[UNI] MIP6 Collateral Onboarding Application

1. Who is the interested party for this collateral application?

@jtathmann – Maker community member and simple farmer

2. Provide a brief high-level overview of the project, with a focus on the applying collateral token

Uniswap is a automated market maker protocol for exchanging ERC-20 tokens on Ethereum. It eliminates trusted intermediaries and allows anyone to create a market. UNI is the native token of the Uniswap protocol, and it entitles its holders to governance rights.

3. Provide a brief history of the project.

Uniswap was created by Hayden Adams and v1 was launched on mainnet November 2018. Seen as a public good and vital DeFi infrastructure, the protocol has grown to be one of the highest used applications on Ethereum. There are over 11,000 token pairs, $2 billion in total liquidity, and over 100 DeFi integrations. The UNI token was launched with one billion minted at genesis, a portion of which was distributed to the community. The distribution and vesting schedule is as follows:

4. Link the whitepaper, documentation portals, and source code for the system(s) that interact with the proposed collateral, and all relevant Ethereum addresses.


UNI Token Blog post

Uniswap Documents


UNI Token address - 0x1f9840a85d5af5bf1d1762f925bdaddc4201f984

Governance - 0x5e4be8Bc9637f0EAA1A755019e06A68ce081D58F

5. Link any available audits of the project. Both procedural and smart contract focused audits.

Uniswap V2 Audit

6. Link to any active communities relating to your project.

Governance Forum


7. How is the applying collateral type currently used?

Currently used as a governance token with ownership over the protocol, community treasury, and fee switch. The community treasury consists of vested UNI, which is earmarked to fund contributor grants, community initiatives, and liquidity mining.

8. Does one organization bear legal responsibility for the collateral? What jurisdiction does that organization reside in?

Uniswap has offices in New York City

9. Where does exchange for the asset occur?

UNI was widely distrubted at launch and is exchanged on major centralized exchanges such as Binance, Coinbase, and Gemini as well as decentralized exchanges.

*Disclosure: I own UNI tokens (and you probably do too :upside_down_face:)



Could you elaborate more on how is UNI token related to Uniswap fees, and where does UNI get its value from?

It’s unclear to me if UNI has any value apart securing a vote in Uniswap governance.

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There is a fees on add and remove liquidity. You can check out the contract.

Also there is a fees on top of the main contract that can be added if you use the router v2.

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My understanding is that fees are paid in the pooled asset. One will receive ETH and USDC for his participation on the ETH/USDC liquidity pool.

There was UNI rewards for participation in some liquidity pools, but this is over.

They get supporting fees here : https://github.com/Uniswap/uniswap-v2-periphery/blob/master/contracts/UniswapV2Router02.sol#L339

and they can turn-on fees on add/remove liquidity here : https://github.com/Uniswap/uniswap-v2-core/blob/master/contracts/UniswapV2Pair.sol#L89

Tho I don’t think they will turn it on, I believe it is here to prevent eventual liquidity attack.