UNI is a governance token for the Uniswap protocol (the “Uniswap Protocol”), a suite of smart contracts that together create an automated market maker on the Ethereum network. The Uniswap Protocol was created by Hayden Adams and was launched in 2018.
As an automated market maker, the Uniswap Protocol is designed to allow the exchange of tokens on the Ethereum network. Automated market makers are a type of decentralized exchange. Decentralized exchanges can be contrasted with centralized exchanges (such as a stock exchange or a platform like Bitbuy), which generally use a central order book where buyers and sellers create orders organized by price level that are progressively filled as demand shifts. An automated market maker instead functions by replacing the buy and sell orders in an order book market with a “liquidity pool” of two assets, both valued relative to each other. As one asset is traded for the other, the relative prices of the two assets shift, and a new market rate for both is determined. As a result, a buyer or seller trades directly with the liquidity pool, rather than with specific orders placed by other participants on the exchange.
The liquidity pools comprising the Uniswap Protocol are smart contracts in which users of the Uniswap Protocol contribute ERC-20 Tokens. These users, commonly known as “liquidity providers,” lock two assets into each liquidity pool. For example, Uniswap’s AAVE/ETH liquidity pool consists of equal values of AAVE and ether deposits from liquidity providers. Users who trade against assets in the pool pay a fee that is then distributed to all liquidity providers proportionally based on their contribution to the pool.
By September 2024, there will be 1 Billion UNI tokens in circulation. After the 1 Billion tokens are issued a perpetual inflation rate of 2% annually will take effect.
Uniswap collects fees on each swap or exchange. The fee collected goes into the Treasury. Governance of Uniswap, allows you votes on how to spend the treasury.
Token distribution currently consists of the following: 60% to Uniswap community members, i.e. users, 21.51% to team members, 17.8% to investors and 0.69% to advisors. The latter three distributions will occur according to a four-year vesting schedule.
UNI is a governance token. Generally speaking, governance tokens are tokens that allow their holders to propose or vote on changes to a crypto asset network or protocol. UNI specifically allows its holders to help govern the Uniswap Protocol by voting on development proposals. Additionally, users who hold at least 1% of the total UNI in circulation are able to make development proposals themselves.
Eager to buy UniSwap (UNI) but not sure how? No worries! Bitbuy is the simplest and most secure platform to buy Uniswap (UNI). Bitbuy always ensures the lowest associated fees and highest security when buying, selling or trading cryptocurrency.
Investors can easily invest in Uniswap (UNI) by creating an account with Bitbuy, adding funds to their account directly through e-Transfer or bank wire and buying Uniswap (UNI) directly through the Bitbuy platform. Experience problems or need questions asked along the way? Do not fear, Bitbuy is always here. Our customer success will ensure your investment journey is smooth throughout.
Buying UNI in Canada as well as other digital currencies is simple and secure with Bitbuy. Here is how it works:
Bitbuy is one of the best and most secure places to buy Uniswap (UNI) in Canada. Here is why:
Every transaction you make on Bitbuy is encrypted using SSL (Secure Socket Layer) technology with two-factor authentication solutions implemented throughout. Bitbuy operates with a 99% cold storage reserve for all digital currencies in custody and executes daily encrypted and distributed backups for disaster recovery. Here at Bitbuy, it is crucial users know that their digital assets are is safe with us.
Bitbuy offers some of the lowest buying and selling fees in Canada. You can check out our trading fees and processing times before you buy Uniswap (UNI).
Buying cryptocurrency directly from individuals is slow and risky. Cryptocurrency exchange platforms like Bitbuy make the process faster and far more efficient.
We pride ourselves in our exceptional customer support which sets us apart from other digital asset marketplaces. Simply submit a request under Bitbuy Support to be paired with one of our experts. We believe that exceptional customer support is an essential part of simplifying cryptocurrency for everyone.
Interac e Transfer is the most popular way to pay online in Canada. Canadians want to buy Uniswap (UNI) with Interac, but banks do not make it easy. Bitbuy exists to simplify the process when you want to buy UNI in Canada with Interac. You can use your bank account directly to fund your Bitbuy account, which you then use to buy and sell cryptocurrencies in Canada.
Looking for a place to store your UNI? Bitbuy is the perfect place to start. Bitbuy has a built-in wallet in each user’s account that you can use to store your UNI safe and securely.
Website (instructions for the mobile app below)
When you log into your Bitbuy account you will be automatically directed to the ‘Accounts’ section of your account. Click 'Express Trade' located at the top of the page if you are already logged in. To facilitate the trade click the 'Sell' button which will appear in red.
Click the drop-down and search UNI to begin the sale .
Enter the amount of UNI that you wish to sell. The dollar value of your sale will be displayed below under ‘Transaction summary'. When you are ready, click the 'Sell' button to complete the transaction.
Mobile App
Sign into your Bitbuy account and you will be automatically directed to the 'Accounts' section. If you are already logged in, click on 'Accounts' in the bottom right corner of the navigation bar.
Locate UNI and click on the 'Sell' button.
Enter the amount of UNI you wish to sell. The value of your sell will be displayed at the bottom of the page. When you are ready to continue, click the 'Place Sell Order' button to complete your transaction!
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