ChangeNOW Integrates Uniswap, Traders Can Now Swap ERC-20 Tokens with Bitcoin, Monero, and More
ChangeNOW, a Seychelles-based instant crypto-to-crypto, fiat-to-crypto non-custodial exchange, is integrating Uniswap—the Ethereum-based decentralized exchange and one of the largest in the world. They are now the first instant crypto exchange service to integrate Uniswap into its platform.
Bridging ERC-20 Tokens with Mainstream Networks
In a press statement on Nov 30, the exchange said the integration of Uniswap’s engine is a desirable milestone. ChangeNOW customers can now swap tokens listed on Uniswap while trading from reliable liquidity pools.
However, the incorporation opens other doors. Beyond the ease of trading ERC-20 tokens, it is possible to integrate ChangeNOW, leveraging the exchange as a one-stop bridge between ERC-20 tokens and other networks.
Accordingly, this move rids the need for tokenizing coins like Monero or Bitcoin. Right off the bat, traders can directly participate in DeFi, swapping mainstream coins with ERC-20 tokens listed on Uniswap.
ChangeNOW is confident in Uniswap. Although malicious agents can take advantage of its pool and lack of checks, the Seychelles-incorporated exchange says the protocol is “quite scam-proof.” They are banking on its ease-of-use and reputation as the largest DEX according to Defi Pulse.
At the time of writing (Dec 9), the exchange supports 40 digital assets including three different versions of USDT on Tron, Ethereum, and the Omni networks, respectively. The Uniswap governance token, UNI, is not on the list.
Uniswap Success and UNI Distribution Resumption Proposal
Over the last few years, Uniswap has evolved to be one of the leading trustless swapping protocol. Initially, it had no native governance token but with increasing competition, Uniswap introduced the UNI governance token.
For the first two months after launching, 20 million UNI tokens were distributed in four pools. However, the program ended on Nov 17, leading the protocol’s assets under management free-falling from around $3 billion to below $1.5 billion.
There is voting in progress to incentive liquidity provision, which has visible, had a direct impact on the protocol. If passed, UNI tokens will be distributed for another two months at half the rate as previously reported by <i>BTCManager</i>.
In 2019, the exchange partnered with Simplex—a payment processing provider, allowing their customers to easily purchase and swap tokens.