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Uniswap Community Overwhelmingly Approves V3 Deployment on Binance Smart Chain

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After a month of heated debate within the Uniswap community, the “Deployment of Uniswap V3 on the BNB Chain” proposal, put forth by 0xPlasma Labs, has officially been given the green light.

In a landslide decision, the proposal received a resounding 20 million votes in favor, accounting for a whopping 80.28% of the vote. On the other hand, those opposed to the proposal could only muster 4.9 million votes, equating to a mere 19.72%.

The approval of this proposal marks a significant step forward for the Uniswap ecosystem, as the deployment of V3 on the Binance Smart Chain is expected to bring a host of new features and improvements.

The community’s support for this proposal is a testament to Their trust in 0xPlasma Labs and their abilities to drive the Uniswap platform forward.

 Deployment Uniswap v3 On The BNB Chain: Proposal

The Uniswap community is currently buzzing with excitement over deploying Uniswap V3 on the Binance Smart Chain (BNB Chain). The proposal, put forth by 0xPlasma Labs, highlights a number of important reasons why it should be deployed on the BNB Chain as soon as possible.

One of the main reasons for the deployment is BNB Chain’s “large and growing user base, providing a potential new market for Uniswap v3.” In addition, BNB Chain’s high transaction speeds and low fees make it a suitable platform for its decentralized exchange services.

Furthermore, by making its way to the Binance Smart Chain, Uniswap would be able to capitalize on the increasing interest in DeFi within the Binance ecosystem. Additionally, it offers features such as staking and cross-chain support that could significantly improve v3’s capabilities.

Binance’s reputation for backing and promoting high-quality projects is a major advantage for the network, as it could lead to valuable exposure for the decentralized exchange. Its global reach and strong brand may also aid in raising awareness and adoption of Uniswap v3 among both retail and institutional investors.

This proposal would also open up possibilities for integration with other products and services offered by Binance, such as “the Binance Smart Chain and Binance DEX,” as well as potential collaboration and partnership opportunities with other projects within the Binance ecosystem.

The BNB Smart Chain’s strict emphasis on security and compliance provides a secure and reliable environment for Uniswap v3 to operate in. Its robust ecosystem of dApps and DeFi projects also presents opportunities for collaboration and co-development. 

Moreover, BNB Smart Chain’s support for on-chain governance allows it to adopt a more decentralized and community-driven development model. In addition, 0xPlasma Labs also proposed using Celer Bridge for the governance cross-chain messaging, adding more security and trust to the process.

However, this proposal could bring in an additional $1B of TVL, huge trading volume, and earned fees for liquidity providers, 1-2 million new users, and more adoption for Uniswap NFT Platform, as well as a huge respect and appreciation from DeFi developers.

Related Reading |  Dormant Ethereum (ETH) ICO Participant Suddenly Stakes $80M In October 

Uniswap And MoonPay Partnership enables Crypto Purchase Using Debit/Credit Cards

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With the help of Moonpay, a fintech business, customers of Uniswap’s web app may now purchase cryptocurrencies using bank transfers, debit cards, and credit cards. The bank transfer option is being made available to customers in the majority of US states, Brazil, the UK, and the Single Euro Payments Area, or SEPA.

According to the Dec. 20 statement from Uniswap, customers will soon be able to quickly exchange cash for cryptocurrencies on the Ethereum mainnet, Polygon, Optimism, and Artibrum.

Because of its built-in user safety, self-custodial wallets, permissionless, immutable protocols, and transparent public ledger, Uniswap claims that decentralised exchanges (DEX) are a significantly safer alternative than centralised exchanges (CEX).

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Depending on the user’s location, Uniswap will initially support Dai DAI, Ether, USD Coin, Tether, Wrapped Bitcoin (wBTC), and Wrapped Ether (wETH).

