Tag: Uni

Uniswap Labs Announces Bug Bounty Program with Rewards Up to 2.25 Million USDC

by Blockchain News

Uniswap ($UNI) Labs has officially launched a Bug Bounty Program (“the Program”). The initiative aims to encourage ethical hackers and security researchers to identify and report vulnerabilities in Uniswap’s deployed contracts. Rewards for successful bug disclosures can reach up to 2,250,000 USDC, depending on the severity of the issue.

Scope of the Program

The Program specifically targets vulnerabilities in Uniswap’s deployed contracts, including but not limited to:

Universal Router Contract Code

Permit2 Contract Code

V3 Contract Code

UniswapX Contract Code

However, if a bug is discovered in a Uniswap smart contract outside of these repositories and poses a risk to user funds, it will be considered in-scope for the Program.

Exclusions

The Program does not cover:

  1. Third-party contracts not under Uniswap’s direct control

  2. Issues already listed in audits for the above contracts

  3. Bugs in third-party contracts or applications that use Uniswap contracts

  4. The Uniswap DAPP, web interface, or other non-contract related materials

Reward Structure

Uniswap Labs has categorized the severity of potential issues into four levels:

  1. Critical Issues: Impacting numerous users and posing serious reputational, legal, or financial risks.

  2. High Issues: Affecting individual users and posing moderate financial risk.

  3. Medium Issues: Posing relatively small risks and not threatening user funds.

  4. Low/Informational Issues: Relevant to security best practices but not posing an immediate risk.

The rewards will be allocated based on this severity scale and the likelihood of the bug being exploited, as determined solely by Uniswap Labs.

Disclosure Protocol

All vulnerabilities must be reported to Uniswap Labs via the designated email: security+bugbounty@uniswap.org. Public disclosure of the vulnerability is prohibited until Uniswap Labs has resolved the issue and granted permission for public disclosure.

Eligibility Criteria

To be eligible for a reward, the reporter must:

  1. Discover a unique, previously-unreported vulnerability within the scope of the Program.

  2. Be the first to disclose the vulnerability to Uniswap Labs.

  3. Provide sufficient information for the vulnerability to be reproduced and fixed.

  4. Comply with all other terms and conditions of the Program.

Final Remarks

Uniswap Labs retains the sole discretion to alter the terms and conditions of the Program at any time. By participating in the Program, you grant Uniswap Labs the rights needed to validate, mitigate, and disclose the vulnerability.

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Uniswap Labs is Working to Secure over $100M in New Funding

by Blockchain News

According to TechCrunch reports, Uniswap Labs is planning a new round of equity financing of 100 million to 200 million US dollars.

UNI.jpg

The decentralized exchange (DEX) has come a long way since its inception at the end of 2018.

Currently, the blockchain protocol running on Ethereum is the fourth largest one on DeFi Pulse, with a total value locked of $3.79 billion.

According to DeFi Llama, despite the market downturn, the exchange protocol’s token market cap is approaching $5 billion. and had a monopoly of 64% of all decentralized exchanges (DEXs) trading volume.

Uniswap Labs is reaching out to a number of investors, including Polychain and one of Singapore’s sovereign funds, to raise between $100 million and $200 million at a valuation of around $1 billion, laying the groundwork for a variety of upcoming products, according to those involved. 

Mary-Catherine Lader, COO of Uniswap Labs, said one of the new products will allow customers to trade NFTs on Uniswap from multiple marketplaces. Another is a wallet, according to people familiar with the matter.

Uniswap is considered the largest decentralized exchange (DEX) operating on the Ethereum blockchain. The platform has been helping lead the decentralized finance (DeFi) movement and has proven itself as an advocate for the democratization and decentralization of the traditional financial system. Last September, the U.S. Securities, and Exchange Commission (SEC) began investigating Uniswap Labs, looking into how investors use Uniswap — the world’s largest decentralized exchange — and how the platform is marketed.

