Hot off the press:
Uniswap have just announced the launch of their token - UNI on Twitter a few minutes ago. This is big news, and will have a significant impact on the crypto markets, and the DeFi landscape moving forwards.
Check out the announcement for yourself:
1 billion UNI have been minted at genesis and will become accessible over the course of 4 years. The initial four year allocation is as follows:
60.00% to Uniswap community members [600,000,000 UNI]
21.51% to team members and future employees with 4-year vesting [215,101,000 UNI]
17.80% to investors with 4-year vesting [178,000,000 UNI]
.069% to advisors with 4-year vesting [6,899,000 UNI]
A perpetual inflation rate of 2% per year will start after 4 years , ensuring continued participation and contribution to Uniswap at the expense of passive UNI holders.
Quotes sourced from the blog post
This seems to be a response to the "yield farming" craze, and the potential for other projects to "Vampire mine" to steal Uniswap's liquidity.
Focus is on community and the majority of tokens will be shared to "community members"
There were rumours that Uniswap would launch a token when they bring out V3 of the platform. This announcement would indicate they brought forward the token launch to protect their market share - perhaps.
Other projects have captured gains by offering more flexibility, and governance tokens. Uniswap had to catch up to stay relevant.
Can't wait to watch how this develops. One important note from the Blog for anyone that has ever provided liquidity to a pool on Uniswap:
400 UNI are claimable by each address that has ever called the Uniswap v1 or v2 contracts. This includes ~12,000 addresses that have only ever submitted failed transactions — love you guys.
Anyone that has ever used Uniswap will be able to claim 400 UNI.
Thanks for reading, stay tuned for more developments.
Posted Using LeoFinance Beta