The famous Uniswap protocol, which allows exchanging any token on the Ethereum blockchain, will have its proprietary token, UNI.
We’re thrilled to announce that UNI, the Uniswap Protocol governance token, is live now on Ethereum mainet!
Ethereum Address: 0x1f9840a85d5af5bf1d1762f925bdaddc4201f984
— Uniswap Protocol 🦄 (@UniswapProtocol) September 17, 2020
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.
Since the launch of the UNI token, there have been many comments from users who are now seeing the end of the Sushi protocol.