Uniswap Founder Reveals Sophisticated Scam Targeting the Chinese Community

Uniswap’s founder, Hayden Adams, recently took to Twitter to expose an elaborate scam targeting the Chinese cryptocurrency community. The scam involves a fake fork of the Uniswap website and purportedly features a one-hour Zoom recording with individuals impersonating Uniswap executives.

Adams clarified that neither he nor any official representatives from Uniswap or the Uniswap Foundation had any connection to the suspicious activities unfolding on the platform. “Video is nuts. No idea who any of those people are. Def not associated with @Uniswap or @UniswapFND. Assuming it’s some sort of scam,” he tweeted.

In a subsequent tweet, the Uniswap founder outlined the extent of the effort put into the scam. “Some next level effort went into this scam. They built a fork of our website (domain takedown pending) that adds Chinese community content and links to the real Uniswap app. And did an hour long zoom recording with real fake Uniswap execs,” Adams noted.

While details about the full extent of the scam are still coming to light, it appears that the perpetrators went to great lengths to lend credibility to their actions. They not only created a replica of the Uniswap website but also added Chinese-specific content, targeting one of the world’s most significant cryptocurrency markets.

Furthermore, by linking to the actual Uniswap app, the scammers likely intended to give the appearance of legitimacy to unsuspecting users. This kind of scam, often referred to as phishing, aims to trick individuals into providing sensitive information or transferring assets under false pretenses.

Uniswap and its founder have now alerted the community and are reportedly taking necessary actions to tackle the scam, including domain takedown proceedings. Cryptocurrency users are urged to be cautious when interacting with unverified platforms or persons claiming to represent established entities.


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Uniswap to Join the Polkadot Ecosystem via Moonbeam Network, Bolstering Liquidity and Volume

According to a recent series of tweets by Polkadot, Uniswap, the most widely used decentralized exchange (DEX) based on daily traded volume, is set to make its debut in the Polkadot ecosystem via the Moonbeam Network parachain. This integration is anticipated to significantly enhance liquidity and trading volume across the ecosystem.

Uniswap offers users a trustless, permissionless, and non-custodial method to access a broad range of tokens. Its entrance to the Polkadot ecosystem propels forward the development of a novel universe of decentralized financial (DeFi) products and services on Polkadot.

Oelassar, Global Head of Growth & Business Development at Parity Tech, commented on the development. “Polkadot is a strong fit for Uniswap, whose users can discover the network’s high performance, scalability, security, and interoperability. Polkadot’s DeFi ecosystem benefits from a marquee name in the space.”

Moonbeam, a layer-1 Polkadot parachain, enables full Ethereum Virtual Machine (EVM) compatibility, native interoperability, and prioritizes secure cross-chain integration solutions. Over the last year, the network has reported significant user growth.

The initiative to bring Uniswap to Polkadot and Moonbeam has been led by the University of Michigan Blockchain group. This proposal has successfully passed through Moonbeam’s governance process today, with robust community support. Upon activation, all parachains within the Polkadot ecosystem will have immediate access to Uniswap.

This development marks a significant milestone for Polkadot as it continues to foster innovation and inclusivity in the blockchain industry. By welcoming Uniswap, one of the flagship platforms in the DeFi space, Polkadot is further positioning itself as a leading hub for decentralized finance, ensuring its users have access to the most advanced and diverse range of DeFi services.


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Biden’s Communications Director Restricted From Handling Crypto Firms

US President Joe Biden’s communications director, Ben LaBolt, will reportedly be restricted from handling matters related to any cryptocurrency or technology firms he previously represented, according to an April 22 Bloomberg Law report. However, he will be allowed to advise on the president’s approach to regulating cryptocurrency and social media companies.

LaBolt was previously a partner at Bully Pulpit Interactive (BPI), a communications firm that had 23 clients paying fees exceeding $5,000 in a year. These clients included decentralized exchange UniSwap, venture capital firm Andressen Horowitz, and companies such as Meta Platforms, Shopify, and West Street.

