To comply with the evolving regulatory landscape, Uniswap Labs decided to restrict access to over 100 tokens through the Uniswap web portal. The developers indicate that the DeFi protocol remains decentralized, autonomous, and permissionless.
Uniswap Labs, the company responsible for the development of Uniswap, the decentralized exchange (DEX) most popular in the crypto space, published a release reporting that it had restricted access to several tokens via the web app.uniswap.org due to regulatory concerns.
The company stated that Uniswap has always been concerned with offering accessible and trustless interaction in the crypto industry, but that the current regulatory landscape is prompting companies in the crypto space to maintain greater caution. Despite its decision to suspend access to certain tokens through its web portal, Uniswap’s DEX protocol remains completely decentralized, autonomous, and permissionless, Uniswap Labs stated.
La list The company's posting of suspended tokens from the website shows that a large portion of these correspond to stock tokens and tokenized derivatives. Other digital assets, such as synthetic Bitcoin (sBTC), were also suspended at the website level.
It may interest you: Token swaps are now available on CoinMarketCap with Uniswap
The influence of regulators in the crypto space
Uniswap Labs reported that the tokens restricted through its web portal represent a small portion of the total volume of tokens traded on the platform. On the other hand, these same tokens will continue to be available for users who want to trade them through the DEX. Likewise, the developers assure that the DeFi protocol will continue to integrate the tokens that users prefer to exchange through the protocol.
Uniswap Labs’ publication comes as regulators are putting increased pressure on cryptocurrency companies.
Recently, Gary Gensler, Chairman of the United States Securities and Exchange Commission (SEC), Indian that stock tokens from centralized or decentralized platforms will have to comply with the country's federal securities laws. On the other hand, the exchange de cryptocurrencies, The world's largest exchange, Binance, suspended the trading and trading of equity tokens from its platform globally amid increased regulatory scrutiny.
The blocking of tokens on the Uniswap website did not sit well with several users in the crypto community, who see the restriction as an attack on innovation and a new case of censorship in the industry.
Uniswap, more than $7.000 billion per week
Uniswap is the most used DEX in the cryptocurrency industry, moving a trading volume of around $7.900 billion weekly. According to data from Dune AnalyticsUniswap manages 62% of all money volume moving through decentralized exchange platforms.
Trading volume on DeFi DEXs. Source: Dune Analytics
Source: Dune Analytics
The liquidity of this protocol has also grown significantly so far this year. Although Aave It is the protocol that leads the ecosystem of decentralized finance (DeFi) Currently, Uniswap has seen over 300% growth in its total liquidity since January. At the time of writing, Uniswap holds a total value locked (TVL) of 5.460 million.
Its governance token, UNI, has also appreciated significantly this year, showing growth of over 440% at its current valuation. The price of this token reached an all-time high of $44,9 per unit in May, although at the time of writing it is trading near $XNUMX. $19.
Continue reading: Uniswap V3 hits the Ethereum mainnet
