The Uniswap project launches its digital currency UNI … details here
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Answer The Uniswap project launches its digital currency UNI … details here
announced Today, Uniswap, a cryptocurrency exchange based on the Ethereum blockchain, replaces its digital currency, UNI.
The digital currency UNI will allow to promote the growth of the platform and will also provide users with standard rewards with this currency.
The new digital currency, UNI, will allow users to contribute to the platform as well as the ability to vote on how the protocol will operate.
Governance-related cryptocurrencies have become a speculative investment of late, as investors flock to decentralized finance and to its projects and platforms such as yearn.finance, which distributes YFI coins, which is currently valued at $36,000.
It can be said that the Uniswap coin is a direct response to the competition taking place around it, most notably the SushiSwap project, the latter which is a version of the Uniswap protocol with the addition of a digital currency to reward and motivate users to participate.
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At the moment, according to the site “DeFi Pulse” Uniswap and SushiSwap have the second and third largest value locked into their protocols, respectively, and it’s a clear measure of how much they are being used.
Uniswap certainly hopes UNI can give it staying power.
The decentralized exchange protocol plans to distribute a total of 1 billion UNI over the next four years.
60% will go to Uniswap community members, 21.5% will go to Uniswap employees, and the remaining 18.5% will go to investors and advisors.
UNISWAP is now making available 150 million to people who used the platform earlier before September 1, 2020.
After 40% of the cryptocurrency is distributed in the first year, this percentage will decrease by 10% each year until all cryptocurrency allocated for distribution is completed.
The announcement also stated for the UNI currency:
Uniswap is now well positioned for community-led growth, development and self-sustainability.
The introduction of the UNI currency serves this purpose, enabling shared community ownership and a vibrant, diverse and customized system of governance, which will actively guide the protocol into the future.
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