The company acknowledged that despite the dangers involved, customers still prefer CEXs and that the onboarding process for decentralised finance (DeFi) has been a significant barrier to adoption. With “no spread costs on USDC, lowest processing fees in the market, and rapid access,” the exchange anticipates that its most recent deployment will enhance the onboarding process.

Uniswap’s Uprise Amidst Other System Faliures

The news from Uniswap comes at a time when a number of centralized cryptocurrency systems have failed, the most recent of which was FTX.

On November 22, it was revealed that the decentralized exchange has faced criticism from several community members for revising its privacy policy to cover the gathering and storage of user data, which many felt went against the fundamental principles of cryptocurrency.

The exchange will gather data on user interactions with its service providers, information about user devices such browser information and operating systems, and publicly available blockchain data, according to the privacy policy, which was amended on November 17.

In other news, users can now trade nonfungible tokens, or NFTs, using the native protocol of decentralized exchange (DEX) Uniswap, according to a recent post from that day. The function, according to the decentralized exchange, would initially offer NFT collections for sale on websites such as OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, X2Y2, Foundation, NFT20, and NFTX.

Uniswap Kicks Off NFT Aggregator Launch With A Bang

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Uniswap new NFT aggregator, which allows traders to swap NFT’s across major marketplaces, has launched with a bang. According to Santiment, the DEX’s token UNI surge to over 6% , and roughly 8,000 active addresses & 3,180 new UNI addresses created for the first time in 19 months.

Uniswap’s new aggregator aims to deliver better prices by combining multiple marketplace listings into one interface across OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, Foundation and NFT20 marketplaces.

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Uniswap Kicks Off NFT Aggregator Launch With A Bang 3

Apart from that, the tool would save up to 15% on gas costs compared to other NFT aggregators with the help of its open-sourced Universal Router contract, Uniswap claimed.

The launch also comes with a announcement of a $5 million airdrop as a show of gratitude for longtime Genie users, Uniswap’s earlier NFT marketplace aggregator.

According to the blog post, Genie users will receive an airdrop of $300 for completing more than one transactions or $1,000 for holding a Genie: Genesis NFT prior to Uniswap’s April snapshot. For the following 12 months, eligible users can claim their airdrop in USDC.

As for its new users, the platform will be intoducing a gas rebates promotion that begins from1st Dec and ends on Dec 14, 2022, claimable upto January 16, 2023 through the Uniswap app for 12 months.

The gas rebate is capped at 0.01 ETH.

Ever since the unprecendented FTX contagion occured, investors have turn their attention to decentralized exchanges.

Uniswap for one, have recorded a high number of user traffic for Ethereum [ETH] trading. The exchange is now ranked second behind Binance in the first spot.

Uniswap Overthew Coinbase In Ethereum Trading

Just the other day, Uniswap’s Ethereum deals totalled $1 billion, doubled that of the second-largest centralised exchange Coinbase’s recent figure.

The spike in user activity on the DEX has been attributed to a rise in Uniswap V3’s MEV bot activity over the past week.

MEV bot is an automated program that aims to profit by front-running pending transactions and existing DeFi users.

“This particular MEV bot has sent just under $19 billion to DEXes since November 4, making it the third-biggest source of funds sent to DEXes among all smart contracts,” Chainalysis said.

The data implies that the recent increase in DeFi activity originated from “existing DeFi users trading on the volatility in the market,” and that MEV bot “tried to front-run them,” according to the firm, rather than new customers looking for security in self-custody.

FTX: Telegram Set Sights On A Decentralized Roadmap

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Since the FTX blowout, many centralized industry players have scrambled to find solutions that would restore customers’ trust badly shaken by the events. One such is the leading cloud-based instant messaging app Telegram.

CEO Pavel Durov via telegram channel announced that they would soon embark on building “non-custodial wallets” and “decentralized exchanges,” allowing millions of users safely trade their crypto.

The blockchain industry was built on the promise of decentralization, but ended up being concentrated in the hands of a few who began to abuse their power. As a result, a lot of people lost their money when FTX, one of the largest exchanges, went bankrupt.

