Altcoin News

Unfazed by the controversy over its SushiSwap listing, Binance has already announced support for Uniswap’s new token around an hour or so after it was announced.

The decentralized finance (DeFi) platform’s governance protocol token UNI went live on Ethereum (ETH) around 90 minutes ago.

Over the next four years, one billion UNI tokens will incrementally be released, with 15% being immediately released to past users of the platform. In total, 60% will go to community members, while the remaining 40% going to team members, investors, and advisors with a vesting period of up to 4 years.

The official announcement said UNI would ensure Uniswap is community-led and self-sustainable:

“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.”

Binance was quick to jump on the announcement, stating it will open trading in UNI/BTC, UNI/BNB, UNI/BUSD and UNI/USDT trading pairs on September 17 at 3AM UTC. Deposits are already open, however it cautioned:

“UNI is a new token that poses higher than normal risk, and as such will likely be subject to high price volatility. Please ensure that you exercise sufficient risk management, that you have done your own research in regards to UNI’s fundamentals and fully understand the project before opting to trade.”

More to come …

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