Uniswap Sneaks Into Top 25 Cryptos
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Sept. 18, 2020
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The Uniswap token has sneaked into the top 25 cryptos in terms of total capitalization. However, at 12:15 CET, the crypto is trading at around $5.16 and ranks 26 with a market cap of $877M, according to CoinMarketCap.

Decentralized cryptocurrency exchange Uniswap has recently announced the launch of its own protocol management token. 1 billion UNI tokens have been issued. They will be distributed over four years. 60% of the amount will be distributed to community members, 21.51% to team members and future employees, 17.8% to investors, and 0.069% to consultants. Uniswap has said through a publication:

"A perpetual inflation rate of 2% per year will start after 4 years , ensuring continued participation and contribution to Uniswap at the expense of passive UNI holders."

Around 75,000 users have expressed their desire to receive a package of 400 UNI tokens.

According to DeFi Pulse, the launch of UNI has led to a strong recovery in Uniswap's liquidity. Previously, a significant portion of Uniswap's liquidity provider assets were transferred to the competing SushiSwap platform, which at the time did not have its own token. Over the past 24 hours, the volume of assets in Uniswap's pools has increased by 81% to $1.37B, making it the largest DeFi protocol according to this indicator again.

On its first day after its launch, UNI was added to a dozen exchanges, including Binance, Coinbase Pro, OKEx and Huobi, and is available for trading in 40 pairs.

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