Uniswap announced the issuance of an initial total of 1 billion governance tokens UNI and started liquidity mining at the same time

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Uniswap announced the issuance of an initial total of 1 billion governance tokens UNI and started liquidity mining at the same time

巴比特

2020-09-17 02:36

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Uniswap finally announced the issuance of coins, and the liquidity mining boom was renewed.

Editor's Note: This article comes fromBabbitt Information (ID: bitcoin8btc)Editor's Note: This article comes from

Babbitt Information (ID: bitcoin8btc)
Babbitt Information (ID: bitcoin8btc)
, Author: Uniswap, Compiler: kyle, released with authorization.
UNI contract address: 0x1f9840a85d5aF5bf1D1762F925BDADdC4201F984

60% of the founding supply of UNI has been allocated to Uniswap community members, of which a quarter (15% of the total supply) has been allocated to past users

Initially, UNI will also be available through four liquidity mining pools: UNI holders can vote to add more mining pools after the initial 30-day governance grace period

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community-led growth

Since its inception, the Uniswap Protocol (“Uniswap”) has been a trustless and highly decentralized financial infrastructure.

Inspired by the vision of Ethereum, we have long committed to the ideals of accessibility, security, and immutability, all essential for a future where anyone in the world can use financial services without fear of discrimination or counterparty risk Part.

Today, Uniswap’s daily transaction volume rivals that of centralized businesses, and its success to date — achieved since deployment and without the intervention of a core development team — shows that there is a high demand for permissionless financial services.

In less than two years since its launch, the Uniswap protocol has achieved:

Over $20 billion in transaction volume, supporting 2,484 encrypted asset transactions, over 250,000 unique addresses

Access over $1 billion in liquidity from over 49,000 liquidity providers (LPs), earning $56 million in fees in the process

Through an independently developed and thriving platform, Uniswap has proven a product-market fit for a highly decentralized financial infrastructure, and today Uniswap is now particularly well-positioned for community-led growth, development, and self-sustainability. The introduction of UNI (ERC-20 tokens) can serve this goal, enabling shared community ownership and a vibrant, diverse, dedicated governance system that will positively guide the protocol into the future.

Uniswap has always adhered to the principles of neutrality and trust minimization: it is crucial to constrain governance to where it is strictly necessary. With this in mind, the Uniswap governance framework is limited to those that contribute to the development and use of the protocol and the growth of the broader Uniswap ecosystem.

To this end, the UNI token officially upgrades Uniswap into a public and self-sustaining infrastructure, while continuing to carefully maintain its indestructible autonomous qualities.

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UNI Token Distribution
The founding quantity of UNI is 1 billion, which will be released within 4 years. This initial four-year distribution rule is as follows:
60.00% to Uniswap community members, or 600 million UNI

17.8% will be allocated to investors and will be released in 4 years, or 178 million UNI

0.069% allocated to advisors, released in 4 years, or 6,899,000 UNI

After four years, UNI tokens will be issued with a permanent inflation rate of 2% per year to ensure Uniswap’s continued participation and contribution as a passive UNI holder.

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Review the development history of Uniswap

Uniswap owes its success to the thousands of community members who have been part of its journey over the past two years. These early community members will naturally become the heads of Uniswap.

Historical liquidity providers, users, and SOCKS redeemers/holders can immediately claim 15% of UNI, which is 150 million, according to the snapshot that ended at 12:00 UTC on September 1, 2020.

4.92% allocated to all 49,192 historical LPs, or 49,166,400 UNI

Historical liquidity providers will receive 49 million UNI. Since the deployment of Uniswap v1, the formula calculates the liquidity of LPs on a per-second basis, ensuring weighted returns to LPs providing liquidity when the total liquidity is low.

10.06% is equally distributed to all 251,534 historical user addresses, or 100,613,600 UNI.

Each address of a previous Uniswap v1 or v2 contract can receive 400 UNI. This includes about 12,000 addresses that submitted contracts but failed transactions.1000 UNI for each address that has redeemed SOCKS tokens in exchange for physical socks or owns at least one SOCKS token as of the snapshot date]

[View here

formula source code

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UNI will be continuously released to the Governing Treasury according to the schedule below. Starting at 12:00 am UTC on October 18, 2020, the released UNI will be available to the Treasury.

Liquidity mining

Team, investor and advisor UNI allocations will lock tokens on the same schedule.

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

5,000,secondary title

Liquidity mining
The initial liquidity mining plan will start at 12:00 am UTC on September 18, 2020. The initial mining program will run until 12:00 AM UTC on November 17, 2020, and will target the following four liquidity mining pools on Uniswap v2:

000 UNI will be allocated to each pool according to the liquidity ratio, which can be roughly converted into:

54 UNI per pool per block

There will be no lock-up period for UNI from these liquidity mining activities.

After 30 days, governance will reach its release barrier, and Uniswap governance will take control of all UNI vested in the Uniswap treasury. At this point, governance can vote on how to allocate these UNI for donations, strategic partnerships, governance initiatives, increasing liquidity mining pools, and other initiatives.

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governance assets

A community-managed treasury opens up a world of possibilities. We expect to see experiments of all kinds, including ecosystem grants and public goods funding, both of which can foster further growth in the Uniswap ecosystem. Uniswap Provides the Standard for Automated Liquidity: Now is the time to set the benchmark for responsible but fundamental long-term consistent on-chain governance systems.

Uniswap governance will be live from day one, although control of the governance treasury will be delayed until October 17, 2020 at 12:00AM UTC. Control over the Uniswap fee switch requires a 180-day timelock delay.

These grace periods provide sufficient time for the Uniswap community to familiarize themselves with the governance system, bring in a variety of high-quality protocol representatives, and begin discussions and exchanges around potential governance proposals.

It is the responsibility of UNI holders to ensure that governance decisions are made in accordance with applicable laws and regulations. To help with this, a fee switch has been initialized as a contract that UNI holders can use to vote on the tokens for which fees will be charged. The community is encouraged to consult knowledgeable legal and regulatory professionals before implementing any specific proposal.
The Uniswap team will continue to not participate in v2 protocol development, audits and other matters. Likewise, team members will not be directly involved in governance for the foreseeable future, and while they can delegate voting rights to protocol representatives, there will be no attempt to influence their voting decisions.
Meanwhile, UNI holders will immediately have:
eth ENS
UNI Community Vault
SOCKS Liquidity Token

Agreement Fee Switching