Uniswap Announces Governance Token UNI, Currently trading at Over 1000%

Leading decentralized exchange Uniswap has announced its governance token, the UNI and it is currently trading on major exchanges at over 1000% increase. The introduction of the token according to the DEX leader will serve the ‘purpose of enabling shared community ownership and a vibrant, diverse, and dedicated governance system, which will actively guide the protocol towards the future’. UNI is an ERC-20 token, the most popular token standard in the cryptocurrency industry.

According to Uniswap, holders of the UNI token are responsible for ensuring that governance decisions are made in compliance with applicable laws and regulations. The team will continue to have no involvement in V2 of the protocol development, auditing and other matters. Uniswap said the team will also not participate directly in governance for the foreseeable future, though they may delegate votes to protocol delegates. Holders of UNI will have immediate ownership of Uniswap governance, UNI community treasury, the protocol fee switch, eth ENS, Uniswap Default List and SOCKs liquidity tokens.

UNI Airdrop

All users that have ever carried out a transaction on Uniswap are entitled to a particular number of UNI tokens. 15% of the total 1 billion UNI which is 150,000,000 UNI can be claimed by what it called historical liquidity providers, users and SOCK redeemers/holders based on a snapshot ending September, 2020.

This translates to a 4.92% pro-rata to all historical liquidity providers which are 49,192 (49,166,400 UNI) and a 10.06% split across historical user addresses which total 251,534 user addresses with each address receiving 400 UNI, totaling 100,613,600 UNI.

0.02% of the 150,000,000 UNI will be redeemable by 220 SOCKS holders/redeemers (220,000 UNI; this gives every address that has either redeemed SOCKS token for physical socks or owned at least one SOCKS token at the snapshot date.

UNI is claimable via uniswap.

A total of 1 billion UNI was minted at the genesis and according to the Uniswap team; it will become accessible over a four year period. The uniswap community is allocated 60% of the total sum which is equivalent to 600,000,000 UNI. The team members and future employees are hold 21.51% of the total number of UNI with a vesting period of four years. This translates into 215,1010,000 UNI. Investors are entitled to a 17.80% (178,000,000) UNI. Advisors will hold a 0.69% of the 1 billion UNI which is 6,899,000 UNI.

UNI is already listed on Binance, FTX, Coinbase Pro, KuCoin, Houbi, OKEx etc and it is currently trading at over 1000% as at the date and time of publication. On Binance, it is trading against three major trading pairs, BND, USDT and BUSD.