In April, Uniswap Labs, the largest decentralized exchange and automated market-making protocol on Ethereum, announced the launch of a new venture capital arm, Uniswap Labs Ventures, to invest in projects across Web3.

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Crypto Whales Are Focusing on Two Gaming Altcoins As Bitcoin and Ethereum Move to the Upside

by Dailyhodl

Fresh data shows the world’s biggest Ethereum whales are stocking up on a pair of gaming tokens while the broader crypto markets maintain positive momentum after a sluggish start to the year.

The latest numbers from WhaleStats reveal the 1,000 wealthiest non-exchange Ethereum addresses are buying into Decentraland (MANA), a virtual reality world that runs on Ethereum.

In the past 24 hours, the whales have bought on average 1,500 tokens for an average total purchase price of $4,980. MANA has also cracked the top-10 of total holdings, sitting at the ninth slot with an average quantity of 100,905 for a valuation of $331,227.

Whalestats says that total site-wide MANA holdings among whales are worth over $333.6 million and accounts for 3.11% of their cumulative bags.

At time of writing, Decentraland is the 34th ranked crypto by market cap and trading for $3.34.

Also on the whales’ radar is Smooth Love Potion (SLP), a token used within the Axie Infinity (AXS) ecosystem to earn rewards and purchase creatures in the online battling game.

Whalestats reports that over the past day whales purchased on average 125,380 SLP for a total value of $4,696.

The price of Smooth Love Potion has been surging higher and higher all week as news spread that Axie Infinity developers planned to drastically cut future issuance of SLP to curtail inflation.

The token has more than tripled in value and is up another 38% today to $0.037.

Source: Whalestats

Whalestats also posted some of the largest crypto purchases this week:

The 26th-largest wallet named Trinity bought 1,500,000 MANA for $4,980,000.

The 21st-ranked whale purchased 49,999,997 SLP for $1,998,612.

The whale ranked #305 helped itself to 657,998 tokens of layer-2 scaling solution Polygon (MATIC) for $1,322,576, then went back for seconds to the tune of $1,507,480 for 749,990 MATIC.

The 594th-biggest whale was not to be outdone, shelling out over $4 million to acquire 332,900 of UNI, the altcoin that powers the decentralized exchange Uniswap.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Santiment Looks at State of Solana (SOL), Uniswap (UNI), AAVE and One Other Altcoin As Crypto Markets Bounce

by Dailyhodl

An executive at Santiment crypto analytics firm is analyzing a handful of altcoins that surged in price earlier this week but have since corrected.

In a new YouTube video, Santiment director of marketing Brian Quinlivan says that the 30-day market value to realized value (MVRV) metric is helpful when hunting for crypto bargains.

The MVRV metric reveals the average profit/loss for coins in circulation.

According to the analyst, decentralized crypto exchange Uniswap (UNI) falls into a “good opportunity zone,” right now in terms of its 30-day MVRV.

“We typically look for anything below 15% to be a good opportunity zone, and we definitely jumped way below 15% there… we are well into the opportunity zone still for Uniswap.”

Uniswap, however, has seen surging inflow onto exchanges, with exchange supply going up accordingly, Quinlivan explains. The analyst says this development is “a little bit concerning.”

Quinlivan says whales have been accumulating the governance token of Aave (AAVE), a DeFi lending protocol. The analyst says that’s “a good sign from the key stakeholders” of the crypto asset. He adds that AAVE is displaying a few more bullish metrics than Uniswap.

Quinlivan notes that investors appear to be shorting virtual reality platform Decentraland (MANA) on the crypto exchanges Binance and FTX.

The crypto analyst notes this actually is an optimistic development for the crypto asset.

“It’s pretty cyclical, and right now, this is one of the most bullish metrics for MANA, because there’s such an immense amount of shorting that… these huge spikes are bound to be liquidated at some point because people shorting to this extent usually doesn’t go too well.”