According to Durov, the solution for blockchain-based projects is to return to its decentralized roots. Users of cryptocurrencies should move to self-hosted wallets and transactions that are not trusted by any single third party.

Durov highlighted its brand new decentralized project called Fragment built on The Open Network, or TON which he claimed took only 5 weeks and 5 people to put together.

Telegram’s Fragment grants people complete ownership of respective usernames. Durov claimed that the platform’s launch was a success with $50 million worth of usernames sold there in less than a month.

In the coming weeks, Fragment will expand beyond usernames, he added.

The next stage for Telegram is to create a collection of decentralized tools that will enable millions of individuals to securely trade and store cryptocurrencies. These tools will include non-custodial wallets and decentralized exchanges.

“This way we can fix the wrongs caused by the excessive centralization, which let down hundreds of thousands of cryptocurrency users,” the CEO stated.

The collapse of the now-bankrupt cryptocurrency exchange FTX has shone the spotlight on many centralized platforms. The SBF-led exchange was found to be using customer-deposited crypto assets to mitigate its own business losses.

FTX Fiasco Has Driven Users To Opt For Decentralized Alternatives

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FTX: Telegram Set Sights On A Decentralized Roadmap 5

The revelation of the unethical practices has triggered panic among investors who are already losing trust in these centralized trading firms.

Following the FTX debacle, exchange outflows tapped all-time highs of 106,000 BTC each month, and the lack of confidence in centralized exchanges [CEXs] has driven investors into self-custody and decentralized finance [DeFi] platforms.

On November 11, the day FTX filed for bankruptcy, Uniswap, one of the biggest decentralized exchanges in the ecosystem, recorded a considerable increase in trading volume.

Ethereum: ConsenSys’s New Privacy Policy Causes Huge Uproar

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ConsenSys, an Ethereum-based blockchain firm and owner of the popular wallet MetaMask, has recently updated its privacy policy and Crypto Twitter is furious.

Under the new guidelines, MetaMask’s RPC [Remote Procedure Call] node Infura would collect the user’s IP address as well as wallet address while sending a transaction. MetaMask [by default] uses Infura to get information on and off of blockchains.

Consensys further said. “However, if you’re using your own Ethereum node or a third-party RPC provider with MetaMask, then neither Infura nor MetaMask will collect your IP address or Ethereum wallet address.”

Many in the community have urged users to uninstall MetaMask and migrate to a new wallet.

Just recently, popular decentralized exchange [DEX] Uniswap updated its privacy policy, attracting ire from the decentralized buffs. The concerns were similarly related to collecting and storing user data and how it goes against crypto’s core ethos of user privacy and anonymity. 

ConsenSys’s latest privacy policy comes in light of the FTX crisis, an event that brought attention to the need for transparency.

Transparency has now become the buzzword in the industry ever since the collapse of the crypto exchange FTX earlier this month. The once dominant platform was accused of misusing customer assets in risky trading.

Soon after the incident, the crypto entities rushed to win back clients’ faith by promising to be “transparent,” notably by introducing Proof of Reserves in the case of centralized exchanges.

Ethereum Software Firm’s Latest Privacy Policy Has Shined the Spotlight On Transparency

The world’s biggest crypto exchange Binance led the way and accordingly Kraken, Bitmex, Coinfloor, Gate.io HBTC, OKX, KuCoin and a host of other exchanges followed suit.

Ironically, Binance which championed Proof Of Reserves [PoR] in the wake of FTX’s bankruptcy was slammed for an undisclosed $2.7 billion USDT transfer that was initiated less than 24 hours after the audit publication, TronWeekly reported the other day.

A Reddit post by a user called OneThatNoseOne accused the trading platform of not revealing the wallet in their proof-of-reserves article.

The anonymous user urged Binance to take action in offering transparency at a time when users’ confidence in cryptocurrencies is at an all-time low so that people like him don’t have to dig through mountains of data for something they could have easily provided.

