Uniswap, a fully decentralized protocol for automated liquidity provision on Ethereum, has announced Token Lists, a new standard for creating lists of ERC20 tokens.
According to reports, Token List is an initiative from the Uniswap community aimed at improving discoverability and confidence in ERC20 token lists. The initiative will also be carried out in an inclusive, transparent, and decentralized way.
🦄We are excited to announce Token Lists, a new standard for creating lists of ERC20 tokens. This is a community initiative to improve discoverability and trust in ERC20 token lists in a manner that is inclusive, transparent, and decentralized.
Read more:https://t.co/iwQL3jojD9
— Uniswap Protocol 🦄 (@UniswapProtocol) August 26, 2020
Accordingly, the new initiative follows a standard JSON schema and there is the possibility of hosting publicly on ENS, IPFS, and HTTPS.
The launch will primarily include:
- An ERC20 token list standard
- A homepage and list browser at tokenlists.org
- A community forum at community.tokenlists.org
There will also be lists from crypto platforms like CoinMarketCap, CoinGecko, Dharma, Zerion, Kleros TCR, and Defiprime. Other sources will include platforms such as Compound, Aave, Synthetix, UMA, 1inch, and Roll.
At the moment, the Token Lists can be used in the Uniswap Interface. Therefore, this eliminates the need for a default list. Uniswap also mentioned plans for more collaborations, saying, “We hope to continue iterating and improving Token Lists in collaboration with the broader community.”
Additional information
Token Lists can be used for filtering, trust scores, scam prevention, and more.
With Token Lists, Uniswap wants projects to be able to share public infrastructure and the ease of interoperability between them. Projects on Ethereum that want to part of this initiative will host a list of ERC20 tokens publicly and will follow the standard JSON schema. Another important aspect is that by hosting such lists on their own domains, such projects are tying their reputation to the endeavor.
Additionally, another advantage of the lists is the speed at which the new assets can be included. If a new asset is launched by a project, then the project can revise their own list, and any interface subscribed to that list will be automatically imported to it in real-time.
What can I expect from Uniswap?
Uniswap processes about $200-$300M of volume daily. Last month, they raised $11M in Series A funding led by Andreessen Horowitz. Additional investments came from the following entities: Paradigm, SV Angel, Parafi Capital, Variant, Version One, A.Capital, and USV. The goal of the investment is creating Uniswap V3.
Additionally, there are speculations concerning plans for Uniswap to release their own token.
About Uniswap
Hayden Adams created the Uniswap decentralized protocol. He reportedly got the inspiration from a post by Ethereum founder Vitalik Buterin.
The decentralized protocol is built on Ethereum for trading ERC20 tokens. This decentralized cryptocurrency exchange is designed to function as a tool for the community to trade tokens without centralized platform fees or middlemen, which is unlike most exchanges.
Notably, the system uses a math equation, pools of tokens, and ETH to determine prices and execute trades. This is distinct from the regular exchanges that match buyers and sellers.
Previously, we covered how Uniswap is revolutionizing cryptocurrency exchanges.
