Uniswap   token: ico review, security check & audits

check date
Sun Jun 13 2021
Source code
-
Ethereum address
0x1f9840a85d5af5bf1d1762f925bdaddc4201f984
Market Cap(24h)
$311,332,868
-0.98 %
Status
COMPLETED
ICO Rating
10
image/svg+xml

Overview

UNI is the governance token issued by the decentralized open-source exchange Uniswap. The founder of Uniswap is Hayden Adams, an Ethereum developer, who launched it in 2018. The platform enables easy swapping of ERC20 tokens to make the cryptocurrency industry available for non-tech-savvy users. The automatic market maker (AMM) employs smart contracts creating a liquidity pool for Ethereum-based tokens while the algorithm is implemented without using orderbooks. Users should only have an ERC20-compatible wallet and an Ethereum address to swap tokens. Any tokens can be listed on the platform.

The company didn’t arrange an ICO or a token sale. The distribution of tokens was scheduled for gradual release within 4 years until September 2024. The increased popularity of the exchange is connected with the boost of yield farming activity and the release of Uniswap V2 that occurred in May 2020.

The members of the community received a generous airdrop when the token was issued. Each person who used the service at least once received 400 UNI. It was done to transfer governance entirely to the community. According to the Uniswap protocol, 67% of tokens are given to the community. The remaining 33% was reserved for the investors, advisors, and the team.

UNI is used to participate in voting on important issues that affect the development of the platform. Also, the tokens are used for funding partnerships, grants, etc.

Users can earn UNI staking tokens in the liquidity pools. The standard trading fee is 0.3% that is divided between the stakers of a particular liquidity pool.

Uniswap token price chart

Security checks of UNI token