Uniswap protocol token (UNI) launches, lists first on Binance

  • Uniswap has launched its protocol token (UNI)
  • One billion UNI will be available at the genesis
  • Binance exchange quickly listed Uniswap token

Uniswap, the largest decentralized exchange (DEX) has finally launched its native protocol token. The Uniswap protocol token (UNI) is believed to mark the complete start of a community-led era on the exchange, and it will ultimately serve as users voting right. Meanwhile, the Uniswap token has already been listed on the Binance exchange.

Binance lists Uniswap protocol token

Binance may have become the first digital currency exchange to support the Uniswap protocol token. In less than three hours of UNI’s announcement, the exchange tweeted that users can start depositing the Uniswap token on their platform ahead of trading, which should begin later today at 3:00 AM (UTC). Currently, the only supported trading pairs for the Uniswap token on Binance include UNI/BTC, UNI/BNB, UNI/BUSD, and UNI/USDT. 

Many people were concerned again on how Binance could suddenly announce support for the hours-old Uniswap protocol token, regardless of the fuss it recently faced for quickly listing SUSHI token. However, Binance didn’t fail to put out a warning which reads:

UNI is a new token that poses higher than normal risk, and as such will likely be subject to high price volatility. Please ensure that you exercise sufficient risk management, that you have done your own research in regards to UNI’s fundamentals and fully understand the project before opting to trade.

About Uniswap token

Launched today, the Uniswap protocol token will ensure community-led growth, development, and self-sustainability on the decentralized exchange. Per the announcement, there are now one billion UNI tokens available at genesis, all of which will become completely accessible over the next four years. Uniswap noted that 60 percent of the one billion available tokens will be allocated to the community members alone.

The remaining 40 percent will be allocated to the protocol team members, future workers, advisors, and investors with 4-year vesting. After the next four years, a perpetual annual inflation rate of two percent will start to ensure that participation and contribution to the decentralized exchange will continue.

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Ibiam Wayas

Written by Ibiam Wayas

Ibiam is an optimistic crypto journalist. Five years from now, he sees himself establishing a unique crypto media outlet that will breach the gap between the crypto world and the general public. He loves to associate with like-minded individuals and collaborate with them on similar projects. He spends much of his time honing his writing and critical thinking skills.