Uniswap Announces $165 Million Fundraising Led by Polychain Capital and Others

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Today, Uniswap announced a $165 million funding round headed by Polychain Capital. The cryptocurrency bear market may have frightened off individual investors, but it hasn’t scared off venture capitalists interested in funding DeFi initiatives.

A16z Crypto, Paradigm, SV Angel, and Variant are all participating in the Series B fundraising round with Polychain Capital.

The creator of Uniswap, Hayden Adams, wrote in a post announcing the fundraising, “I’m so happy to report that we’ve received $165 million in Series B funding.”

“When I built the Uniswap Protocol in 2018, it was an experiment to see if I could create something that fully embodied the values of Ethereum: transparent, secure, and accessible. Since then, it has grown and evolved in ways I never imagined.”

Hayden Adams

Uniswap’s funding round was estimated to raise between $100-200 million

It was reported last month that the round, which is still in progress, may raise between $100 million and $200 million, with Polychain and a Singapore-based sovereign investment fund involved. The most recent round values Uniswap at $1.6 billion.

A decentralized exchange, or DEX, is a program that enables crypto trading between users without the involvement of a middleman. An Ethereum-based DEX called Uniswap lets users trade ERC-20 tokens.

These exchanges are a popular choice for traders searching for a more private way to trade due to their peer-to-peer structure, but they have also grown in popularity as a target for hackers. A cybercriminal was successful in stealing $8 million in July from its users via a phishing scheme.

Adams cited the founding of the Uniswap Foundation as evidence of the ongoing support from the community for Uniswap, stating it best represents what a decentralized community can accomplish that a single firm alone could not.

Adams said that since its inception, the platform had expanded, changed, and supported $1.2 trillion in trading volume. For instance, the governance community has decided to establish the Uniswap Foundation, which would support the Protocol’s decentralized growth and provide grants totaling at least $60 million to community projects over the next years.

He believes that over the years, the platform has developed to be critical public infrastructure for exchanging digital value.

Three Super Rewarding Tokens to Buy in 2022 – Dogecoin, Carlossy Caterpillar, and Uniswap

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The advent of blockchain technology has broadened the world’s perspective on financial services and basic transactions. With the recent development within the cryptocurrency space, there is a great indication that the worth of the coin market will surge in the coming years. 

Dogecoin (DOGE) is the most popular meme coin on the cryptocurrency market, whereas Uniswap (UNI) is a decentralized crypto exchange that has grown to become one of the cryptocurrency market’s most successful projects. 

On the other hand, Carlossy Caterpillar (CARL) has captured the attention of investors and the meme community with its innovative blend of hype, education, and a variety of use cases. In this article, you will learn all you need to know about Carlossy Caterpillar (CARL) and why it is a great option for long-term crypto investment.

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Three Super Rewarding Tokens to Buy in 2022 – Dogecoin, Carlossy Caterpillar, and Uniswap 9

Dogecoin (DOGE)

DOGE, the original meme token, was released in 2013 and is now the most popular meme coin in the cryptocurrency market. Dogecoin is one of the most well-known meme coins on the cryptocurrency token market, and it has the full support of billionaire Elon Musk. Because of their rapid development and refinement over time, the cryptocurrency market has begun to recognize meme coins as the legitimate investment that they are.

Because of Elon Musk’s supportive words, the price of this cryptocurrency has climbed dramatically over the last two years. Tesla also takes Dogecoin as a form of online payment for some of its products. Because there is only so many DOGE, there will definitely be an expansion in the future.

Dogecoin (DOGE) is distinguished from other meme coins by its distinct and active community, which trades with it and uses it as tipping money for social media content. The DOGE Token had relatively little value when it was created because the initial market landscape was still blossoming into the money-making environment that it is today, and the DOGE token is currently one of the top ten largest cryptocurrencies by market cap.

