Uniswap is a decentralized protocol for automated liquidity provision on Ethereum
Through Uniswap Mining through CoinList, users are able to earn the new UNI governance token by committing funds to Uniswap liquidity pools.
Deployment and Rebalancing. CoinList helps you as a liquidity pool provider (a "Participant") manage the rebalancing and deployment of funds into Uniswap liquidity pools.
Mining Reward Earnings. Participants on CoinList receive their pro-rata share of accumulated exchange fees and UNI tokens at the end of the Uniswap Mining program.
Simple Funding. On CoinList, Participants will be able to fund their Uniswap Mining participation with USD, USDT, BTC, wBTC, ETH, USDC, and/or DAI.
CoinList is where early adopters access new protocols and projects. By accessing Uniswap through CoinList, you can rely on our operational excellence that has powered more than one billion dollars of crypto payments, trading, and token sales since inception.
- Secure infrastructure. CoinList only works with best in class custodians like Bitgo, Gemini and Anchorage to secure your funds.
- DeFi leader. CoinList has been a leader in DeFi through our simple and easy to use wBTC minting service. Since launch, CoinList has minted or burned more than $350M wBTC/BTC.
- Trusted Network Participant. CoinList is an active network participant across new protocols. CoinList is one the largest validators on the Celo Network and our users have staked more than $50M ETH to the NuCypher Worklock.
Example: Contribution of $1,000,000
Estimated ETH and UNI Rewards for Eligible Uniswap Liquidity Pools
| Pool | Allocation | Contribution Amount | Est. Pool Share | Est. Daily ETH Rewards (USD) | Est. Daily Uni Rewards (USD) | Est. Total ETH Rewards (USD) | Est. Total UNI Rewards (USD) | Value at End (USD) | Yield | APY |
|---|---|---|---|---|---|---|---|---|---|---|
| ETH/USDC | 25% | $250,000 | 0.07% | $93.17 | $284.62 | $4,291.23 | $13,109.47 | $267,400.70 | 6.96% | 54.05% |
| ETH/USDT | 25% | $250,000 | 0.06% | $133.04 | $267.64 | $6,127.69 | $12,327.65 | $268,455.34 | 7.38% | 57.33% |
| ETH/DAI | 25% | $250,000 | 0.08% | $74.88 | $343.12 | $3,448.86 | $15,804.12 | $269,252.97 | 7.70% | 59.81% |
| ETH/WBTC | 25% | $250,000 | 0.06% | $34.02 | $255.08 | $1,566.85 | $11,749.01 | $263,315.86 | 5.33% | 41.36% |
| Total | 100% | $1,000,000 | $335.10 | $1,150.46 | $15,434.63 | $52,990.25 | $1,068,424.88 | 6.84% | 53.14% |
Data provided above is only an estimate. Actual results will vary. Liquidity Pool data collected via Uniswap smart contracts 9/23/2020. Volume per pool estimated at ETH/USDC (135k ETH), ETH/USDT (205k ETH), ETH/DAI (90K ETH) , ETH/wBTC (55k ETH) based on previous 30 day average volume per pool. Assumes ETH price of $344.85 and UNI price of $5.15 and fixed pool sizes, ETH price, and UNI price.
Uniswap is a protocol for exchanging ERC-20 tokens on Ethereum. Uniswap is one of the most-used crypto trading platforms with more than $20B traded since inception. Uniswap’s protocol design eliminates centralized intermediaries, allowing for fast, efficient trading.
When you are trading using Uniswap, there is no orderbook, no centralized party and no central facilitator of trade. Rather than relying on order books to facilitate trade, Uniswap is an automated liquidity protocol. Smart contracts define standard ways to make liquidity pools and corresponding markets that are compatible with each other. Each pool is defined by a smart contract that includes a few functions to enable swapping tokens, adding liquidity and more.
