The largest decentralized exchange (dex) platform, in terms of
trade volume, Uniswap has revealed the dex has removed a number of
tokens from the platform interface. The community assumes the tokens
could be deemed securities by global regulators. Uniswap users can still
swap these tokens via accessing specific smart contracts themselves, as
the company behind the platform, Uniswap Labs, simply removed the
tokens from the main interface.
Uniswap Removes Tokens From Main Interface, Users Discuss Alternative Solutions
On July 23, the startup Uniswap Labs announced that the development team was removing roughly 129 tokens
from the main interface. It’s been noted by onlookers, that a number of
tokens removed could be considered securities by global regulators and
some of them were synthetic equities tokens.
The restriction of access to these specific tokens stems from
app.uniswap.org but users can still bypass the problem and trade using
the token contract. The token removal announcement from Uniswap Labs doesn’t really explain why the tokens were removed but the firm’s blog post did say:
These tokens have always represented a very small portion of overall volume on the Uniswap Protocol.
Some of these tokens derived from protocols such as Synthetix,
Tether, Opyn, UMA, and more. A Twitter user named “Banteg” discussed the
issue at hand and said:
“Seems like all UMA, Synthetix, Mirror, Opyn tokens are affected. Even
if you add them manually, you cannot trade them on the main [Uniswap]
UI.” However, within Banteg’s Twitter thread the crypto community shared a myriad of ways to bypass Uniswap’s main user interface.
Defi Proponent: ‘This Is a Wake-up Call — Bookmark Decentralized Interfaces’
A number of crypto supporters criticized the move made by Uniswap and
they believe other decentralized finance (defi) platforms could do the
same. Joey Krug, the co-CIO of Pantera Capital and co-founder of Augur tweeted
that he loves Uniswap “but this sets [a] really bad precedent IMO.”
Krug also added that this “won’t be the 1st case of defi censorship.”
Defi supporter Nick Chong said that people should start bookmarking
decentralized interfaces and mirror applications. Chong added:
The world needs decentralized interfaces. Wouldn’t it
have been bad if all non-power user defi traders woke up one day and the
Uniswap Labs interface was gone w/ no alternatives? This is a wake-up
call. Bookmark the decentralized interfaces. Make them lindy.
The creator of the popular defi project Yearn Finance, Andre Cronje
also offered his opinion of the Uniswap situation. “My unsolicited
opinion; Uniswap, a company registered in the U.S. Uniswap.org, a
website owned by the U.S. entity. Uniswap smart contracts, decentralized
code. The company should act in its best interest, including censoring
the website where it is in their interest,” Cronje said.
source link : https://news.bitcoin.com/users-criticize-uniswaps-decision-remove-100-tokens-main-interface/