However, Quinlivan also notes that Decentraland’s MVRV and on-chain metrics look bearish.

The crypto analyst says development activity on the smart-contract platform Solana (SOL), measured by daily GitHub submissions, has been on the rise in the past year.

“The daily GitHub submissions is sitting at about a little over 500 a day right now, after… a year ago being at 190. So that’s a very good sign, and it’s indicative of the fact that Solana’s team still believes in improving the product, innovating where possible, and they believe that it has long-term sustainability, and that’s a really great thing to keep in mind when it comes to any asset.” 

Solana’s native token, SOL, is trading at $97.90 at time of writing, down 10.35% in the past day.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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XRP, Uniswap (UNI), the Graph (GRT) and Three More Altcoins Approaching ‘Opportunity Zones’: Santiment

by Dailyhodl

Analytics firm Santiment is highlighting possible entry points for half a dozen altcoins amid a general downtrend which has given the crypto markets an extended pullback throughout January.

In its weekly Insights newsletter, Santiment says that while most crypto investors are feeling pain, opportunities exist for those with patience and some handy cash.

The data firm says that the market value to realized value (MVRV) metric, which reveals the average profit/loss for coins in circulation, is helpful when hunting for crypto bargains.

“MVRV is a great metric to gauge how deep traders are into pain or euphoria zones.

We commonly like to look at an asset’s 30-day MVRV, specifically, because it reveals what weekly swing traders can likely take advantage of, as far as mid-term trading goes… Blending in how much pain short-term, mid-term, and long-term traders are experiencing all together, can paint an even clearer picture.”

Looking at the MVRV metric, Santiment names six altcoins that can potentially bounce as traders feel pain.

One crypto asset on the list is open-source digital currency XRP, which the insights firm says is primed for a rally after a strong move down.

“The polarizing project is at its most negative average MVRV level since late June. It was last in positive territory in mid-December, making it a solid candidate to have a price upswing to bring traders some relief.”

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Source: Santiment

When it comes to decentralized exchange Uniswap (UNI), the crypto insights firm says,

“Uniswap’s average MVRV is at all-time negative MVRV levels.

An uptick in the general crypto markets may go very well for a mostly respected altcoin like UNI.”

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Source: Santiment

Decentralized blockchain indexer The Graph (GRT) is also at MVRV lows, with Santiment noting,

“Its average MVRV was last positive in late November.”

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Source: Santiment

Looking at decentralized crypto lending and borrowing protocol Compound (COMP), Santiment says,

“Compound is also at its most negative average MVRV level since late June.”

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Source: Santiment

As for layer-2 ZK (zero-knowledge) rollup protocol Loopring (LRC), the analytics firm says LRC still has some upside potential.

“Loopring has already been in the midst of a nice-sized bounce compared to the rest of the altcoin pack over the past week, [but it] is still in a nice, deep negative average MVRV spot.”

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Source: Santiment

Last on the list is lending and borrowing protocol Aave (AAVE), which also hasn’t seen much positive price action in more than two months.

“AAVE is sitting at near all-time negative levels, which is great to see if you’re considering buying.”

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Source: Santiment

You can read the full report here.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Top DeFi Tokens in Uniswap, Chainlink, Curve All Dip as Crypto Markets Cool

by Decrypt

The decentralized finance (DeFi) sector has taken a beating over the past day, with several blue-chip tokens suffering significant losses.

UNI, the governance token of decentralized exchange (DEX) Uniswap is down 11.8%, slipping to an intraday low of $15.29, according to CoinGecko.

The token lost 16% of its value in the past two weeks and is currently 65.9% off its all-time high of $44.9 seen in May last year.

LINK, the native token of DeFi’s leading oracle project Chainlink, has meanwhile slipped to a two-week low, losing 7.1% over the day and almost 20% in the past week.

Speaking to Decrypt earlier this month, Chainlink co-founder Sergey Nazarov revealed that the project is planning to add a staking option for LINK holders later this year.

