Today in DeFi - Uniswap Launches Token, Marquet, Curve Fires Back

Uniswap Launches Token

Uniswap Protocol 🦄 @UniswapProtocol

We’re thrilled to announce that UNI, the Uniswap Protocol governance token, is live now on Ethereum mainet! Read more: uniswap.org/blog/uni Ethereum Address: 0x1f9840a85d5af5bf1d1762f925bdaddc4201f984

uniswap.orgUniswapUNI, the Uniswap Protocol token, is live!

It was the token launch heard around the world. Uniswap launched its UNI token today. Initial details:

• UNI contract address: 0x1f9840a85d5aF5bf1D1762F925BDADdC4201F984

• 60% of the UNI genesis supply is allocated to Uniswap community members, a quarter of which (15% of total supply) has already been distributed to past users

• To start, UNI is available through four liquidity mining pools: UNI holders may vote to add more pools after an initial 30-day governance grace period

As the leading DEX by volume, as well as possibly being the most respected and popular DeFi projects ever, this was a highly anticipated launch to say the least.

Gas prices shot up, reaching 1000 Gwei for “Rapid” at times, as people traded and claimed UNI.

As of writing, Uniswap contracts hold all three top positions on Etherscan’s Gas Tracker.

UNI can be claimed by anyone who has used Uniswap, as well as historical liquiduity providers, and can also be earned, starting Sept. 18 12am UTC, by liquidity mining across the following four pools:

• ETH/USDT

• ETH/USDC

• ETH/DAI

• ETH/WBTC

Find out more in the medium article ( Yes, it’s worth reading.)

Marquet

Marqet @Marqet_Exchange

We are proud to present Marqet ! Marqet combines @AaveAave credit delegation with @synthetix_io peer to contract exchange to uniquely provide trustless margin trading of any synthetic asset with no slippage.

medium.comMarqet: Margin Trade Any Synthetic AssetMarqet combines AAVE credit delegation with Synthetix peer to contract exchange to uniquely provide trustless margin trading of any…

Marquet today announced their project, a margin trading platform which leverages Aave Credit delegation along with Synthetix. This allows them to margin trade any asset available on Synthetix. Because these are synthetic assets traded peer to pool, there is no slippage.

Marquet is one of the first projects launched with the help of fair launch capital, a specialized fund which aims to support projects which don’t have a premine and emphasize community participation and token distribution.

Marquet demonstrates the value of DeFi composability. In traditional software or fintech, creating a leveraged synthetic asset platform would take years of work. Marquet seemingly has done so in months, by leveraging existing projects.

Find out more in their Medium article.

Curve Fires Back

A new CIP - Curve Improvement Proposal - proposes to add a new pool which swaps between yearn Vaults allowing one to hunt yield between bvaults while avoiding the 5% vault withdrawal fee. If this sounds familiar, it should, as it’s the same value proposition as Snowswap, a new DeFi project announced yesterday.

Curve @CurveFinance

In several days, the admin fees for veCRV holders start being accumulated. To be the earliest for those, one can vote-lock $CRV [dao.curve.fi/locker] before this Thursday UTC midnight (in 10 h 20 min from now). A guide coming soon

Curve @CurveFinance

Back-of-envelope calculation shows that with today's daily trading volume for stablecoins ($290M), those who lock $CRV would be earning 200% APY from admin fees (CIP-13) 😱 (a bit more because fees on asymmetric deposits/withdrawals are not accounted in this calculation)

There is a lot more going on with Curve, including an upcoming change where admin fees will be distributed to those who lock CRV. To stay up to date on Curve Governance, which honestly is becoming a part-time job in itself, check out gov.curve.fi.