The world’s leading decentralized exchange, Uniswap, has announced the elimination of several tokens from its application interface. Uniswap Labs announced this on July 23, stressing that tokens have only been removed from the application interface and that the protocol remains unchanged:
“These changes apply to the interface at app.uniswap.org – the protocol remains completely autonomous and unchanged.”
Company Uniswap Labs is a software developer who has built a front-end web application portal. The front-end is separate from the UNI protocol itself, which is autonomous code.
In a blog post, the company suggested that increased regulatory pressure could influence its decision. She stated: “We are monitoring the evolving regulatory framework.”
What does Uniswap do?
Tokens that have been excluded from the platform interface include instruments that may be at risk of being classified by the regulator as securities. For example, tokenized stocks, option tokens, insurance-based tokens and synthetic assets from crypto-derivative platforms such as Synthetix.
Token with gold support Tether Gold (XAUT) are among the target assets. However, Uniswap founder Hayden Adams attributed the removal of the XAUT code. They also found their way to the blacklist tokens with meme theme including Grumpy Cat (GRUMPY).
The reaction of the crypto-community has called into question the alleged decentralization of society. It is argued that the company decided on its own and it was not a public vote.
Uniswap is currently the leading decentralized exchange in terms of trading volume. Versions v2 a v3 protocol have made a $ 1.45 billion trading volume in the last 24 hours.
Meanwhile, regulatory pressure on the crypto sector is growing worldwide, while Binance and BlockFi have recently angered authorities in the UK and US.