- Uniswap decided to remove 129 tokens from Main Interface.
- The reason for the removal of the token, not described.
- Many crypto users criticized the action made by Uniswap.
On Friday, July 23, Uniswap, a leading decentralized crypto exchange, announced that the development community was removing nearly 129 tokens from the main interface. This action noted by onlookers, that several tokens removed could considered securities by regulators globally and some of them, synthetic equities tokens.
Moreover, the limitation of access to these specific tokens stops from app.uniswap.org. But users can still overcome the problem and trade using the token contract. Removal of the token announcement from Uniswap Labs doesn’t describe why the tokens removed but the platform’s post stated,
“These tokens have always represented a very small portion of overall volume on the Uniswap Protocol.”
More so, the Uniswap protocol is not the same as the interface is a set of autonomous, decentralized, and immutable smart contracts. Uniswap platform enables unrestricted access to anyone with a necessary internet connection. Notably, the action will not affect the Uniswap Interface code, this will remain open source.
Accordingly, these tokens are coming from platforms such as Synthetix, Tether, Opyn, UMA, and more. The Twitter account named Banteg explored the issue. And described that it seems like all UMA, Synthetix, Mirror, Opyn tokens get affected. Therefore the users can’t able to trade them on the main platform Uniswap.
Furthermore, many crypto users criticized the action made by Uniswap and they believe other decentralized finance (DeFi) platforms will do the same action. The popular DeFi project Yearn Finance creator Andre Cronje also described the Uniswap situation, “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”.
