Uniswap (UNI) Live Price and charts Today

What is $UNI?

UNI, is the governance token of the Uniswap Protocol. 

Uniswap is particularly well positioned for community-led growth, development, and self-sustainability. The introduction of UNI (ERC-20) serves this purpose, enabling shared community ownership and a vibrant, diverse, and dedicated governance system, which will actively guide the protocol towards the future.

What is the utility of $UNI?

As the governance token, UNI are responsible for ensuring that governance decisions are made in compliance with applicable laws and regulations. To help facilitate this, the fee switch has been initialized to a contract UNI holders can use to vote on tokens for which they will collect fees. The community is encouraged to consult knowledgeable legal and regulatory professionals before implementing any specific proposal.

In the meantime, UNI holders will have immediate ownership of:

• Uniswap governance
• UNI community treasury
• The protocol fee switch
• uniswap.eth ENS name
• Uniswap Default List (tokens.uniswap.eth)
• SOCKS liquidity tokens

Initial governance parameters are as follows:

• 1% of UNI total supply (delegated) to submit a governance proposal
• 4% of UNI supply required to vote 'yes' to reach quorum
• 7 day voting period
• 2 day timelock delay on execution

What is the token allocation of $UNI?

1 billion UNI have been minted at genesis and will become accessible over the course of 4 years. The initial four year allocation is as follows:

• 60.00% to Uniswap community members 600,000,000 UNI
• 21.266% to team members and future employees with 4-year vesting 212,660,000 UNI
• 18.044% to investors with 4-year vesting 180,440,000 UNI
• 0.69% to advisors with 4-year vesting 6,900,000 UNI

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.

A Retrospective

Uniswap owes its success to the thousands of community members that have joined its journey over the past two years. These early community members will naturally serve as responsible stewards of Uniswap.

15% of UNI 150,000,000 UNI can immediately be claimed by historical liquidity providers, users, and SOCKS redeemers/holders based on a snapshot ending September 1, 2020, at 12:00 am UTC.

4.91664% pro-rata to all 49,192 historical LPs 49,166,400 UNI

~49 million UNI are claimable by historical liquidity providers. The formula accounts for LP liquidity on a per-second basis since the deployment of Uniswap v1, ensuring that rewards are weighted towards LPs that provided liquidity when total liquidity was low.

10.06136% split evenly across all 251,534 historical user addresses 100,613,600 UNI

400 UNI are claimable by each address that has ever called the Uniswap v1 or v2 contracts. This includes ~12,000 addresses that have only ever submitted failed transactions — love you guys.

0.022% to 220 SOCKS holders/redeemers 220,000 UNI

1000 UNI are claimable by each address that has either redeemed SOCKS tokens for physical socks or owned at least one SOCKS token at the snapshot date.

View the formula source code here

What is the vesting plan of $UNI?

With 15% of tokens already available to be claimed by historical users and liquidity providers, the governance treasury will retain 43% [430,000,000 UNI] of UNI supply to distribute on an ongoing basis through contributor grants, community initiatives, liquidity mining, and other programs.

UNI will vest to the governance treasury on a continuous basis according to the following schedule. Governance will have access to vested UNI starting October 18 2020 12:00am UTC.

Team, investor, and advisor UNI allocations will have tokens locked up on an identical schedule.

Liquidity Mining Plan of UNI

An initial liquidity mining program went live September 18 2020 12:00am UTC. The initial program will run until November 17 2020 12:00am UTC and target the following four pools on Uniswap v2:

• ETH/USDT
• ETH/USDC
• ETH/DAI
• ETH/WBTC

5,000,000 UNI was allocated per pool to LPs proportional to liquidity, which roughly translates to:

83,333 UNI per pool per day

13.5 UNI per pool per block (14s blocktime)

These UNI are not subject to vesting or lock up.

After 30 days, governance reached its vesting cliff and Uniswap governance controls all UNI vested to the Uniswap treasury. At this point, governance can vote to allocate UNI towards grants, strategic partnerships, governance initiatives, additional liquidity mining pools, and other programs.