In Uniswap's design, users contribute liquidity to each pool at a ratio of 50% of each asset by value (e.g. 50% ETH & 50% WBTC). When the Uniswap pool is out of 50%/50% balance, other traders have an incentive to rebalance the pool, but in doing so, the traders pay a flat 0.3% fee per trade. This 0.3% fee is passed to the users who have supplied liquidity to the pool.
Putting this all together, the end result is an extremely simple, easy, and efficient protocol to trade Ethereum based assets without centralized counterparties. Anyone can trade on Uniswap, add new pairs, or contribute liquidity to the protocol to earn liquidity rewards.
Uniswap is one of the most used applications on Ethereum with:
Uniswap V2 launched in May 2020 and has already facilitated over 8.6 million trades, accounting for 1/3 of transactions across all decentralized exchanges.
With the launch of UNI, Uniswap will be fully governed by the community of network participants. 60% of the UNI supply is being distributed to users and liquidity providers – the Uniswap community will maintain the future of the project.
Unlike many of the novel DeFi exchange protocols, Uniswap has a long track record of stability and performance. Uniswap V1 was originally conceived and launched in 2018, and since its inception hundreds of thousands of users have traded billions of dollars of assets on Uniswap. Then, prior to launching Uniswap V2 (the current version) to the Ethereum mainnet, the protocol underwent a four-month long security audit administered by six dapp.org engineers. Their findings included three bugs and seven suggested improvements. None of the bugs were critical and all issues discovered in the audit have been addressed in the git repository uniswap-v2-core at commit 8160750.
Liquidity mining is a term used in decentralized finance (DeFi) applications where users supply liquidity to decentralized financial applications and receive rewards for doing so. In the context of Uniswap, liquidity mining refers to users (Liquidity Providers, or LPs) supplying both assets to a given trading pair market so that the protocol can execute trades.
Whenever liquidity is deposited into a pool, special tokens known as liquidity tokens are minted to the Liquidity Provider’s address, in proportion to how much liquidity they contributed to the pool. These tokens are a representation of a Liquidity Provider’s contribution to a pool. Whenever a trade occurs, the 0.3% fee is levied and is distributed pro-rata to all Liquidity Providers in the pool at the moment of the trade. The user is able to claim the fees when they take their assets back from the protocol.
Beyond receiving trading fees for supplying liquidity, liquidity providers on Uniswap for eligible markets will also receive UNI tokens for providing their service.
Liquidity providers will earn UNI proportional to their contribution liquidity. The UNI and ETH earned through liquidity mining are not subject to any vesting or lock up.
Estimated ETH and UNI Rewards for Eligible Uniswap Liquidity Pools
| Mining Pool | Pool Size (USD) | Est. Average Daily Volume (ETH) | Est. Daily ETH Rewards (ETH) | Est. Daily ETH Rewards (USD) | Est. Daily Uni Rewards (UNI) | Est. Daily UNI Rewards (USD) | Est. Total Daily Rewards (USD) |
|---|---|---|---|---|---|---|---|
| ETH/USDC | $375,243,884 | 135,000.00 | 405 | $139,664 | 83,333 | $426,667 | $566,331 |
| ETH/USDT | $399,549,272 | 205,000.00 | 615 | $212,083 | 83,333 | $426,667 | $638,749 |
| ETH/DAI | $312,875,944 | 90,000.00 | 270 | $93,110 | 83,333 | $426,667 | $519,776 |
| ETH/wBTC | $419,833,337 | 55,000.00 | 165 | $56,900 | 83,333 | $426,667 | $483,567 |
| Total | $1,507,502,437 | 485,000.00 | 1,455 | 501,756.75 | 333,333 | $1,706,667 | $2,208,423 |
Data provided above is only an estimate. Actual results will vary. Liquidity Pool data collected via Uniswap smart contracts 9/23/2020Volume per pool estimated at ETH/USDC (135k ETH), ETH/USDT (205k ETH), ETH/DAI (90K ETH), ETH/wBTC (55k ETH) based on previous 30 day average volume per pool. Assumes ETH price of $344.85 and UNI price of $5.15 and fixed pool sizes, ETH price, and UNI price.