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Three Super Rewarding Tokens to Buy in 2022 – Dogecoin, Carlossy Caterpillar, and Uniswap 10

Uniswap (UNI)

The renowned decentralized cryptocurrency exchange Uniswap (UNI) has launched a new feature that allows users to trade directly from their wallets. The new “Wallet-to-Wallet” trading function will enable users to connect their wallets to the Uniswap platform and trade directly with one another. Users will no longer be required to deposit funds into a centralized exchange, which might be risky.

Because of its simple and effective design, Uniswap has grown in popularity. Users can trade directly with one another on the site, eliminating the need for a middleman. This reduces fees and improves trading efficiency. The addition of Wallet-to-Wallet trading will make Uniswap even more appealing to consumers seeking a simple and convenient way to trade cryptocurrencies.

Uniswap (UNI) tokens were released in September 2020 and quickly gained value, becoming one of the top 20 cryptocurrencies in terms of market capitalization. Uniswap (UNI) tokens, on the other hand, have since lost value in the Bear market of 2022. Nonetheless, we believe that Uniswap (UNI) tokens have high long-term potential and may be a solid investment at current pricing.

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Three Super Rewarding Tokens to Buy in 2022 – Dogecoin, Carlossy Caterpillar, and Uniswap 11

Source: Unsplash

Carlossy Caterpillar (CARL)

The beginning of this meme coin can be traced back to a conflict between Marks & Spencer and a German firm called Aldi over the theft of a famous dessert dubbed “Colin the caterpillar.” The quarrel went viral and became a meme, giving rise to Carlossy Caterpillar (CARL).

Nonetheless, Carlossy Caterpillar (CARL) has announced its intention to be more than a meme coin, which many have labelled as being supported solely by the hype of influencers and having no genuine worth. Carlossy Caterpillar (CARL) is based on the Binance Smart Chain (BNB) and offers fund security, compatibility with Ethereum (ETH) dApps, and minimal trading fees.

Carlossy Caterpillar (CARL) is the product of an invention aimed at establishing an experimental community for a decentralized system while also contributing to the development of the blockchain system. Furthermore, the meme coin – CARL will be traded, staked, and purchased on numerous exchanges, offering it greater utility than many other meme cryptocurrencies.

Carlossy Caterpillar (CARL) is still a few days away from launching presales, but it has already begun by offering incentives to buyers. Users who purchase CARL with BNB on Binance Smart Chain (BSC) will earn a 20% rise in their CARL currency balance. The same is true for Tether USDT purchases on the TRON network.

Please find more information here.

Look Out As Big Eyes Coin is Set to Join Chainlink and Uniswap In Taking Over The Crypto Market

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It is well known within the crypto industry how important it is that a project has the full backing and support of its community. Many of these crypto projects require the community to make reasonable input and contributions, from voting and governance to adoption and purchase. Many projects are almost exclusively pushed by community activity. This means that crypto projects always try to make innovative additions that appeal to the community they serve. This, in turn, cements the community’s loyalty and the project’s market dominance and longevity. 

Big Eyes Coin (BIG), Chainlink (LINK), and Uniswap (UNI) are three massive and potentially profitable blockchains fully committed to community growth and support. They have ensured a steady community following by implementing attractive and innovative updates and adaptations to serve the community better and foster adoption.

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Look Out As Big Eyes Coin is Set to Join Chainlink and Uniswap In Taking Over The Crypto Market 15

What is Big Eyes Coin (BIG)?

The Big Eyes Coin (BIG) project is an ecosystem that prioritizes community above all else. It is a fully community-driven DeFi protocol that has improved wealth creation, scalability, and asset security. These features propel Big Eyes Coin to a position where it could be one of the leading DeFi protocols shortly. Big Eyes Coin protects users’ interests and purchase decisions by harnessing leading DeFi solutions to build a self-propelled Blockchain that improves financial growth using DeFi and NFT technology to cater to fully and grant access to more content and services within the ecosystem. 