In a public financial disclosure report published on April 21, LaBolt disclosed owning $50,001-$100,000 in Bitcoin and $15,001-$50,000 in Ethereum 2. However, he will be barred from “participating in legal matters, investigations, or contracts involving cryptocurrency or technology firms he previously represented.”

These restrictions are in line with the ethics rules followed by senior White House staff. Despite the restrictions, LaBolt will be allowed to advise on crypto regulation.

This move comes after Biden signed an executive order (EO) on digital assets on March 9. The EO outlined an interagency process that will involve 16 high officials, initially starting with the task of producing an elaborate series of reports. These reports are due at intervals ranging from 90 days to over a year from the publication of the EO.

While the EO did not specify any regulatory actions, it attracted attention from government officials and industry leaders alike. Republican “Crypto Senator” Cynthia Loomis of Wyoming praised the administration’s growing interest in digital assets.

Ari Redborn, head of legal and government affairs for blockchain-based intelligence firm TRM Labs, said that he was “expecting certain things and the positive tone was not necessarily one of them.”

The move to restrict LaBolt’s handling of matters related to crypto firms may be seen as a way to ensure ethical behavior in the White House. This move is in line with the Biden administration’s focus on transparency and ethical governance.

It is worth noting that this move may also affect LaBolt’s former clients, such as UniSwap and Andressen Horowitz. It remains to be seen how this move will affect their business dealings with the White House.

Overall, this move highlights the growing interest in crypto regulation by the Biden administration. With the interagency process set in motion by the EO, it is likely that the US government will take a more active role in regulating the crypto industry.


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Uniswap to Launch on Polygon’s zkEVM

Polygon’s zero-knowledge Ethereum Virtual Machine (zkEVM) roll-up solution is going to be used for the launch of Uniswap, which is one of the most well-known decentralized exchanges (DEX) built on the Ethereum blockchain. All 191 Ethereum addresses cast their ballots in support of the integration, which means that the proposal has already surpassed the barrier of 40 million votes that was needed for acceptance.

Polygon is a scaling solution provider that was originally known as Matic Network. Their mission is to make it simpler for developers to construct decentralized apps (dApps) on the Ethereum network using their technology. Its zkEVM roll-up approach aims to increase Ethereum’s scalability, security, and usability, while also lowering the prices of transactions.

It is anticipated that the incorporation of Uniswap onto Polygon’s zkEVM will confer major advantages onto both of those platforms. Uniswap, which has been experiencing difficulties on the Ethereum mainnet due to high gas prices and poor transaction times, will be able to use Polygon’s scaling solution in order to provide its customers with transactions that are both quicker and less expensive. In the meanwhile, Polygon will profit from the increased adoption and liquidity that Uniswap delivers to its network thanks to the addition of Uniswap.

The Uniswap proposal to launch on Polygon’s zkEVM was first presented in March 2021, and tokenholders were given until April 14 at 9:05 pm UTC to vote on the proposal. Uniswap is a decentralized exchange (DEX) that allows users to buy and sell digital assets. However, the need for approval, which was 40 million votes, was already met long before the deadline, and over 42.4 million votes were registered in support of the merger.

According to Tally, a voting dashboard for decentralized finance projects, the Ethereum infrastructure provider ConsenSys and the financial modeling platform Gauntlet were among the top donors to the vote, both with over 7 million votes.

It is anticipated that the successful integration of Uniswap on Polygon’s zkEVM would further accelerate the expansion of decentralized finance (DeFi) on both platforms, in addition to the expansion of the Ethereum ecosystem as a whole. Ethereum is positioned to emerge as a more feasible and appealing platform for the development of decentralized apps in the years to come as a result of the proliferation of blockchain scaling solutions such as Polygon.


