• Jinia Shawdagor

Uniswap Token is now Listed on fox.exchange



At fox.exchange we are proud to introduce UNI (Uniswap token) on our exchange.

This new partnership with the Uniswap protocol will allow fox.exchange users to have access to Uniswap’s governance structure and change the future of decentralized finance (DeFi).


With the growing popularity of yield farming platforms and liquidity mining, the Uniswap protocol has realized a corresponding surge in interest from crypto traders. Now, fox.exchange users can instantly trade the newly released UNI token and see additional returns on their liquidity pool tokens.


What is Uniswap?


Uniswap is an open-source decentralized protocol designed for swapping ERC20 tokens.


Inspired by Ethereum’s vision, the protocol which is a brainchild of Hayden Adams is a decentralized exchange that offers liquidity for traders looking to swap ERC20 tokens.


While a majority of the exchanges in the crypto world are centralized, they are easy targets for hackers. Decentralized exchanges feature better security however, they often lack the liquidity required for fast and easy exchange of tokens.


Uniswap offers a solution in that it allows the token traders to swap tokens without relying on liquidity created by market makers or buyers and sellers on the exchange. As a protocol built on the Ethereum blockchain, Uniswap does not take fees from trades as is the rule with most exchanges.


Instead, the protocol uses a simple math equation that determines the price based on demand and supply. The protocol uses liquidity pools to determine the price of tokens in a trade. The incentive is provided to users who provide liquidity as they get to earn the trading fees. What’s more, anyone can create a liquidity pool or exchange any pair of ERC-20 tokens.


How does the Uniswap token operate?


The UNI (Uniswap token) was recently introduced to the Uniswap protocol as a governance token to users who provide liquidity on the exchange.


UNI is an ERC-20 token with 1 billion minted units set to be accessible in 4 years. Out of the 1 billion UNI tokens, 60% is set to be distributed to community members, 21% will go to team members, and future employees, 18% will be given to investors and the remaining <1% will go to advisors.


Also, UNI token holders have the collective ownership of the Uniswap governance system, the UNI community treasury as well the power to decide on the protocol's fee switch.


Past traders and liquidity providers on Uniswap can still claim their UNI tokens even as the government treasury retains 43% of the token supply to distribute on an ongoing basis.


Is Uniswap safe?


Uniswap is considered a safe decentralized exchange since it does not require funds to be held on the exchange. Furthermore, the platform’s smart contracts are audited by ConsenSys which is a leading blockchain software engineering company with a focus on enabling the development of DeFi projects. However, since Uniswap allows any token to be traded on its platform, users are advised to conduct due diligence before investing in any token.


Website: https://uniswap.org/

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