Top decentralized exchange (DEX) Uniswap has urged the US Securities and Exchange Commission (SEC) to drop its proposed attempt to expand the definition of an “exchange” to include DeFi markets, according to a July 9 letter. Last year, the SEC proposed expanding the definitions of an exchange to include participants in the DeFi markets. However, […]
The post Uniswap cites Supreme Court ruling to push back against SEC’s DeFi oversight appeared first on CryptoSlate.
The DEX pointed to the Supreme Court's ruling on Chevron deference, arguing that the SEC should abandon its effort to regulate DeFi.
With its swap volume surging to a new all-time high, Uniswap, the leading decentralized exchange (DEX) in the cryptocurrency industry, has achieved a noteworthy milestone, showcasing its position as a formidable DEX. This accomplishment emphasizes how important the exchange is to the continuing growth of Decentralized Finance (DeFi), as more users look to DEXs for […]
Crypto and some key sub-sectors, like decentralized finance (DeFi) or non-fungible token (NFT) trading or minting, remain dynamic. While activity is highly influenced by price, other changes are settled not by how prices gyrate but by time. Uniswap Users Are Increasingly Posting Small Trade Sizes Events in Uniswap, a leading decentralized exchange (DEX) on Ethereum, draw the interest of Token Terminal, a blockchain analytics platform. Related Reading: Here’s Why The Worldcoin (WLD) Price Surged Over 15% In One Day To Reach $3 According to Token Terminal, a curious trend is happening in Uniswap: While the Ethereum ecosystem is expanding and expected to grow even more, trade sizes on Uniswap are shrinking rapidly. Over the last two years, the average trade size on the popular DEX has fallen from around $30,000 registered in 2022 to roughly $1,000 at press time. Commentators speculate that this trend could point to increasing adoption, especially among retailers. Compared to institutions or crypto hedge funds that might want to trade huge chunks, most retailers lack those resources. They are more comfortable with lower trade sizes. This observation makes sense, especially with the explosion of meme coins deployed on the mainnet or layer-2 platforms like Base. Though Uniswap first launched on the Ethereum mainnet, it is also available on Base, Arbitrum, and Polygon. It enables the trading of tokens in a low-fee environment. On these platforms, market participants can trade on smaller sizes since they know the fee impact will be lower than on the mainnet. Another perspective suggests that the rise of competing DEXs built on alternative blockchains like Solana and BNB Chain might be drawing activity away from Uniswap. Modern blockchains like Solana offer faster transaction speeds and lower fees. With Ethereum processing 15 TPS at optimum, the higher scalability and interoperability with the first smart contracts platform can appeal to some traders. DEX Users Rapidly Climbing As Ethereum Finds Regulatory Clarity The decline in trade size comes surprisingly alongside a surge in overall DEX activity. Another Token Terminal report shows that monthly active traders across leading DEXs, including Uniswap, stand at 11.2 million. It is roughly 3 million short of the all-time posted in December 2021. This observation suggests that though more traders post smaller sizes, more users are keen on exploring and participating. Related Reading: XRP Faces Extended Bearish Pressure At $0.4937 Amid Market Weakness Even as Uniswap’s average trade size falls, analysts are bullish on the protocol and UNI, its native token. The platform plans to launch Uniswap v4 while Ethereum now has regulatory clarity, especially with a spot Ethereum exchange-traded fund (ETF) on the way. Feature image from Adobe Stock, chart from TradingView
Ethereum is the home of decentralized finance (DeFi), looking at the over $100 billion in total value locked (TVL). Even though the figure fluctuates, mainly depending on the performance of ETH, it is clear that DeFi has proven revolutionary, opening up new use cases spanning multiple sectors, including finance and insurance. Are Ethereum DeFi Protocols […]
Uniswap Labs made a significant move into the blockchain gaming industry with its recent acquisition of ‘Crypto: The Game’ (CTG), an on-chain survival game. Notably, the second season of CTG witnessed unprecedented success, with all 800 available spots selling out within a mere 13 minutes. Recognizing the game’s popularity among both the core crypto community […]
In a blow to the momentum of the Uniswap native token, UNI, the decentralized exchange (DEX) has been forced to postpone a highly anticipated proposal that would have improved its token governance and fee distribution model. Meanwhile, the company is also locked in a legal battle with the US Securities and Exchange Commission (SEC) over the regulatory status of its UNI token. Postponed UNI Governance Upgrade Sparks Sell-off On Friday, the Uniswap Foundation announced that it was delaying the deployment of the first proposal to activate Uniswap Protocol Governance. The foundation cited the need for additional due diligence on “a new issue” raised by a stakeholder, underscoring the sensitivity of the proposed upgrade. The Foundation further stated: This was unexpected, and we apologize for the postponement. We will keep the community apprised of any material changes and will update you all once we feel more certain about future timeframes. Related Reading: Market Analysis: How Will Mt. Gox’s Bitcoin Distribution Affect Crypto Prices? The shelved proposal aimed to streamline Uniswap’s fee mechanisms, allowing UNI token holders who have staked and delegated their tokens to be rewarded. It would have increased the efficiency of fee adjustments and reduced the governance burden on delegates while maintaining the protocol’s “credible neutrality.” The delay has had a tangible impact on UNI’s price, as seen in the token’s daily UNI/USD chart above. The