The Impact of the Big Eyes Coin Community

Big Eyes Coin (BIG) has implemented various activities and ideas to foster community growth. These ideas push DeFi and Blockchain availability and access while harnessing this technology to improve the community and bring lasting change. The most notable feature is the Big Eyes Coin’s involvement with the Save the Oceans Campaign, a charity dedicated to protecting aquatic life and preserving fragile marine ecosystems. This campaign would significantly make the waters safe for both human and marine life and ensure food security for humans and animals. It would also do a lot to undo the damage caused by unchecked human activity. 

Apart from this charity project, the Big Eyes ecosystem is developing a platform called the Big Eyes Swap. This platform would facilitate ease of transactions, exchange, and trading within the ecosystem. It would also feature the Big Eyes NFT; a collection of creative, beautiful, and valuable virtual assets that would funnel more wealth into the ecosystem and potentially create more profits for users who purchase and hodl or flip these assets.

Governance within the Big Eyes Coin (BIG) Ecosystem

As a community-driven protocol, Big Eyes Coin (BIG) utilizes the proof of stake consensus mechanism to validate transactions and implement changes. This means users can stake BIG tokens to earn voting privileges. Users can also delegate their privileges to other users. This makes the ecosystem run more smoothly, and it greatly improves scalability.

Big Eyes Coin Tokenomics and Distribution

The native token of the Big Eyes protocol, the Big Eyes Coin (BIG), is the utility and governance token within the ecosystem. With a max supply of 200 billion coins, It serves many purposes like paying trading fees, staking to earn governance privileges and staking rewards, liquidity provision, and access to the NFT collection.

With the coin set to launch pretty soon, the coin distribution has been arranged to go in this way:

  • 90% of the coin would be available on launch day. 
  • 70% would go to the public presale event, while 20% would go to the exchange (Big Eyes Swap)
  • Of the remaining 10%, 5% would be delegated towards marketing initiatives, media campaigns, and programs. The rest of the coins would be donated to the charity for saving the oceans and protecting wildlife. Trading with Big Eyes Coin, users are promised zero fees, zero tax, and zero hassles. 

Roadmap

The Big Eyes Coin roadmap is divided into 4 phases; Crouch, Leap, Run, and Catwalk. These 4 phases embody the mascot of the project, a wide-eyed cat. As a cat is devoted to grace and to groom, the Big Eyes Coin (BIG) ecosystem is committed to constant improvement within the ecosystem, as well as community growth and development. 

Phase I: Crouch

  • Token audit
  • Presale website launch
  • Presale event
  • Media campaign

Phase II: Leap

  • Uniswap DEX launch
  • Blockchain bridge
  • Charity event
  • Influencer campaign
  • NFT sneak peek
  • Big Eyes swap launch
  • Merch distribution

Phase III: Run

  • NFT launch
  • NFT purchase event
  • Charity event
  • Influencer campaign

Phase IV: Catwalk

  • Community development
  • More cross-chain bridges
  • Charity event
  • NFT evolution 

More information on the Big Eyes Coin (BIG) project is available on their website. 

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Look Out As Big Eyes Coin is Set to Join Chainlink and Uniswap In Taking Over The Crypto Market 16

Chainlink’s (LINK) Key Features

A major issue plaguing the crypto and Blockchain industry was how to source accurate and reliable data from off-chain sources to use within the Blockchain easily. Other methods proved to be time-consuming and unreliable. This led Sergei Nazarov and Steve Ellis, founders of smartcontract.com, to launch Chainlink (LINK) in 2017. Chainlink (LINK) is a decentralized Blockchain network that incentivizes data providers (Oracles) to source truthful, reliable, accurate, and timely data from off-chain sources to a blockchain. 

Oracles are essentially software programs that act as a middleman or intermediary between smart contracts and the real world. Chainlink (LINK) is an ecosystem of oracles that provides useful data from outside the Blockchain to the Blockchain and vice versa to facilitate the access of smart contracts to real-world data. This data is essential for the execution of many smart contract commands. 