However, the initial enthusiasm, which took LINK above $28 last week, is seemingly cooling off, with the token trading at $21.56 by press time.

CRV, the token powering Curve Finance, a decentralized trading platform focused on stablecoins and like-valued assets, is similarly down 7% since Tuesday, changing hands at $4.32 at press time.

CRV surged above $6.50 at the start of the year; however, the token’s price retraced since then significantly, losing almost 30% in the past two weeks, as data from CoinGecko shows.

Loopring bucks DeFi downtrend

Elsewhere, LRC, the native token of the Layer 2-based crypto exchange Loopring, seems to be defying the downtrend, going up 3.7% over the day to a daily high of $1.19.

However, this will come as little consolation to longer-term LRC holders as the token is down 20.2% over the last seven days and as much as 42.5% down in the past two weeks.

Looking at the bigger picture, data from DefiLlama shows that the total value locked (TVL) in DeFi protocols has sunk by roughly $25 billion since the start of the year, currently standing at $226.92 billion.

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These Crypto Assets Have 10X Potential in 2022, According to Altcoin Daily

by Dailyhodl

Crypto analyst and host of Altcoin Daily Austin Arnold is laying out his top crypto picks as the markets try to shake off a sluggish start to the year.

In a new video, the closely followed trader tells his 1.19 million subscribers that he remains interested in Bitcoin (BTC) as an asset despite the massive selloff which the top crypto has undergone since hitting an all-time high above $69,000 in November.

“People are buying the dip from every exchange. Bitcoin is leaving exchanges.

Miners are not selling their Bitcoin, they’re holding onto it.”

At time of writing, Bitcoin is down 2.02% to $42,613.

Next on Arnold’s list is the leading smart contract platform Ethereum (ETH), noting that,

“Ethereum has its own supply shock going on.

Ethereum 2.0 deposit contract has surpassed $30 billion in value. Once [holders] put their ETH in the deposit contract, they can’t take it out again until it is fully transitioned.”

Ethereum is down 2.17% on the day and trading for $3,259.

The show host has his eye on decentralized finance protocol Uniswap (UNI), which recently deployed on fellow layer-2 protocol Polygon (MATIC).

“2022 might be the year of layer-2s.”

Uniswap is valued at $15.61 while Polygon is trading for $2.26.

Another layer-2 the Altcoin Daily host is keen on is Immutable X (IMX), a scaling solution for non-fungible tokens (NFTs) that aims to enable near-instant, zero gas fee transactions.

The altcoin is down 3.24% on the day and priced at $3.55.

Next on Arnold’s list is the open-source platform Tezos (XTZ), which has been racking up corporate partnerships lately. The latest milestone sees apparel giant The Gap releasing NFT collectibles based on the Tezos platform.

“Tezos is certainly an altcoin to watch doing big things.”

Tezos is also down slightly today to $4.18.

Looking at the Internet of Things space, the Altcoin Daily host highlights open-source public blockchain Helium Network (HNT), which recently surpassed the 450,000 hotspot milestone.

Arnold says of Helium,

“It is a quality [venture capital]-backed project.”

The altcoin is currently priced at $32.59, down 7.23% on the day.

Enterprise-grade scalable blockchain platform Elrond (EGLD) also makes the list of crypto assets to watch after acquiring Web3 payments provider UTRUST (UTK), which in turn integrated EGLD as a form of payment.

“Big win for EGLD.”

Elrond continues the overall daily downtrend and is off by 6.57% to $196.72.

Last on the Altcoin Daily docket is decentralized exchange platform dYdX (DYDX), which the host notes is aiming to achieve full decentralization by the end of this year.

Currently, dYdX is up 2.38% and changing hands for $7.81.

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Altcoin Breakout Imminent, Says Analyst Nicholas Merten: Here’s the Sector To Watch

by Dailyhodl

A popular crypto analyst says that altcoins are primed to surge and he’s eyeing one key sector that could see the biggest gains.

