This might actually be a good thing for decentralized exchanges and web 3 in general, but just how decentralized is Uniswap if the company can remove tokens from their interface at will?
129 Tokens Removed
For regular users that trade any of these 129 tokens your life may have just become a little more complicated as they'll no longer be accessible within the Uniswap UI.
While these tokens can no longer be viewed through the main UI they can still be accessed through the tokens smart contracts. No doubt power users will be sharing a couple "how to's" for those uninitiated in manually accessing tokens through their smart contracts.
It’s been noted by onlookers, that a number of tokens removed could be considered securities by global regulators and some of them were synthetic equities tokens. -https://news.bitcoin.com/
Uniswap's interface is owned and operated by Uniswap, a company registered in the U.S. The website Uniswap.org is owned by the U.S. entity.
This makes them potentially vulnerable to attack from the crushing hand of SEC regulators. It's a reality that we need to face. While the code is decentralized there is a US registered company behind the interface, by nature this front end is not decentralized.
Must Build More Front Ends
We need more decentralized front ends to access the decentralized web 3 code that we love to play with on a daily basis.
This development will likely need to come in the form of anonymous contributions and community initiatives, and it's totally possible.
This is the reason why open source tech rules, it can be forked and operated often anonymously. We need community backed and built tech that doesn't have a registered company behind it that vulnerable to attack.
Is the Uniswap delisting a good thing?
For those that rely on the Uniswap UI to trade any of the tokens that have been removed, it straight up sucks.
However there are options to work around the removal of unsupported tokens.
I think the delisting does serve a bit of a wake up call to the importance of decentralized UI's. I think it will encourage communities to build more front end, and appreciate DEX's that much more.
Is Uniswap Decentralized?
Yes, the protocol is decentralized, the liquidity still exists for these tokens that are no longer supported. You are however unable to trade them through the Interface which is by nature not decentralized.
We must build more interfaces!
Ciao for now,
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