Uniswap new NFT aggregator, which allows traders to swap NFT’s across major marketplaces, has launched with a bang. According to Santiment, the DEX’s token UNI surge to over 6% , and roughly 8,000 active addresses & 3,180 new UNI addresses created for the first time in 19 months.
Uniswap’s new aggregator aims to deliver better prices by combining multiple marketplace listings into one interface across OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, Foundation and NFT20 marketplaces.
Apart from that, the tool would save up to 15% on gas costs compared to other NFT aggregators with the help of its open-sourced Universal Router contract, Uniswap claimed.
The launch also comes with a announcement of a $5 million airdrop as a show of gratitude for longtime Genie users, Uniswap’s earlier NFT marketplace aggregator.
According to the blog post, Genie users will receive an airdrop of $300 for completing more than one transactions or $1,000 for holding a Genie: Genesis NFT prior to Uniswap’s April snapshot. For the following 12 months, eligible users can claim their airdrop in USDC.
As for its new users, the platform will be intoducing a gas rebates promotion that begins from1st Dec and ends on Dec 14, 2022, claimable upto January 16, 2023 through the Uniswap app for 12 months.
The gas rebate is capped at 0.01 ETH.
Ever since the unprecendented FTX contagion occured, investors have turn their attention to decentralized exchanges.
Uniswap for one, have recorded a high number of user traffic for Ethereum [ETH] trading. The exchange is now ranked second behind Binance in the first spot.
Uniswap Overthew Coinbase In Ethereum Trading
Just the other day, Uniswap’s Ethereum deals totalled $1 billion, doubled that of the second-largest centralised exchange Coinbase’s recent figure.
The spike in user activity on the DEX has been attributed to a rise in Uniswap V3’s MEV bot activity over the past week.
MEV bot is an automated program that aims to profit by front-running pending transactions and existing DeFi users.
“This particular MEV bot has sent just under $19 billion to DEXes since November 4, making it the third-biggest source of funds sent to DEXes among all smart contracts,” Chainalysis said.
The data implies that the recent increase in DeFi activity originated from “existing DeFi users trading on the volatility in the market,” and that MEV bot “tried to front-run them,” according to the firm, rather than new customers looking for security in self-custody.