[UNI-V2-DAI-USDT] MIP6 Collateral Onboarding Application for Uniswap V2 DAI-USDT LP Token
1. Who is the interested party for this collateral application?
2. Provide a brief high-level overview of the project, with a focus on the applying collateral token.
Uniswap is a decentralized protocol that allows for permissionless asset exchange and passive market making. Uniswap has been covered extensively in other collateral onboarding apps. Here are some links relevant to the specific pool
It is the also 3rd most liquid DAI swap (at least among semi reputable tokens) only after ETH and USDC
3. Provide a brief history of the project.
Uniswap was first deployed to the Ethereum mainnet on November 2, 2018. On May 18, 2020, Uniswap v2 was launched. Liquidity increased sharply beginning in late August when Sushiswap began incentivizing deposits. The UNI governance token was launched in September, partly in response to liquidity migrating to Sushiswap, and incentives helped Uniswap regain primacy in decentralized exchange liquidity.
Uniswap it is the 4th protocol by total value locked following DeFi Pulse
4. Link the whitepaper, documentation portals, and source code for the system(s) that interact with the proposed collateral, and all relevant Ethereum addresses. If the system is complex, schematic(s) are especially appreciated.
Source Code: https://github.com/Uniswap
UNI-V2-DAI-USDT token contract: https://etherscan.io/address/0xb20bd5d04be54f870d5c0d3ca85d82b34b836405#code
5. Link any available audits of the project. Both procedural and smart contract focused audits.
Audit report: https://uniswap.org/audit.html
6. Link to any active communities relating to your project.
7. How is the applying collateral type currently used?
UNI-V2-DAI-USDT LP tokens allow users to deposit equal values of the two constituent assets and earn trading fees proportional to their liquidity provided.
8. Does one organization bear legal responsibility for the collateral? What jurisdiction does that organization reside in?
Don’t really feel qualified to comment on the legalities of UNI-V2 tokens but from relevant collateral apps:
9. Where does exchange for the asset occur?
UNI-V2-DAI-USDT can be exchanged for its underlying constituents permissionlessly via the Uniswap v2 contracts and front end UI. DAI and USDT are traded on a wide variety of decentralized and centralized exchange venues.
10. (Optional) Has your project obtained any legal opinions or memoranda regarding the regulatory standing of the token or an explanation of the same from the perspective of any jurisdiction? If so, those materials should be provided for community review.
I am not aware of any publicly available legal opinions addressing the project or token’s regulatory standing.
12. (Optional) List any possible oracle data sources for the proposed Collateral type.
UNI-V2-DAI-USDT value can be determined based on the value of underlying assets.
The existing USDT oracle can likely be used to determine the value of USDT within the pair. MIP10c3-SP6 Proposal: USDTUSD Oracle (Collateral Onboarding Oracle Assessment)
13. (Optional) List any parties interested in taking part in liquidations for the proposed Collateral type.