token has slid down to the key support level at $10.20—an 8.6% decline in the past 24 hours. Should the token fail to regain bullish momentum and the $10 support level, it could retrace further to $9.66 and potentially as low as $9.33. Uniswap In High-Stakes Showdown With SEC Adding to Uniswap’s challenges, the company is embroiled in a high-stakes legal battle with the SEC. The regulatory agency has issued a Wells Notice to Uniswap Labs, signaling its intent to recommend enforcement action against the firm. Uniswap Labs has pushed back, arguing that the SEC’s case is flawed and fails to recognize the distinction between tokens as stores of value and tokens as securities. The company has expressed confidence in a favorable outcome, noting that its legal team has a strong track record of victories against the SEC, stating: But we’re prepared to fight. Our lawyers are 2-0 in high-profile SEC cases. Andrew Ceresney, a former head of enforcement at the SEC, represented Ripple in their victory over the SEC. Don Verrilli, a former U.S. solicitor general, has argued more than 50 cases before the U.S. Supreme Court and represented Grayscale in its successful case against the SEC. Related Reading: Rumor Of Apple Partnership Sends Crypto Altcoin Soaring By 20% Despite these setbacks, Uniswap continues to demonstrate substantial growth, with a total value locked (TVL) of $6.1 billion and a market capitalization of $7.7 billion, according to DeFiLlama data. Moreover, CoinGecko data shows that the UNI token’s trading volume has increased by 21.5% over the past 24 hours, reaching $264 million. As the Uniswap community awaits updates on the delayed governance proposal and the outcome of the SEC battle, the platform’s long-term prospects will likely hinge on its ability to navigate these challenges and maintain its position in the market. Featured image from Shutterstock, chart from TradingView.com
The "fee-switch" vote was supposed to take place today.
The Uniswap Foundation's balance sheet shows $41.41 million in fiat and stablecoins and 730,000 UNI tokens.
Transactions attributed to the Runes protocol accounted for over 50% of all Bitcoin transactions between April 20 and 24; however, by May 2, this figure had dropped to 11.1%.
Uniswap Labs, the creator of one of the largest decentralized trading platforms, is challenging a potential enforcement action by the US Securities and Exchange Commission (SEC), arguing that crypto tokens should not be classified as securities. The New York-based firm recently refuted the allegation that it operated as an unregistered exchange and broker-dealer. This response follows the SEC’s issuance of a Wells Notice to Uniswap Labs, signaling its intent to recommend legal action against the company. Uniswap Labs Challenges SEC’s Claims In a 40-page filing submitted to the SEC, Uniswap Labs outlined numerous reasons why the agency’s pursuit of legal action should be reconsidered. The SEC’s claims are primarily based on the assumption that all tokens are securities, a premise that Uniswap Labs disputes. Related Reading: Institutional Investors Pour $942 Million Into Bitcoin, Will This Trigger A Rally To $80,000? Marvin Ammori, Chief Legal Officer of Uniswap Labs, emphasized that tokens are merely a file format for value and not inherently securities. He criticized the SEC’s attempt to redefine the terms “exchange,” “broker,” and “investment contract” to encompass Uniswap’s operations. This year, the SEC has taken action against numerous crypto firms through Wells notices, lawsuits, or settlements. The commission’s scrutiny has increasingly focused on Ethereum and decentralized finance players, including Uniswap, ShapeShift, TradeStation, and Consensys. Additionally, reports suggest that the Ethereum Foundation is under investigation. Distinction Between Tokens And Securities Uniswap Labs believes that the SEC’s case against them is flawed. It fails to recognize the distinction between tokens as files for value and tokens as securities. If the SEC proceeds with a lawsuit accusing Uniswap Labs of operating as an unregistered exchange, it risks facing adverse consequences regarding its authority over crypto tokens. Uniswap Labs warned that such litigation could set a precedent undermining the SEC’s ongoing rulemaking efforts. The company expressed its willingness to litigate if necessary and expressed confidence in a favorable outcome, stating: But we’re prepared to fight. Our lawyers are 2-0 in high-profile SEC cases. Andrew Ceresney, a former head of enforcement at the SEC, represented Ripple in their victory over the SEC. Don Verrilli, a former U.S. solicitor general, has argued more than 50 cases before the U.S. Supreme Court and represented Grayscale in its successful case against the SEC. Related Reading: Why Is The Ethereum Price Up 20% Today? SEC Chairman Gary Gensler has consistently maintained that decentralized exchanges are not genuinely decentralized and should fall under the regulator’s purview. Gensler has also argued that many digital assets qualify as unregistered securities subject to SEC regulations. Uniswap Labs, in its response, contended that its governance token, UNI, does not meet the requirements of the Howey Test, a legal framework used to evaluate investment contracts. The company also disputed the SEC’s classification of LP tokens, which are used as securities for liquidity provision in Uniswap pools. Uniswap Labs asserted that LP tokens are accounting tools rather than investment instruments. Uniswap’s native token UNI has seen significant gains of nearly 20% in the last 24 hours alone, as the market rebounded from a two-month consolidation period to trade at $9.34. Featured image from Shutterstock, chart from TradingView.com
Uniswap Labs moved Tuesday to quash a looming regulatory battle over Ethereum's dominant decentralized crypto exchange, imploring the Securities and Exchange Commission in legal filings that its planned lawsuit wasn't worth the fight.
