Uniswap token launch - UNI

in #hive-167922last month

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.


source: Uniswap

Check out the announcement for yourself:

UNI Allocation

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


My thoughts:

  • 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.

Cheers,

JK.

Posted Using LeoFinance Beta

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Dang. I hadn't seen that. That's huge. Liquidity mining on Uniswap. I was just reading how yield farmers were earning coins on decentralized exchanges such as BAL on Balancer. That's good news for LeoFinance as they launch their wLEO liquidity pool. 👍

Posted Using LeoFinance

It's only a few pools that can farm UNI so far. Still very bullish I think for ETH and makes for interesting timing for the WLEO launch.

Posted Using LeoFinance

I just jumped over there and saw that. Seems the snap shot was taken Sept 1st, so no 400 UNI for me. Lol. Still, good news. Thanks for sharing. 👍

Your in good company - @gerber is salty he missed out too.

Posted Using LeoFinance

Haha. I may have missed that one but I should have plenty of New BitShares (NBS) coming my way. Takes the edge off. 🤣

Posted Using LeoFinance

Woohoo, got my 402 UNI. Should be fun. I love uniswap and am too iffy on vague "governance tokens" to spend money on them, so now I got one to just let ride.

But something as big as uniswap should be able to maintain at least a half billion market cap, right? So probably a $200+ payoff to everyone.

Posted Using LeoFinance

Super volatile at the moment, was up to $3.20 a few mins ago, now $1.68

I swapped 300 straight away to ETH got nearly 2 ETH for it.

Very happy. :-)

Posted Using LeoFinance

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Yeahhh, I'm guessing thats a tad volatile. I should probably provide liquidity.

I tried, the tx kept failing.

Love it!

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It's breaking ETH - GAS prices are spiking.

Posted Using LeoFinance

Yea it wont go trough!

Didn't find any info on purpose of this token. Is it going to be distributed for liquidity providers? Is it going to give a share of incomes?
What's the point of having these but to speculation?

As with most tokens that appear, its for "governance". Can be farmed only in certain pools, holders can vote which pools to add.

The main purpose seems to me to be stopping people taking their funds to other platforms that offer tokens.

I guess I'll sell it as soon as I'm able to claim it (gas fees are through the roof)

Awesome, just found out :) Could you make a post about the advantages of holding UNI?

I'll do some research over the weekend. For now I sold out. 🤑

Really appreciate the tip.