000

Yearn.Finance has consistently recovered from the recent dip to $25,000. The price drop was not unique to the decentralized finance (DeFi) token but affected the entire cryptocurrency space. 

More Yearn.finance News

LINK squabbles under heavy selling pressure, downswing targets $16

Chainlink is up 10% in the last 24 hours and a whopping 52% in the previous seven days. After breaking above $20, LINK soared to a new record high at near $24. Meanwhile, the uptrend seems to have hit the ultimate point, as selling pressure finds its way back into the market.

More Chainlink News

BEST CRYPTO BROKERS/EXCHANGES




Bitcoin Weekly Forecast: BTC price faces extreme volatility ahead of a new all-time high

Bitcoin had a wild run this week, dropping from a high of $41,350 to a low of 30,420 in less than 48 hours. 

Read the weekly forecast

BTC

ETH

XRP