Uniswap’s governance token, UNI, which was launched Wednesday night, by one of the most valuable decentralized finance (DeFi) projects can now be traded with INR on CoinSwitch Kuber.
Uniswap is a decentralised exchange in the form of two smart contracts hosted on the Ethereum blockchain, as well as a public, open source front-end client. It’s a 100% on-chain market maker allowing the swapping of ERC20 tokens, as well as ETH to an ERC20, and vice-versa.
It also allows you to contribute to liquidity pools for any ERC20 token, and therefore gain commissions in the form of exchange fees for doing so.
UNI launched with a long term allocation plan, rewards for early supporters and new governance protocol. Since then the price has seen multi-fold increase and it continues to baffle analysts.
Many Ethereum wallet that only ever interacted once with Uniswap before September 1, 2020 received atleast 400 UNI tokens.
Major centralized exchanges, including Binance and Coinbase Pro, listed UNI within just a few hours since its launch. OKEx even went as far as offering a full set of trading tools for hedging UNI including spot trading, margin, swap trading and coin-marginated perpetual swap. Coinbase is among the project’s investors.
In India, WazirX listed UNI paired with USDT.
The only two exchanges where users can buy and sell UNI tokens with INR are Coinswitch Kuber and Zebpay.
Bitbns’s DeFi platform BNS.finance was quick to create UNI/BNSD pool and opened farming of BNSD tokens on the platform for users.
The price of UNI tokens reached $6 earlier today, marking an ATH.