Crypto Terms: Letter U

What is UNI Token?

UNI Token - UNI is the cryptocurrency utilized by the Uniswap platform.
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Let's find out UNI Token meaning, definition in crypto, what is UNI Token, and all other detailed facts.

UNI token is a native governance token of Uniswap. At the moment, Uniswap is the biggest decentralized exchange (DEX) out there.

Those who own a UNI token are granted governance privileges, which create an enabling environment in decision-making and vote on the platform's terms of flow. Furthermore, UNI holders will benefit from the increasing value of DEX with time.

Users are able to utilize the biggest exchanges to either purchase or trade UNI tokens against other cryptocurrencies as well as fiat currencies. It is accessible on exchanges including Coinbase, Uniswap, Binance, and Huobi.

The UNI token has a total amount of 1 billion units. Because the project has a four-year vesting timeline, the maximum supply will be in circulation by 2024. Following the end of this term, a 2% permanent inflation rate will be applied to the UNI token in order to sustain the network on a yearly basis.

Furthermore, one of the goals of the permanent inflation rate is to discourage passive investors.

The most convenient method to purchase UNI is via a centralized cryptocurrency exchange (CEX) like Coinbase or Kraken. You may also buy UNI using another cryptocurrency, such as Ethereum, through the Uniswap platform.

To be more specific, Uniswap is a decentralized exchange that supports ERC-20 tokens. On the Ethereum blockchain, the protocol allows for the exchange of various tokens that adhere to the ERC-20 standard. Moreover, the 24-hour trading volume is a crucial aspect of the growing value of the UNI coin and Uniswap.