UNI is the newly announced governance token for the Uniswap protocol. UNI provides users and network participants with the opportunity to have a voice in the future developments on one of the most used applications in all of crypto. UNI delivers on the promise of crypto applications being fully decentralized and governed by the users who maintain and use the product.
UNI holders will have governance rights including:
UNI is not being distributed via a token sale. Rather, the token will be distributed to network participants who participate in the network and supply liquidity to eligible markets on Uniswap.
One billion UNI have been minted at genesis and will become accessible over the course of four years. The Uniswap team has described initial four-year allocation as follows:
A perpetual inflation rate of 2% per year will start after four years, incentivizing continued participation in and contribution to Uniswap at the expense of passive UNI holders.
| Asset | UNI |
|---|---|
| Key Dates | September 29th – Registration for Uniswap Mining + deposits open October 2, 9:00 am PDT – Deposits for first deployment closes October 2, 5:00 pm PDT – First deployment to Uniswap October 9, 9:00 am PDT – Deposits for second deployment closes October 9, 5:00 pm PDT – Second deployment to Uniswap November 17 – Uniswap Mining ends November 24 – Tokens are distributed into CoinList wallets A third deployment may occur depending on demand |
| Initial Supply | 1,000,000,000 UNI |
| Inflation Rate | A perpetual inflation rate of 2% per year will start after four years |
| Uniswap Mining on CoinList Period | 9/29 – 11/17 |
| Eligible Participants | Users in CoinList's supported jurisdictions, excluding the United States and Canada |
| Acceptable Assets to Deposit | Eligible participants can deposit one or more of the following assets to participate: - USD - USDC - USDT - DAI - wBTC - ETH |
| Rebalancing | Before we deploy funds to the Uniswap protocol, we will need to rebalance participant's tokens into the eligible Uniswap pools. Funds will be rebalanced into the following breakdown: - 12.5% USDC - 12.5% USDT - 12.5% DAI - 12.5% wBTC - 50% ETH Users will bear any trading costs for conversion. Final conversions and fees will depend on the distribution of assets deposited for use in Uniswap Mining. Not all assets will be converted. |
| Assets you’ll receive at the end of the liquidity mining program |
Eligible participants will receive each of the following assets at the end of the liquidity mining program: - USDC - USDT - DAI - wBTC - ETH - UNI Assets will be distributed pro-rata to all users who participated based on their original contribution amount, denominated in USD, at the time of conversion. |
| Fees | CoinList will take a 2% fee on accumulated liquidity rewards fees and UNI tokens |
| Token Distribution | Tokens will be distributed to CoinList wallets on 11/24 |
| CoinList Role | CoinList shall facilitate the conversion of assets into the pool assets, and will facilitate users' interfacing with the Uniswap Protocol, but has no ability to affect the functionality of the the Uniswap Protocol, and is not a service provider for, nor in any way affiliated with, either the Uniswap Protocol or Universal Navigation Inc. |
| Relevant Smart Contracts | Your funds will be sent to the following Uniswap pool smart contracts: ETH <> USDC ETH <> USDT ETH <> DAI ETH <> wBTC We have linked each of the pools above with their corresponding smart contract for you to review. Additionally, here is the four-month long security audit administered by six dapp.org engineers. |
| Interface Factors |
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| Additional Resources | - Uniswap Website - Uniswap Whitepaper - Uniswap FAQ - Documentation on Pools - Uniswap: A Good Deal for Liquidity Providers? - Uniswap V2 Audit - Uniswap V2 Overview - Github - UNI Announcement - Uniswap Blog |
| Whitepaper | FAQ | UNI Announcement | Security Audit |
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*All information on this Uniswap Interface Mining page is based entirely on publicly available information published by Universal Navigation Inc. or other persons that CoinList reasonably believes are associated with the Uniswap Protocol, and CoinList makes no representations or warranties with respect to the accuracy, completeness or validity of such information.