Uniswap, the largest decentralized exchange (DEX) in terms of trading volume, is apparently gearing up to become a more prominent player in the non-fungible token sector. According to the company’s head of NFT products Scott Lewis, Uniswap is “in talks” with 7 NFT lending protocols to solve for liquidity fragmentation in the space. Key takeaways:…
The advantage of true decentralization comes from the cost-effectiveness, the lack of bureaucracy, and the retention of governance in the hands of the people. Many decentralized finance (DeFi) options and applications have seen market highs due to this advantage, especially in the area of decentralized exchanges (DEX) and the play-to-earn (P2E) gaming industry.
The DeFi (decentralized finance) space has taken the crypto world by storm, and significant crypto analysts are touting an even greater market boom. In 2021, the total market value of DeFi assets surged to a whopping 100 billion USD.
DeFi offers to help curb the intricate network of the dysfunctional banking industry. A single body governed every facet of finance, including transactions, loans, and stock prices which led to widespread corruption and unethical business practices.
Trading platform Robinhood announced the listing of a new cryptocurrency on Thursday. Users of the popular trading app can now trade Uniswap’s native governance and utility UNI token. The Robinhood team shared the news via Twitter.
Last week, the Celo Foundation put forward a proposal to deploy the decentralized exchange Uniswap v3 on the Celo blockchain. According to the proposal posted on Uniswap’s Governance website, the Celo Foundation and the Celo Climate Collective had been looking to deploy the decentralized protocol on the Celo network to increase capital efficiency and create green asset liquidity pools backed by tokenized carbon credits.
The blockchain sector represents a modern and more transparent alternative to the traditional banking infrastructure, which is one of the reasons why established financial institutions have been taking advantage of their dominant position to artificially limit their crypto competition. The latest victim of such practices was Uniswap’s founder Hayden Adams, who got his JPMorgan chase accounts closed with no prior notice or explanation.
After a virtually unanimous vote, the Uniswap community has agreed on deploying the v3 of the Unsiwap trading protocol on Polygon, one of the leading Layer 2 networks. The price of the platform’s native MATIC token has skyrocketed to a new all-time high of $2.70 following the announcement.
The cryptocurrency market has been thoroughly shaken up by Friday’s news of China banning crypto services like trading and new token issuance. In the 48 hours following the regulatory crackdown, the total market cap had dropped by $150 billion, pushing the value of Bitcoin to $41,000 and Ethereum to $2,750. Since then, bullish momentum has allowed most tokens to recover some of their lost value. Over the course of the last 24 hours, 81 out of the top 100 digital currencies have managed to post positive results.