$UNI is the native governance token of the decentralized exchange (DEX) Uniswap, one of the largest and most influential platforms in the world of decentralized finance (DeFi). Launched in September 2020, UNI provided the community with the opportunity to directly participate in the development of the protocol.
Uniswap, built on the Ethereum blockchain, allows users to exchange hundreds of different ERC-20 standard tokens directly, without the need to trust their assets to a centralized intermediary. The platform functions as an automated market maker (AMM), using liquidity pools to determine prices and provide instant trades.
The main function of the token $UNI is to grant its holders voting rights. With UNI, users can propose and vote on key changes to the Uniswap protocol. This includes decisions on the distribution of fees collected by the platform, adding new features, system updates, and the use of the community treasury. Essentially, UNI transfers control over the future of Uniswap into the hands of its users, implementing the principles of decentralized governance.
A historic event was the launch of the token, which was accompanied by one of the most generous 'airdrops' in cryptocurrency history. Anyone who interacted with the Uniswap protocol before September 1, 2020, became eligible for 400 UNI tokens. This move not only rewarded early supporters but also instantly created a large and active community of token holders.
Today $UNI is traded on all major cryptocurrency exchanges. Its value is closely tied to the success, trading volume, and ongoing development of the Uniswap platform. As DeFi continues to gain momentum, UNI remains a key asset for those looking not only to invest in cryptocurrency but also to participate in the governance of one of the fundamental infrastructural parts of the new financial system.
