Uniswap releases Governance Token, Giant Cryptocurrency Exchanges rush to list UNI

1. Uniswap releases Governance Token, Giant Cryptocurrency Exchanges rush to list UNI Uniswap's governance token UNI has a billion supply with 60% allocated to the community and traded for up to $4 each. DEX unicorn Uniswap has finally released its governance token – ​UNI sparking off a race among major cryptocurrency exchanges to be the first to list. The DEX beast announced the launch of UNI ahead of the Version 3 release of the exchange with a deluge of airdrop raining down users. UNI token has a billion supply with 60% allocated to the community. Out of the community’s allocation, 150,000,000 which represents a quarter of it has already been airdropped to the v1 and v2 users. Hayden Adams and the rest of the Uniswap team controls 21.51% of the total supply while

2. investors like a16z, Version One and others get 17.80% which has a 4-year vesting period. The last group in the UNI token allocation are the advisors. They get 6,899,000 UNI with a 4-year vesting period representing 0.069% of the total supply. As for the airdrop, Uniswap took a historical snapshot ending September 1 2020. So only those who have interacted with the protocol before this time are eligible to claim UNI tokens. Also, Liquidity Providers (LPs) get 4.92% of the supply pro-rata. Meaning, historical LPs share 49,166,400 UNI. As for governance, 43% of community allocation will be retained in the governance treasury. And the community will vote to distribute them for contributor grants, community initiatives, liquidity mining, and other programs. Additionally, Liquidity Miners can stake their assets on Uniswap to start earning governance token. This is starting from September 18 and runs till November 17, 2020. Uniswap is incentivizing LPs to pool their assets in ETH/USDT, ETH/USDC, ETH/DAI and ETH/WBTC pools. LPs will be mining a total of 5,000,000 UNI within this period. Build before releasing governance token, the Uniswap way While Uniswap has become the talk of the town, especially in its airdrop of UNI to protocol users and LPs, it has come a long way. Unlike what we see today in many of the DeFi food farming protocols springing up here and there in the name of “Fair Launch”, Uniswap took two years of an intense building before releasing its governance token. Just within two years of the DEX protocol evolving from v1 to v2, it has achieved phenomenal milestones. To mention some: ● facilitated over $20 billion in trade volume even surpassing Coinbase daily trade volume at some point ● attracted deposits and withdrawals from 250,000 unique addresses across 8,484 unique assets

3. ● distributed over $56 million in fees to 49,000 LPs who have deposited over $1 billion worth of crypto assets Undoubtedly, Uniswap has become one of the most copied DeFi protocol, where many of these emerging platforms fork its codebase to spin-off their own protocols. A good example is ​SushiSwap which set out and staged a vampire mining attack on the DEX beast. As at press time, UNI is trading around $2.56 with a $435,179,204 market cap and $741 million 24 hour trade volume. UNI launch is so hot that Binance, OKEx, Huobi Global and at least 15 other exchanges already listed it. Read More: https://cryptodose.co/uniswap-releases-governance-token-giant-crypt ocurrency-exchanges-rush-to-list-uni/