In a new strategy session, Nicholas Merten tells his 489,000 YouTube subscribers that although Bitcoin (BTC) looks somewhat stagnant, money isn’t moving out of the markets completely but instead shifting into altcoins. He’s particularly interested in seeing how much the decentralized finance (DeFi) sector can break out to the upside.

First on his radar for 2022 is the automated Ethereum-based crypto exchange Uniswap, and he looks at how native token UNI stacks up in its BTC trading pair UNI/BTC.

“One of the plays here that we’ve been big on is UNI. UNI’s basically recovered back to where it was against Bitcoin back here in October of 2021, and with this descending line of resistance [dating back to May of 2021], medium range of support here [0.0003219 BTC], we can see that we not only found support at a very critical level, previous support in the past [October of 2020], resistance in [January 2021].

It started to coil up here towards the resistance point and looks like it’s ready to really pop out higher and start to reclaim against some of these losses and continue moving higher.”

Source: Nicholas Merten/YouTube

Uniswap is up slightly on the day to $18.71 and has worked its way up from under $15 over the past two weeks.

Bitcoin remains mostly flat during the same time frame, although it did briefly recapture the $50,000 level over the Christmas weekend. BTC is currently trading for $46,795.

The DataDash host is also interested in fellow decentralized finance (DeFi) platform Aave (AAVE).

“What’s really exciting is if we take a look at AAVE as well. AAVE has been making some serious moves. About 70% here over the past couple of weeks.

We’ve come up here from around 346,000 satoshis, now pressing up close towards around 600,000 satoshis, around 580,000 at the moment.

Some pretty big breakouts against Bitcoin bringing it back to levels again not seen since as early as October of 2021, making up months of losses.

This is kind of the early sign of a further breakout to come for the general sector.”

Source: Nicholas Merten/YouTube

At time of writing, AAVE is up 2.47% on the day to $270.26.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Altcoin Supercycle Has Arrived, According to Analyst Nicholas Merten – Here Are 4 Crypto Assets To Watch

by Dailyhodl

A popular crypto analyst says that a supercycle for altcoins is here and he’s eyeing four crypto assets that could potentially rip higher for major gains.

In a new strategy session, Nicholas Merten tells his 489,000 YouTube subscribers that while king crypto Bitcoin (BTC) may seem a bit stagnant, enthusiasm for altcoin projects is likely to increase in a big way.

“My biggest focus here is that as we go further into the bull market, as we see in all bull markets in every single type of financial asset, such as stocks and commodities and forex markets, and specifically in a very creative and fast-paced environment like crypto, we are going to see more liquidity, more capital and more excitement go onto altcoin valuations… 

No matter where Bitcoin goes, altcoins are the focal point here.”

The DataDash host is interested in decentralized finance (DeFi) platform Aave (AAVE) which has seen a 63% rally against Bitcoin (AAVE/BTC) over the past 12 days.

“A major breakout in the sense of price here. And revisiting levels we haven’t seen as far back here as October 7th and the previous lows [0.005727 BTC] in June of 2021.

If we can clear through this range… that’s going to set the foundation for AAVE to probably have another seismic rally, the likes of which we saw back here in January as well as May of 2021.”

AAVE is currently up nearly 5% on the day to $288.43 and has been soaring from a weekly low of $180.83.

Merten is also looking at the Ethereum-based automated crypto exchange Uniswap (UNI), which he notes is also rallying nicely against BTC after a slow descent during the summer and fall months. He says UNI has the foundation to continue on for another breakout higher.

At time of writing, the price of UNI is up nearly 13% to $20.02.

The crypto analyst also examines Yearn.Finance, which soared recently after the project did a major buyback of its native token YFI.

“One of the fair-launch protocols in the crypto space, up 62%… just in the past 12 trading days.”

YFI continues its positive momentum, up 4.80% today and trading for $33,423.

