- Uniswap launches its own governance token
- UNI tokens are on 22.681 addresses already
- UNI is currently trading at $3,28
Uniswap, an Ethereum-based exchange, issued its token UNI on Tuesday, September 26th, and decided to provide all its users with $1.200 in the new token. The protocol supplies every user with 400 UNI. The only condition is that the user has to have owned the ETH account before September 1, meaning all traders that had interacted with this platform prior to the mentioned date will get 400 UNI each.
UNI has existed a bit longer than two weeks, but so far its initial value of $3 has increased up to a new high of $3,66. If you do the math, the initial amount of $1.200 for 400 UNI is worth $1.464 today.
At the time the token was initially launched, UNI traded a bit over $1,70. If traders were not patient enough to hold it, but instead sold UNI, they lost a lot of money. Instead of $1.464 they received around $700. Today UNI’s value is double.
At the time of writing, UNI tokens are on 22.681 addresses.
What does Uniswap plan with UNI?
The exchange plans to assign one billion UNI tokens in the next four years completely certain of its long-time future perspective.
A big chunk, or approximately 60 percent of UNI is guaranteed for the ETH community. 21,25 percent is a portion intended for the Uniswap team, while its investors can count on 17,8 percent of all tokens.
How UNI is different?
Uniswap has been working for a long-time to create a governance token. The decentralized protocol, such as Uniswap is, gives some important benefits to its adopters. For example, one of the most important advantages is that this kind of protocol is managed by the public and provides stability to the project through acquired tokens.
Furthermore, the owners of the token can vote if a situation that has the potential to change the project’s trajectory appears. This ensure that the public or holders have the decision making power to set a desirable direction for the project.
An interesting fact is that some of the biggest exchanges listed UNI just a few hours after its launch.