How does Chainlink (LINK) work?

Chainlink (LINK) uses node operators (or stakers) to source information and regulate the oracle network. When a transaction is sent for validation, it is transcribed into a requesting contract which the smart contracts register as an event. The requesting contract is then sent to node operators, who are incentivized to be trustworthy by staking rewards and by the fact that they have their assets staked within the ecosystem. 

These node operators then pass the requesting contract through three stages:

  1.  Reputation contract: this is a smart contract that validates the credibility of oracles by checking their activity log and history. Credible oracles are selected, and the transaction goes to the next phase.
  2. Order matching contract: this contract sends requests to trusted nodes that have been vetted by the reputation contract and sorts through their bids. 
  3. Aggregating contract: this contract collates and validates data from single and multiple sources. It also settles disputes in data differences by simply choosing the data set provided by more nodes. Then an average is taken, which is adopted as the correct data. 

With this simple process, Chainlink makes real-world data available on the Blockchain for smart contract execution. 

Tokenomics

The native token of the Chainlink (LINK) ecosystem is the LINK coin. It is an Ethereum-based token that uses the proof-of-stake consensus mechanism. Within the ecosystem, the coin provides utility and governance. LINK is capped at a max supply of 1 billion tokens. 

The LINK token is used to fund the project’s growth primarily. It is a deflationary token with a circulating supply of just over 464 million tokens. 

Uniswap (UNI) – The Popular Cross-Chain Platform

As more and more Ethereum-based projects kept launching, there emerged a need for the facilitation of safe, timely, cost-effective, and secure transactions, exchange, and storage of these digital assets. This led to the creation of the Uniswap (UNI) exchange. Uniswap (UNI) is an Ethereum-based decentralized exchange platform that embodies true DeFi solutions to drive the safety and ease of crypto transactions. It was founded in 2018 by Hayden Adams and is a pioneer DEX platform running on the Ethereum Blockchain. 

Uniswap (UNI) ensures the easy trading and exchange of Ethereum-based tokens and tokens built on other chains with the aid of smart contracts. It enables cross-chain communication with no additional costs to users. 

The Uniswap DAO

Uniswap (UNI) is a solid community-driven project. This means that the protocol’s developers have the community as the top priority. Any major change to the Uniswap framework is made to serve the community better. 

The Uniswap (UNI) Decentralized Autonomous Organisation (DAO) retains governance for the Uniswap ecosystem. It also serves to vote on changes, make suggestions, and submit proposals to the developers as to where the project should go. Governance of the Uniswap ecosystem is achieved through staking UNI tokens. 

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Look Out As Big Eyes Coin is Set to Join Chainlink and Uniswap In Taking Over The Crypto Market 17

The Uniswap (UNI) Token

The Uniswap token (UNI) is the native token of the Uniswap ecosystem. It primarily serves a governance purpose and is used by the Uniswap DAO to effect change within the ecosystem. The coin was initially airdropped to users who had previously used Uniswap to make token exchanges. Many users sold their coins shortly after, while some staked theirs for voting rights. 

Uniswap has a strong liquidity pool powered by the strength and security of the Ethereum Blockchain. It is a project that has market dominance, as well as longevity. 

By observing Uniswap (UNI), Big Eyes Coin (BIG), and Chainlink (LINK), it is clear to see that crypto projects are nothing without a community. These projects, especially the Big Eyes Coin, are particularly devoted to community development and strength and have the potential to create wealth and value within their community. You can also find out more information about the community and program here.

Here’s How Coinbase CEO Reacted On Uniswap’s Matching Its daily Trade Volume

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Coinbase CEO Brian Armstrong responded to a report by Clara Medalie showing that decentralized exchange Uniswap’s daily trade volume has risen up to match the levels of Coinbase.