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Uniswap V3 Protocol License Expires, Allowing Developers to Fork Code

Uniswap, the biggest automated market maker in the decentralized finance (DeFi) space, has opened up its code for developers to fork after the expiration of its Business Source License (BSL) on April 1, according to the protocol’s documentation. The two-year BSL license was created to protect the author’s right to profit from their creations, preventing the code from being used for commercial purposes. The expiration of the BSL license now allows developers to deploy their own decentralized exchange (DEX) using the Uniswap V3 protocol.

Uniswap V3’s new license, the “General Public License,” now applies to the protocol. Developers who want to fork the code will need to use an “Additional Use Grant,” which is a production exemption that is meant to accommodate the needs of both open-source and commercial developers.

Uniswap is widely used by traders, token creators, and liquidity providers in the DeFi space for swapping tokens. Its native token, UNI, is popular among investors looking to gain exposure to the DeFi market. Earlier this month, Uniswap officially went live on the BNB Chain, Binance’s smart contract blockchain, after over 55 million UNI tokenholders voted in favor of a governance proposal by 0x Plasma Labs to deploy the protocol on the BNB Chain. This move allows Uniswap users to access BNB Chain’s ecosystem for trading and swapping tokens, as well as tap into a liquidity pool with BNB Chain’s DeFi developer community.

Uniswap’s decision to make its code available for forking is significant for the DeFi ecosystem, as it allows developers to create new and innovative DEXs that can integrate with the Uniswap V3 protocol. This move is expected to result in a proliferation of DEXs, each with its own unique features, contributing to the growth and maturity of the DeFi space.

While the expiration of the BSL license is a welcome development for developers, it also underscores the need for blockchain projects to carefully consider the licenses they choose to use. The BSL license has been criticized by some in the open-source community for its restrictive nature, and it remains to be seen whether other projects will follow Uniswap’s lead in using the license. Nonetheless, the expiration of the BSL license is a positive development for the Uniswap community, as it opens up new avenues for innovation and growth.


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Airdrop Hunters Consolidate Millions Worth of ARB Tokens

Arbitrum, a layer-2 scaling solution for Ethereum, recently launched an airdrop campaign for its native token, ARB, causing a frenzy among cryptocurrency enthusiasts. On-chain activity showed that some airdrop hunters were particularly successful in accumulating a substantial amount of ARB tokens worth millions of dollars.

According to LookIntoChain, a blockchain analysis platform, two wallets consolidated tokens from 1,496 wallets, collectively holding around $3.3 million worth of ARB. One of the wallets received 1.4 million ARB from 866 addresses and added all the tokens to Uniswap, a decentralized exchange, to provide liquidity. The other wallet received 933,375 ARB from 630 addresses.

Community members were curious about the identities behind the wallets and formulated their own theories. Some believed that the airdrop hunters were team members of the project, while others speculated that they might be hackers. A few members also expressed concerns about the potential impact on transaction volumes.

Despite the mixed reactions, some praised the airdrop hunters for their efforts, calling them names like “airdrop god.” Others believed that the hunters spent significant time and capital farming the numbers to accumulate such a large amount of tokens.

The hype around the ARB airdrop also spilled over into the over-the-counter (OTC) markets, where eligible crypto users started selling their tokens soon after the announcement. This indicates a strong demand for the token in the market.

However, the airdrop craze also attracted the attention of hackers. On March 24, some hacked vanity wallet addresses were used to steal $500,000 worth of ARB tokens from eligible airdrop participants, raising concerns about security risks in airdrop campaigns.

In conclusion, the ARB airdrop campaign generated significant attention from the cryptocurrency community, with some successful airdrop hunters consolidating millions of dollars worth of tokens. While the campaign was successful in attracting new users and creating hype, it also exposed potential risks associated with airdrop campaigns, such as security vulnerabilities and market volatility.


