Uniswap Labs bought NFT marketplace aggregator Genie

The integration of non-fungible tokens into the exchange’s services will take place in the fall of 2022 and will allow customers to trade assets on all major marketplaces

22.06.2022 - 11:00

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What’s new? Uniswap Labs, the company that developed the Uniswap decentralized exchange (DEX), has announced the purchase of Genie, an NFT marketplace aggregator. The integration of NFTs into Uniswap’s web app, as well as the exchange’s APIs and developer widgets, will take place in the fall of 2022 and will allow the platform’s customers to trade non-fungible tokens on all major marketplaces.

Uniswap Labs’ blog

What else does the blog say? As part of the deal, the exchange will conduct an airdrop of USDC stablecoins among Genie users who have used the trading platform more than once before April 15, as well as holders of the Genie Genesis NFT. The airdrop of stablecoins will start in August, based on a snapshot that has already been taken. The Genie marketplace website will be available until full integration with Uniswap.

Uniswap is a decentralized open-source protocol built on the Ethereum blockchain that allows ERC-20 tokens to be traded. The protocol is managed by UNI token holders. As of June 22, 11:30 UCT, the asset is trading at $4,84, having gained 2,29% per day, according to Binance.

In April, Uniswap Labs announced the launch of a widget that would help integrate the platform’s features into any internet resource. The solution would initially be available on the Oasis.app and Friends With Benefits websites.

On May 5, Uniswap Labs conducted research showing that the decentralized exchange Uniswap v3 has higher liquidity than the leading centralized exchanges Binance and Coinbase.

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