Uniswap Releases Unichain, UNI Token Rises Directly

JAKARTA - Uniswap, a decentralized financial protocol (DeFi), announced the launch of Unichain, a new Ethereum-based blockchain. Suddenly, this launch boosted the value of UNI tokens by 10% on Thursday, October 10. Unichain allows users who stake UNI tokens to share revenues generated from the Uniswap protocol.

Based on data from Defilama, Uniswap now occupies the seventh position in the world of DeFi with a total deposit of nearly US$4.5 billion (Rp67.5 trillion). Since its launch nearly six years ago, Uniswap has raised more than US$3.8 billion (Rp57 trillion) in transaction fees. The UNI token serves as a governance token that grants voting rights to its holder, with nearly 400,000 crypto wallets listed as owners of this token.

Launching DLNews, UNI holders have been wanting revenue sharing from the protocol. They support the activation of a fee switch' which is considered to provide benefits for UNI investors. However, various proposals to implement this step are experiencing obstacles due to concerns about potential violations of securities laws in the US.

A recent proposal aimed at activating a fee switch was designed to divert some Uniswap revenue to UNI holders who delegate their tokens for use in protocol governance. However, in May, the Uniswap Foundation canceled voting related to the switch fee on a predetermined day, citing the need for further research.

With the launch of Unichain, Uniswap is expected to take advantage of distributed networks of validators to process transactions. Users who stake UNI will get rewarded, although this will not replace the importance of a fee switch. Now Unichain has been actively tested on the Ethereum network, and the final version is scheduled to launch on the main network before the end of this year.