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Uniswap Officially Live on BNB Chain

Decentralized exchange Uniswap has now officially launched on BNB Chain, the smart contract blockchain platform created by Binance, following a successful governance proposal. This marks a significant milestone in the growth and adoption of decentralized finance (DeFi) within the cryptocurrency ecosystem.

Back in February, more than 55 million Uniswap (UNI) token holders voted in favor of a governance proposal initiated by 0x Plasma Labs to deploy Uniswap v3 on BNB Chain. The proposal was driven by the need for Uniswap to expand its reach and potentially drive further growth and adoption of DeFi. Prior to this event, Wormhole was chosen as the protocol’s designated bridge to BNB Chain in a Temperature Check vote. This process was undertaken to gauge the level of interest in making changes to the existing status quo.

According to the official announcement, Uniswap’s expansion to BNB Chain presents several advantages, including user growth, lower fees, and tapping into new geographical markets. Furthermore, the move to BNB Chain will bolster the Uniswap Protocol’s ability to serve users within the Web3 space, marking a significant step towards increasing accessibility and liquidity for its user base.

Uniswap Protocol users can now leverage the BNB Chain ecosystem to trade and swap tokens across the network. The integration also enables Uniswap to access a pool of liquidity within BNB Chain’s decentralized finance (DeFi) developer community, which could lead to increased awareness and adoption among both retail and institutional investors.

The announcement highlights that the launch aligns with the DeFi industry’s requirement for greater accessibility and cross-blockchain compatibility. Both Uniswap and BNB Chain are expected to experience further growth as a result of this collaboration.

Uniswap is a decentralized exchange built on the Ethereum blockchain, which allows users to trade various cryptocurrencies without the need for a centralized authority. Binance is one of the largest cryptocurrency exchanges in the world, known for offering a wide range of digital assets for trading. The launch of Uniswap on BNB Chain signifies a convergence of two major players in the cryptocurrency space, potentially benefiting both platforms and their users.

As the cryptocurrency ecosystem continues to evolve, the integration of Uniswap with BNB Chain could serve as a catalyst for further innovation and growth within the DeFi space, providing users with more options and opportunities for managing their digital assets.


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Total value locked in Ethereum-based Decentralized exchange

The Uniswap community cast their votes in support of implementing Uniswap v3 on Boba Network’s layer-2 protocol on Ethereum, and the majority of those votes were positive.

The proposal to implement Uniswap v3 on Boba Network that was put up by Boba Foundation and FranklinDAO was successful since it received more than 51 million votes. As a result of this, the Boba Network will become the sixth chain to instal Uniswap v3, with the deployment itself being slated to begin within the next few weeks. This action received support from a number of organisations, including GFX Labs, Blockchain at Michigan, Gauntlet, and ConsenSys.

According to Alan Chiu, co-founder and CEO of Enya Labs, which is a core contributor to Boba Network, this move will enable developers within the ecosystem to create a new generation of on- and off-chain decentralised finance (DeFi) applications on top of Uniswap. Chiu stated this information in an interview with Boba Network. Chiu provided an explanation, saying, “While the Uniswap protocol will remain permissionless, developers will be able to create a compliance layer over it that utilises Hybrid Compute to access current TradFi-friendly KYC/AML services.”

Chiu pointed out that as a direct consequence of this, the decentralised exchange will become more accessible to the whole institutional market. Additionally, the team at Boba Network believes that this presents an opportunity for Uniswap to expand into the key Asian markets. This is due to the fact that Boba Network has gained a lot of traction in South Korea and is slowly expanding to Japan. Uniswap is currently in the process of expanding into Japan.

In related news, a research from DappRadar uncovered the fact that DeFi is off to a strong start in 2023. According to information obtained from the statistics site, DeFi protocols had a considerable increase in their total value frozen in the month of January.