Hayden Adams suggested that crypto policies from the SEC and Senator Elizabeth Warren could hurt President Joe Biden’s chances for a second term.
Identifying trends in DeFi requires analyzing activity on decentralized exchanges (DEXs). These DEXs are the cornerstone of the DeFi market, at the center of DeFi activity, and the main driving force of the sector. To understand what drives DeFi, we need to look at the volume, trader activity, and variety of trading pairs on DEXs. […]
The post DeFi landscape shifts as Solana dethrones Ethereum in trading volume appeared first on CryptoSlate.
Hayden Adams, founder of the Uniswap protocol, has shared his opinion on what characterizes a good distribution or rollout of a token. In a recent post on the X platform, the prominent crypto figure listed 10 qualities of good token distributions, highlighting the complexities surrounding the launch of a cryptocurrency. Uniswap Founder Gives Opinion On Good Token Distributions Adams began his take on good token distributions by stating that projects should allocate “tokens, not points” to the community. This phrase implies that participants should receive actual tokens that hold value within a particular ecosystem or on a network, instead of receiving points that may have limited utility. Secondly, Adams warned against creating ambiguity or being vague about a token distribution to increase the number of participants or to “farm the farmers.” A good token distribution practice includes sharing real details when ready, according to the Uniswap founder. Related Reading: Crypto Expert Arthur Hayes Says Bitcoin Has Found Its Local Bottom – But Can It Hold This Level? Additionally, Adams criticized “low float tokens,” while calling them malicious. The prominent DeFi figure urged project teams to ensure sufficient tokens are available in circulation to prevent manipulation and allow genuine price discovery. Adams also discouraged hyping a token’s price and how it will skyrocket before it launches. The founder believes hiring an influencer or a marketing company to promote a token’s value only depicts a get-rich-quick scheme rather than a genuine attempt at building real value. What’s more, the Uniswap founder stressed the importance of free token airdrops during token distributions. “Don’t be stingy – give a significant amount away. If you don’t think the community deserves a significant amount, don’t release a token,” Adams said in his post. Ultimately, Adams advised new crypto projects to be careful and thoughtful in their decision-making to avoid making mistakes that might put them at odds with the crypto community. “Create something you’re proud of and stand behind it,” the Uniswap founder added. A Jab At Friend.tech and its FRIEND? At the beginning of his post, the Uniswap founder clearly stated that the opinion is not aimed at any specific project. However, the timing is interesting, especially after social media platform Friend.tech’s “unsuccessful” token airdrop. Related Reading: Injective (INJ) Price In Danger If It Falls To Crucial Support Level: Analyst On Friday, May 3rd, Friend.tech airdropped its new FRIEND tokens to users in conjunction with the launch of the protocol’s version 2. While the token’s value quickly rose to $167 after launch, FRIEND’s price nosedived to below $2 within a few hours. Analysts pinpointed liquidity issues and a mass sell-off as the primary reasons behind the downturn of FRIEND and, ultimately, the ineffectual token launch. Moreover, many users complained about how challenging it was to claim the token airdrop, as technical drawbacks reportedly frustrated the process. UNI price stalls at $7.5 on the daily timeframe | Source: UNIUSDT chart on TradingView Featured image from Shutterstock, chart from TradingView
Uniswap, one of the world’s largest decentralized exchanges (DEX) by total value locked (TVL), is approaching a major milestone on Arbitrum, the largest layer-2 by TVL on Ethereum. According to data from Dune Analytics shared by Uniswap Labs, Uniswap on Arbitrum is on the cusp of surpassing a staggering $150 billion in total swap volume. Riding The DeFi Boom As of April 25, Uniswap had facilitated over $146 billion in cumulative swap volume on Arbitrum alone. The number has gradually increased over the past three years since June 2021, when it was deployed on Arbitrum, looking at on-chain data. By August 2021, Uniswap was processing less than $5,000 in swap volume. After that, they steadily picked up momentum throughout the crypto bear run of 2022. Notably, a sharp uptick from October 2023 coincided with the start of the crypto boom that eventually propelled Ethereum to over $4,000 in Q1 2024. Related Reading: