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Wednesday, October 27, 2021

Uniswap Intends To Delist Tokens Numbering Over 100

Uniswap which ranks as one of the leading exchanges in the world announced that various tokens will be delisted from its application. The protocols will remain autonomous but these tokens will be blacklisted from the application interface. This was announced on the 23rd of July. They mentioned that changes will be made at the site:  app.uniswap.org only. 

Uniswap Labs structured the front-end of the web portal which was dissociated from the protocol itself. The protocol was then released to the public as an autonomous code. 

Uniswap Called Into Questioning

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Uniswap Labs mentioned in their blog that the increase in regulations had manipulated its decision and that they always try to look into the evolving situations regarding the regulations. 

The tokens which were delisted included instruments that could be classified into securities (options tokens, tokenized stocks, and synthetic assets made by platforms such as Synthetix). 

XAUT (Tether Gold) and GRUMPY (Grumpy cat), which was themed as a meme,  were also removed due to some bugs in their code. They are to be completely blacklisted by the company.

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The decentralization of Uniswap was questioned as the UNI holders were not allowed to share their views in making the ultimate decision. They tweeted that there was a lack of information and asked if the decision was made via a vote by the governance. If the voting was avoided then it could set up a terrible example for the company.

Uniswap is the leading exchange (decentralized) by the sheer volume of trades with v3 and v2 versions of the protocol worth $1.45 billion in trades. The pressure asserted by the regulatory bodies keeps on mounting all over the globe as Binance expects the UK and US governments to make their restrictions stricter. Texas, Alabama, and New Jersey have begun taking actions against the platform and ordered issues against BlockFi. 

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