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Venture capital firm Andreessen Horowitz voted against a Uniswap proposal

Andreessen Horowitz (a16z), a venture capital company, allegedly engaged in a vote that was cast against a final proposal to instal Uniswap v3 on the BNB Chain by making use of the Wormhole bridge, as stated by the Uniswap DAO forum. This information was taken from the forum where it was posted.

On February 2, 0xPlasma Labs submitted a governance request on behalf of the Uniswap Community asking for permission to deploy the most current version of Uniswap on the BNB Chain. This request was made by 0xPlasma Labs. During the preliminary vote on the proposal, there were 20 million votes cast in favour of it, which is equivalent to 80.28 percent of the total, and 4.9 million votes were against it (19.72 percent of the total). On February 5th, the venture capital business used its 15 million UNI holding to cast a vote against the resolution. This action was taken in opposition to the move. The motion that was made was in direct opposition to the action that was executed.

Although there had been a total of 23.4 million votes cast previous to the publishing of this article, just 3% of all UNI tokens had engaged in the voting process at that point in time. This was despite the fact that there had been a total of 23.4 million votes cast. According to the schedule, the final day that voters will be able to cast their votes will be on February 10th. This day marks the end of the voting period.

The disagreement stems from the fact that a cross-chain bridge wasn’t properly planned for before the deployment was carried out, which is the primary source of the problem. The Wormhole bridge is used inside the framework of the proposal, and a16z offers support for the incorporation of LayerZero as the interoperability protocol. In the paragraphs that follow, consideration will be given to each of these facets in more depth.


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Uniswap v3 Protocol to Be Deploy to BNB Chain

On the governance forum for Uniswap, a proposal referred to as a “temperature check” that would deploy the Uniswap v3 protocol to BNB Chain garnered overwhelming approval from the community.

Eighty percent of voters who possess Uniswap’s UNI (UNI) governance token voted in support of installing the third version of the decentralised exchange protocol on BNB Chain, which is a competitor of Ethereum’s network. This vote was carried out by voters who own UNI.

Ilia Maksimenka, CEO of the decentralised finance protocol Plasma Finance, argued why the Uniswap v3 protocol should be deployed to BNB Chain in a proposal that was posted on January 17. In the proposal, Ilia Maksimenka wrote: “We believe this is the right moment for Uniswap to deploy on BNB PoS Chain, for many reasons (one of them is License expiration).”

Following the debate on the governance forum, the Uniswap community carried out a poll known as a “temperature check” in order to determine whether or not the community was in favour of the proposed change.

Eighty percent of those who voted thought that the deployment should go place, while twenty percent said that it should not.

The blockchain software company ConsenSys expressed their approval of the action.

Despite worries over centralization, the company ConsenSys considers the brand of the protocol as “standalone and not subject to any single chain,” according to Cameron O’Donnell, who serves as the DAO governance strategist for ConsenSys.

O’Donnell provided the following explanation: “Regardless of personal viewpoints, the entry of Uniswap into the BSC market will give present and prospective users with a safe and stable means for decentralised exchange.”

Additionally, the ConsenSys executive said that the company feels that it is essential for Uniswap to be “chain agnostic” in order to better serve all customers within the Web3 environment. This was stated in reference to a previous statement made by the executive. After the governance proposal has been accepted, the Plasma Finance team estimates that it will take between five and seven weeks to deploy the appropriate smart contracts to BNB Chain. This will be place after the governance proposal has been accepted.

On December 22, the number of unique addresses on the BNB Chain network exceeded that of the Ethereum network.

The data from BSC Scan revealed that the blockchain included 233 million addresses, which is much more than Ethereum’s count of 217 million unique addresses.

Despite the fact that this chain claims to be “the biggest tier 1 blockchain,” its statistics are a long cry from the one billion unique addresses that the Bitcoin network has.

Update: A portion of the article has been modified to highlight that the proposal in issue is to assess the community’s interest in adopting BNB Chain for v3 protocol deployment. This particular vote is the first of three votes that are necessary to approve a governance proposal.


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