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Uniswap launches the UNI token
Uniswap launches the UNI token
Defi

Uniswap launches the UNI token

By Alfredo de Candia - 17 Sep 2020

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The famous Uniswap protocol, which allows exchanging any token on the Ethereum blockchain, will have its proprietary token, UNI.

Over time, this protocol has provided liquidity and support to all those tokens that could not manage to be listed on centralized exchanges and therefore Uniswap has served as a permissionless, secure and immutable trading platform, allowing to also list new tokens

The numbers of the protocol are really impressive. In less than 2 years it reached:

  • More than $20 billion in volume, from over 250,000 unique addresses and over 8400 different tokens;
  • Over 1 billion funds deposited from over 49 thousand addresses, which generated 56 million dollars in fees;
  • A significant position as a DeFi platform that has been integrated into many other protocols and platforms.

And so now Uniswap has decided to launch the UNI token on the market, which will allow the platform to finance the work of the project team for the coming years.

Uniswap’s UNI token

Specifically, this is an ERC-20 token with a total supply of 1 billion UNI.

The UNI tokens will be distributed as follows:

  • 60% to the members of the community, i.e. 600 million;
  • 21.51% to the team, then 215101000;
  • 7.80% to investors, 178 million;
  • 0.089% to advisors, i.e. 6899000.

 The token is available by interacting with the platform. 15% have already been distributed after taking a snapshot of addresses using Uniswap.

The snapshot was taken at the end of September 1st, 2020:

  • 4.92% tokens for the 49192 liquidity providers;
  • 10.06% among the 251534 addresses of the various users;
  • 400 UNI to all those who interacted with the platform but whose transactions failed, about 12 thousand addresses;
  • 0.02% to holders and redeemers of the SOCKS token.

 The UNI token was immediately listed by the Binance exchange and others, and already has a value of about $2.50, already entering the top 10 of the tokens with the highest capitalization.

Since the launch of the UNI token, there have been many comments from users who are now seeing the end of the Sushi protocol.

 

Alfredo de Candia
Alfredo de Candia

Android developer for over 8 years with a dozen of developed apps, Alfredo at age 21 has climbed Mount Fuji following the saying: "He who climbs Mount Fuji once in his life is a wise man, who climbs him twice is a Crazy". Among his app we find a Japanese database, a spam and virus database, the most complete database on Anime and Manga series birthdays and a shitcoin database. Sunday Miner, Alfredo has a passion for crypto and is a fan of EOS.

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