- Recent developments around Uniswap have sent the token soaring by as much as 12% over the last week.
- The development that set the Uniswap community alight with excitement was the native integration of Uniswap into CoinMarketCap.
- Another highly celebrated development was the launch of intelligent automation for Uniswap v2.
- At the time of writing, UNI has been trading at $17.62 over the last 7 days.
Uniswap has put the icing on the cake with a host of innovations that have sparked a major buzz in the community. Much of the buzz is centred around the native integration of Uniswap v2 into CoinMarketCap, and the launch of the highly anticipated intelligent automation for Uniswap. The community had cause to celebrate following the appointment of the first-ever Chief Operating Officer for Uniswap Labs.
Recent Developments
In late June, CoinMarketCap stunned the cryptocurrency community with the announcement that token swaps were made possible on the platform. Uniswap’s community was particularly excited by the revelation that Uniswap had been natively integrated.
The move makes it possible for users to seamlessly connect to an Ethereum wallet and trade a token through Uniswap. Supported wallets include Coinbase Wallet, Fortmatic, Portis, MetaMask, and WalletConnect.
The decision by CoinMarketCap to choose Uniswap over PanCakeSwap will have a huge effect on the number of users on Uniswap, and the decision has had a positive knock on effect on the price of the UNI token.
Another positive development for the UniSwap protocol was the addition of intelligent automation. The update sees the integration of artificial intelligence in decentralized finance and gives users the power to make “DeFi Agents.”
These agents can be tweaked to withdraw funds automatically from UniSwap v2 upon meeting certain conditions.
Uniswap v3 and Events
The third iteration of Uniswap, Uniswap v3, has been deployed to the Ethereum mainnet. Launched in May, the project offers concentrated liquidity and improved capital efficiency for liquidity providers.
Uniswap v3 is a major improvement from its predecessor, offering improved execution for traders, and Uniswap was pleased to announce that developers could start building immediately.
The community is anticipating the fourth and final wave of the UNI Grants Program. A total of $336,800 will be awarded to 14 projects whose mission is to improve the Uniswap ecosystem.
On the Flipside
- Uniswap fees have a reputation for being high, with traders spending a fortune on gas fees and slippage margins.
- Liquidity pool fees are pegged at 0.3%, while gas fees are costing traders an arm and a leg because of Ethereum congestion issues.
Community
For the first time in its history, Uniswap has appointed a Chief Operating Officer in the form of Mary-Catherine Lader.
Before joining Uniswap, Lader honed her skills at BlackRock (NYSE:BLK), and her new role at Uniswap will be to consolidate and expand its market share in decentralized exchanges.
As part of the drive to increase decentralization and community governance, a vote was put forward to reduce the UNI proposal threshold to 2.5 million, which resulted in 91m voting in favour.
UNI narrowly misses out on the top 10 cryptocurrencies, coming in at 11th place with a market capitalization of $10.14 billion. In light of the improved features, UNI has made a gain of 8.22% over the last 7 days, trading at the time of writing at $17.62.
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
[contact-form-7] You can always unsubscribe with just 1 click.
