Official: NFT live on Uniwsap!

NFTs is officially alive Uniswap. Since yesterday, it has actually been possible for users to trade NFTs on major markets to find more listings and better prices.

To celebrate NFTs on Uniswap, the decentralized smart contract based exchange running on Ethereum the network retransmits 5 million USDC to some longtime Genie users. It also offers gas discounts to the first 22,000 NFT users.

Uniswap continues to be open source, reliable and self-sustaining, staying true to its values ​​of decentralization.

NFTs on Uniwsap: all the changes are coming

There are many changes and benefits that the ecosystem of non-fungible tokens will experience when NFTs are launched Uniswap.

First among them is greater interaction between NFTs and ERC-20 tokens, two ecosystems that, as we know, have largely existed separately within cryptocurrencies. However, both are important to growing the digital economy.

Launch of NFTs on Uniswap is, in this sense, the first step in creating more interoperable experiences between the two ecosystems.

Second, first-class experience on Uniswap will be offered to users with the creation of the aggregator: better prices, faster indexing, more secure smart contracts and efficient execution.

In fact, aggregators are able to offer better prices as they combine multiple marketplace listings into a single interface. At launch, Uniswap will support Open seaX2Y2, LooksRare, SudoswapLarva Labs, X2Y2, FoundationNFT20 and NFTX.

In addition, there will be more gas savings. Specifically, Uniswap’s aggregators, powered by the new open source universal router contract, will save up to 15% on gas costs compared to other NFT aggregators when buying across multiple marketplaces.

In addition, Uniswap continues to be reliable, transparent and open source: the same design principles are carried over to NFTs and the front-end code is open source, so Uniswap is the first major NFT platform to achieve such a milestone.

Issuing USDC to Genie users

As expected, Uniswap distributes around 5 million USDC to an existing operator Genius users to show their appreciation to longtime users and welcome them into the Uniswap community.

Based on a snapshot taken in April, the exchange platform created two different tiers for recipients. The first, the $300 level, is available for wallets that have completed more than one transaction prior to the snapshot.

The other, the $1000 level, is available for wallets that contained Genie-Genesis NFT from the snapshot. Users are eligible with unique address, which means that multiple Genie-Genesis NFTs in the same wallet are only eligible once.

Also, users are eligible for both tiers and can apply for the USDC airdrop at app.uniswap.org for the next 12 months.

Uniswap’s proposed gas discount at the launch of NFTs

To welcome the new users, Uniswap has launched a gas discount promotion that ends on 14 December 2022 and can be claimed on 16 January 2023 via the Uniswap app for 12 months.

The first 22,000 different wallets who purchases an NFT during this promotional period qualifies for a discount on their first transaction. Sub-transactions where users successfully purchase some NFTs have a chance to qualify for discounts. However, failed transactions are not eligible and the gas discount is limited to 0.01 ETH.

For example, if a user spends 0.01 ETH or less on gas, his or her transaction is fully covered; if a user spends more than 0.01 ETH on gas, he or she will receive a discount of 0.01 ETH for that transaction.

Uniswap Labs and purchase of Genie

In June of this year, to continue its mission of unlocking universal ownership and exchange, Uniswap expanded its products to include both ERC-20 tokens and NFTs.

In fact, DEX confirmed that it had acquired Genie, the first NFT marketplace aggregator that allows anyone to discover and exchange NFTs on most platforms.

Since then, NFTs have been integrated into Uniswap products starting with the same platform web app where NFTs are bought and sold on all major marketplaces. In addition, Uniswap has integrated NFTs into its API and widgets for developers, which makes the platform complete for users and builders i Web3.

However, this was not Uniswap’s first foray into the NFT world. In fact, the platform was launched in 2019 Unisocksthe first instance of NFT liquidity pools and NFTs backed by fair values.

Uniswap’s work on NFT positions in Uniswap v3 helped the pioneer generative SVGs in the chain. NFTs are another valuable format in the growing digital economy, not a separate ecosystem from ERC-20s, and they are already an important gateway to Web3. With this vision, Uniswap continues to make significant progress.