Uniswap's UNI token - one of the hottest DeFi tokens - has landed on Coinhako!
🚀 Here are the features available for users with the launch of UNI on Coinhako:
1. Trade UNI directly with Singapore Dollars (SGD) 🇸🇬
The NEW UNI/SGD trading pair prices UNI against the Singapore Dollar (SGD), and our users will be able to buy & sell UNI when they fund their accounts with SGD through direct bank transfers.
2. Trade UNI directly with Vietnamese Dong Trading (VNDT) 🇻🇳
The NEW UNI/VNDT trading pair on Coinhako prices UNI against the Vietnamese Dong (VND), and our Vietnam users will be able to buy & sell UNI when they fund their accounts with VND through direct bank transfers.
3. Trade UNI directly with US Dollars (USD) 🇺🇸
The NEW UNI/USD trading pair prices UNI against the United States Dollar (USD), and our users will be able to buy & sell UNI when they fund their accounts with USD with a Stablecoin deposit.
4. UNI Swaps (Crypto-to-crypto trading)
Coinhako users will also be able to trade UNI with other cryptocurrencies that are supported in their countries, with our ‘Swap’ function.
5. UNI wallet for all
With the UNI wallet feature, Coinhako users can securely send (withdraw), receive (deposit) and store UNI
What is Uniswap?
Known for being the largest decentralised exchange (DEX) in the world, Uniswap is a pioneer DEX that runs on the Ethereum blockchain.
Founded by Hayden Adams, who worked under the guidance of Ethereum founder Vitalik Buterin, Uniswap is essentially an automated liquidity protocol where no centralised party is needed to execute trades. This makes Uniswap a peer-to-peer marketplace with no intermediaries involved.
Its governance token, UNI, was launched on 17 September 2020 — but unlike most other tokens, Uniswap did not hold an Initial Coin Offering (ICO) for UNI.
Instead, Uniswap rewarded users who had used the Uniswap protocol before 1st September with 400 UNI tokens each, via an airdrop giveaway.
Within a mere 24 hours of trading, UNI landed itself among the top 45 cryptocurrencies. It currently ranks 31st among all cryptocurrencies with a market cap of $642,780,319. The token’s prices skyrocketed to its All-Time-High on Sep 18 2020 at $8.40 USD , just one day after the token was launched.
What does the UNI token do?
The UNI token primarily serves as a governance token, which enables users to influence and vote on Uniswap development decisions. UNI holders may also fund grants, partnerships, liquidity mining pools as well as vote for other proposals. The end goal is to achieve a completely decentralised governance structure where the original UNI swap team will no longer be directly involved.
UNI users can also earn rewards by being liquidity providers on the Uniswap protocol.
UNI is trading at $3.20 USD at the time of writing.
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All opinions expressed here by Coinhako.com are intended for educational purposes, taken from the research and experiences of the writers of the platform, and should not be taken as investment or financial advice.