Merten concludes his discussion with the developer-friendly, layer-1 DeFi protocol Radix (XRD).

“We’ve been able to make previous resistance new support, and since then over the past two weeks we’ve been able to go up from around $0.22 to $0.30.

Starting to pick up momentum for the next wave here. And we’ve seen that when Radix as an early-stage project breaks out, it breaks out big.“

Radix is starting the week with a flurry, up over 12% on the day to $0.32.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Community Voted, Why Uniswap Will Be Deployed On Polygon

by NEWSBTC

Popular decentralized automated market maker (AMM) Uniswap will deploy its smart contracts on Polygon, the Ethereum scaling solution, Proof-of-Stake (PoS) chain. The announcement was made via Twitter by the official handle of Uniswap Labs after the completion of a community vote.

Related Reading | Uniswap Community Reacts Against The New Proposal, Here is Why

The AMM will be rollout on Polygon on its third iteration (V3), per the initial proposal. The motion was passed with 72 million votes in favor and 503,009 against which suggest the proposal has wide acceptance within UNI holders.

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Presented on November 19th by Mihailo Bjelic, one of Polygon’s co-founders, claiming it’s “the right moment” to carry on this community driven initiative. Bjelic claimed Polygon has one of the “strongest DeFi ecosystem”, that the implementation could boost Uniswap’s user base, and promised users that they will incentive adoption to achieve that goal.

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As a scaling solution for Ethereum, Polygon can also provide users with a “battle-tested” and cost-efficient implementation of the popular AMM. In the DeFi ecosystem, Uniswap ruled supreme until high transaction fees price-out a large number of users from the protocol.

As Bjelic pointed out, other major Ethereum protocols have chosen Polygon as their preferred scaling solution. The co-founder mentioned Aave, Curve, SushiSwap, Balancer, and others while adding the following on the advantages of Polygon and its ecosystem:

Besides the impressive number of deployed projects, additional strength of Polygon’s DeFi ecosystem is that it is already self-sustainable. We effectively stopped all liquidity mining incentives some time ago, and yet we keep seeing capital and user inflow 25 and very high user retention 14.

Additional data provided by Bjelic claims that protocols deployed on Polygon experience an increase in their use base. After their implementation on this network, Aave reached 700,000 actives users, a 10x increase when compared to the same metric on Ethereum.

Uniswap And Polygon To Onboard Thousands Of New Users?

Of course, most users expect the implementation on Polygon to decrease the cost of usage for Uniswap. The co-founder of this scaling solution claimed that Aave also experienced a 16x increase in its user’s activity.

Bjelic further argued that the integration between Uniswap v3 and Polygon’s PoS will represent a comeback to the original “DeFi vision”. This sector was created to provide people with open, and inclusive financial solutions. He added:

DeFi is envisioned as an open, inclusive financial system, so deploying to Polygon (and other scaling solutions) can be considered as returning to this original vision.

Polygon will explore the possibility to commit around $20 million from their treasury to create liquidity incentives. The project abandoned this practice, but Bjelic claimed they are willing to resume for Uniswap due to its importance as one of the flagship DeFi protocols.

The funds will be distributed as follow: $15 million might be allocated for long term liquidity incentives and $5 million for a “special purpose DAO”. The goal of this organization will be to increase Uniswap adoption on Polygon.

Related Reading | Uniswap Labs Limits Access To Certain Tokens, What It Could Mean For The DeFi Sector

As of press time, UNI trades at $15,99 with 10.3% profits in the past day.

Uniswap UNI UNIUSDT
UNI trends to the upside in the 4-hour chart. Source: UNIUSDT Tradingview

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Bitcoin (BTC) $ 27,411.34 0.65%
Ethereum (ETH) $ 1,641.86 1.59%
Litecoin (LTC) $ 64.27 3.06%
Bitcoin Cash (BCH) $ 228.25 9.15%