We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now


It looks like you aren't logged in.
Click the button below to log in and view your recent history.

UNIUSD Uniswap

0.060 (1.36%)
18:43:07 - Realtime Data
Name Symbol Market Market Cap ($) Algorithm
Uniswap UNIUSD Crypto 3,361,799,335 Not Mineable
  Price Change Price Change % Current Price Bid Price Offer
  0.060 1.36% 4.46 6.17 6.17
High Price Low Price Open Price Prev. Close 52 Week Range
4.47 4.39 4.40 4.40 3.55 - 8.03
Exchange Last Trade Size Trade Price Currency
GDAX 18:43:07 0.030420 4.46 USD
Price x Volume Volume Base Symbol Related Pairs
372,245.00 83,778.50 UNI UNIEUR UNIGBP UNIBTC

Uniswap Founder Says Banks Are Massive Scams

13/03/2023 5:30pm


Hayden Adams, the founder of Uniswap, is convinced that banks are “massive scams” compared to decentralized finance (DeFi) protocols. Hayden Adams Thinks Banks Are Scams In a recent tweet, Adams criticized banks’ low collateral requirement, adding that they also pay only a “tiny percent” of their revenue to depositors. The founder was also concerned about banks’ ability to “rug” users anytime. If you compare banks to DeFi protocols you realize what a massive scam they are Only 10% collateral requirements? Only a tiny fraction of returns paid out to users? Users can get rugged at any time? Feeling bad for everyone negatively affected by degen banks 🙁 — hayden.eth 🦄 (@haydenzadams) March 11, 2023 Commercial banks are regulated entities. In the United States, they can comply with state or federal laws depending on their licenses.  Related Reading: Over 167 Million BAT Utilized In DeFi Mainly In Compound, Aave And Uniswap But considering the fractional reserve system, banks must maintain a certain percentage of user deposits as collateral. Accordingly, deposits may have to wait longer in case of a bank run, a spike in customers’ withdrawal which drains the financial institution’s liquidity.  The 10% collateral requirement means only a small percentage of the total deposits are available for withdrawal. Hayden believes this system is flawed. In crypto and DeFi, the mechanism is different; for instance, they must maintain 100% collateral at any point.  Banks loan the remaining 90% of deposits in this fractional reserve system at higher interest rates. However, the yield distributed to holders of saving accounts is relatively lower. While this is advantageous for banks as they don’t have to hold a vast amount of capital while also being open for regulation, the end user, the depositor, is inconvenienced if these banks fail. Last week, Silicon Valley Bank (SVB) experienced a bank run last week, and it was placed under California regulators’ Federal Deposit Insurance Corporation (FDIC) receivership. Many users and businesses, including Circle, the issuer of the fiat-backed stablecoin, USDC, had exposure and couldn’t access funds over the weekend.  It is this limitation, and the fragility of banks that Hayden thinks make the very base layer of the global financial system a “massive scam.” The United States Federal Reserve has since stated that it will only bail out depositors, not the bank. Uniswap Drew Users After USDC De-Pegging DeFi protocols are autonomous and guided by smart contracts. Platforms like Uniswap operate every day of the week on several blockchains, including Ethereum, facilitating swaps.  Related Reading: DeFiLlama Releases Special Uniswap v3 Router For Optimism Over the years, Uniswap has emerged as one of the largest decentralized exchanges in the world. UNI is its governance token. Amid the de-pegging of USDC, Uniswap posted the highest daily trading volume, reaching $11.41 billion. Yesterday had the highest daily USD volume ever on the @Uniswap Protocol! $11.84b, almost double the second place day.@DuneAnalytics: https://t.co/KMQxfmlIlo pic.twitter.com/pn9X9yBNHq — Austin Adams (@AustinAdams10) March 12, 2023 As of writing on March 13, Uniswap had a total value locked (TVL) of $3.56 billion, according to data from DeFiLlama.  Feature Image From Justin Sullivan/Getty Images, Chart From TradingView

1 Year Uniswap Chart

1 Year Uniswap Chart

1 Month Uniswap Chart

1 Month Uniswap Chart
Your Recent History
Register now to watch these stocks streaming on the ADVFN Monitor.

Monitor lets you view up to 110 of your favourite stocks at once and is completely free to use.

Log in to ADVFN
Register Now

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

Support: +44 (0) 203 8794 460 | support@advfn.com

V: gb D: 20230930 17:44:50