Uniswap is introducing UNI token

by in Cryptocurrency News

UNI token

Uniswap unveiled its UNI token on September 16.

The platform is going to issue 1 billion tokens over four years. 60% of this amount will be designated to community members, 21.51% - team members and future workers, 17.80% of it is going to be assigned to investors with a four-year transition schedule, and 0.069% - to project consultants.

As it was mentioned in the blog of the exchange: "A constant inflation rate of 2% per year is going to begin in 4 years, which will ensure continued participation in Uniswap at the expense of passive UNI holders."

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The exchange also mentioned that the liquidity mining program is planned to go live on September 18.

The most impressive fact is that because of this fresh released token's 15%, which is 150,000,000 UNI, can instantly be claimed by liquidity providers, users, and SOCKS holders, the cost of Ethereum Gas has grown to 1000gwei.