Not be confused by post-listing criticism of some alleged scams like the Sushiswap case, Binance issued the announcement of Uniswap's UNI token listing after just 90 minutes of the platform's governance token DeFi This appears.
Over the next four years, one billion UNI tokens will be distributed, with 15% made immediately available to long-term platform users. In total, 60% will go to the community, while the remaining 40% will go to the development team, investors and advisors. After four years, the token will settle at 2% annual inflation.
The official announcement said UNI will guarantee Uniswap community led and self-sustainable:
The introduction of UNI (ERC-20) serves the purpose of allowing community ownership, providing a vibrant, diverse and dedicated governance system. This will take the protocol into the future.
Liquid mining programs will be available from September 18 to November 9 with ETH / USDT, ETH / USDC, ETH / DAI, and ETH / WBTC pairs on the decentralized exchange. Five million UNI will be allocated to each pool at the rate equivalent to about 17 UNI / day.
While the project management is running, Uniswap funds cannot be "touched" until October 17. After 10 days, governance will reach a certain level - allowing token holders to vote on the allocation of UNI reserves against “strategic partnerships, governance initiatives, [and] bar mining pools. additional amount. "
The protocol fee conversion control can also be delayed by 180 days.
The Uniswap development team pledged that they would "continue not to participate in V2 protocol development, [and] audit" and "will not participate directly in governance for the foreseeable future".
Binance quickly listed the new token and said it will open for trading with pairs of UNI / BTC, UNI / BNB, UNI / BUSD and UNI / USDT on September 17 at 9 a.m. Vietnam time.
Deposit service was opened for UNI, however Binance issued a warning that:
UNI is a new token with a higher risk than usual and as such is likely to suffer high price volatility. Please make sure you do your own risk management, have done your own research on the fundamentals of UNI and fully understand the project before choosing to trade.