HBAR Prices Crashes 35% As BlackRock Denies Any Ties To Hedera The rising swap volume on Arbitrum reflects the increasing preference for Decentralized Finance (DeFi) solutions. As Uniswap on Arbitrum nears $150 billion, more users are increasingly turning to the popular DEX to trade, all without giving up control of their assets. The surging popularity of Uniswap on Arbitrum can be partly attributed to significantly lower transaction fees compared to the Ethereum mainnet. Through Arbitrum, the optimistic roll-up solution, swappers enjoy low transaction fees. They can also trade from a scalable environment secured by the Ethereum mainnet. Ethereum developers recently implemented Dencun, introducing a new transaction format called “blobs.” Because of this, layer-2 solutions can store large chunks of data off-chain, reducing the mainnet bloat. Subsequently, fees have been lowered, drastically enhancing the user experience for Arbitrum and other layer-2 users like Base and Optimism. Uniswap V4 And United States Wells Notice Following Dencun’s activation, Uniswap Labs plans to deploy v4. This iteration introduces features like Hooks that developers say will make the DEX even more efficient and flexible. The launch is set for this year. Though Uniswap V4 is huge for the DEX and DeFi as a whole, the United States Securities and Exchange Commission (SEC) ‘s decision to issue a Wells notice is a setback. Related Reading: SEC Anticipated To Reject Spot Ethereum ETFs In Upcoming Decision, ETH Price Takes 5% Hit The regulator intends to sue. However, the founder, Hayden Adams, responded in a post on X that they are ready to fight. Feature image from Shutterstock, chart from TradingView
SEC actions have made developers fearful that their code may end in prosecution. Are smart contracts with immutable code the way to protect themselves?
Uniswap, the pioneering decentralized exchange (DEX), finds itself at the center of a legal maelstrom as the US Securities and Exchange Commission (SEC) sets its sights on the platform. The unexpected developments echo throughout the bitcoin space, igniting a fresh discussion about governmental overreach and its possible to inhibit innovation. Related Reading: Thailand Throws Jab […]
Uniswap Labs, the software development company behind the decentralized exchange (DEX) Uniswap, was served with a Wells Notice by the US Securities and Exchange Commission (SEC) on Wednesday, which could result in an Enforcement Action. Amid these regulatory challenges, Uniswap Labs has partnered with Across, a cross-chain protocol, to propose a new standard for cross-chain […]
The DEX received a Wells Notice from the regulator, suggesting an enforcement action is imminent. While we don’t know the nature of the potential charges, the news raises the threat of legal jeopardy for decentralized finance.
Trading activity on the Uniswap decentralized exchange dipped by almost 10% the past day after the US Securities and Exchange Commission (SEC) issued a Wells notice to Uniswap Labs, the entity behind it. Data from DeFillama shows that Uniswap’s facilitated trades worth $2.7 billion across several blockchain networks, including Ethereum, Arbitrum, Coinbase-backed Base, and others. […]
The post Uniswap trading dips 10% following SEC Wells notice, UNI token hits multi-week low appeared first on CryptoSlate.
Uniswap Labs founder Hayden Adams said its “ready to fight” after disclosing it received a notice of possible enforcement action from the SEC.
The U.S. SEC issued a Wells notice to the decentralized exchange Uniswap on April 10, the team confirmed on social media.
UNI's price has dropped by more than 9% in the past hour.
In a significant development that highlights the Securities and Exchange Commission’s (SEC) increasing regulatory actions against the cryptocurrency industry, Uniswap Labs, the software development company behind the Uniswap decentralized exchange (DEX), recently received a Wells Notice from the SEC. A Wells notice is a formal communication issued by the US SEC to individuals or entities […]
Amid a marketwide bullish run, Uniswap’s UNI token has reached a new two-year high.
Uniswap's UNI gained 20% as a governance proposal to distribute protocol revenues among token holders gets overwhelming support in a temperature check before voting.
A wallet that received 5.44 million uniswap {{UNI}} tokens in 2020 sold 90,000 UNI worth $1.03 million during Friday's price surge to $12.80.
Bitcoin price begins a slow recovery, boosting the bullish momentum in ETH, UNI, FIL and GRT.
UNI went on a 50%+ run after a proposal from the Uniswap Foundation suggested “rewarding UNI holders who have staked and delegated their tokens.”