As per the statistics provided by Kaiko’s research director, Uniswap’s daily trading volume surged by 22% since the beginning of the year and, in its values, is nearing the levels of one of the largest centralized crypto exchanges, Coinbase.

The data also showed the market share volume of decentralized protocol compared to Coinbase has increased from 27% to nearly 50%.

Armstrong tweeted that the report took only Coinbase’s centralized exchange into consideration and overlooked the fact that it also operates through different channels like wallets and DEXes.

“In other words, for the Uniswap portion of the graph, a bunch of those orders is coming through Coinbase! So the story is more complex”, the tweet read.

Acknowledging Uniswap’s tremendous growth, the chief exec reiterated that Coinbase loves DEXes and will continue integrating with them.

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Here's How Coinbase CEO Reacted On Uniswap's Matching Its daily Trade Volume 19

Experts are of the view that the major surge has been due to Ethereum’s network transaction fees hitting the lowest since 2020.

In addition to that, the strong growth can also be attributed to DEXs providing liquidity for stablecoin swaps following the Terra blowup.

In the following thread, Kaiko expert Medalie also dived into Ethereum DEX market share, and found out Uniswap pretty much dominates the space about 80-90% of total daily volume.

However, the researcher observed DEX platforms so far occupy only a small share of the volumes of large centralized exchanges.

Coinbase & Co. Continue To Rule The Roost

For instance, the total share of the daily trading volume of all DEXes on the Ethereum blockchain comprises only 8% of the total share of CEXs like Binance, FTX, and Coinbase.

Meanwhile, the top crypto exchange, with over $2 billion in daily trading volume has recently decided to “temporarily shut down” its U.S. affiliate marketing program, according to Business Insider.

The development comes at a time when many web3 firms are exploring ways to cut costs amid a price slump in crypto assets.

The exchange reportedly plans on relaunching the program sometime in 2023 but did not provide any specific dates.

Uniswap Hackers Steal 4295 ETH Via Phishing Attack

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DeFi protocol Uniswap fell victim to an elaborate phishing campaign that targeted liquidity providers [LPs] resulting in a loss of 4295 ETH which comes close to $4.7 million.

Although the exact amount of stolen funds is not yet confirmed by the DEX, there are multiple reports by various experts detailing the incident.

Metamask security expert Henry Denley was the first to raise the red flag. According to him, about 73,399 addresses have received a malicious token under the false impression of a UNI airdrop.

The token if clicked directs them to a domain “/uniswaplp.com“, which imitates the real Uniswap branding. The website hosted by bad actors allows curious users to swap their new tokens for Uniswap [UNI], worth $5.34 each at the time of writing.

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Uniswap Hackers Steal 4295 ETH Via Phishing Attack 22

The interface would instead send the users’ address and browser client info to the attackers’ command center, which would also attempt to drain cryptocurrency from their wallets.

“There is evidence that this campaign is purely targeting native coin [ETH, BNB] and Uniswap LP positions”, the tweet read.

Another crypto tracking platform tweeted that the attackers siphoned the stolen assets to Tornado Cash and put the funds at 7,500 ETH, nearly $8 million.

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Uniswap Hackers Steal 4295 ETH Via Phishing Attack 23

Uniswap Hack – A phishing Attack On LPs Not A Exploit On The V3 Protocol

Binance CEO Changpeng “CZ” Zhao too tweeted the incident calling it a potential exploit of Uniswap V3 on the ETH blockchain. CZ later clarified that the exploit was actually a phishing attack and that the protocol is safe.

“The attack looks like a phishing attack. Both teams responded quickly. All good. Sorry for the alarm. Learn to protect yourself from phishing. Don’t click on links.”

However, there are rumors among the crypto community that the losses might be much higher than what is being reported.

Meanwhile, Uniswap’s price reacted by a sharp decline just moments after CZ’s initial tweet, falling by almost 14% in the 24-hour index.

UNI has since posted a marginal recovery to trade at $5.61 at press time. Still, the token is down by 86% from its previous peak of $42.