Uniswap (UNI)
UNI is the governance token of the Uniswap protocol; it is not the same asset as a liquidity position in a swap pool.
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Uniswap value in USD
Conversions using the latest available price. Excludes fees and the bid-ask spread.
| UNI amount | Value |
|---|---|
| 0.001 UNI | $0.00630 |
| 0.01 UNI | $0.0630 |
| 0.1 UNI | $0.6300 |
| 1 UNI | $6.30 |
| 10 UNI | $63.00 |
| Budget | Estimated amount of UNI |
|---|---|
| $100.00 | 15.87357021 UNI |
| $500.00 | 79.36785106 UNI |
| $1,000.00 | 158.73570212 UNI |
| $5,000.00 | 793.67851061 UNI |
| $10,000.00 | 1,587.35702122 UNI |
On this page
UNI is the governance token of the Uniswap protocol. Uniswap is a family of protocols where users can swap tokens and provide liquidity through smart contracts. Owning UNI is not the same as depositing funds into a liquidity pool. Pool positions, swap transactions, and governance tokens carry distinct rights and risks.
How do swaps occur on Uniswap?
In common Uniswap pools, swaps are executed using the liquidity formed by assets deposited by users. The transaction amount, active liquidity in the pool, and the fee tier affect the result. A large swap can change the pool price; the last price on the screen is not a fixed offer for any amount. Different versions and networks of Uniswap do not use the same technical details.
A liquidity provider can receive a share of swap fees according to the pool’s rules. For this, they must have deposited specific assets into the pool. Simply holding UNI in a wallet does not create such an LP position. Confusing LP tokens or position NFTs with a UNI balance leads to misunderstandings regarding expected income and withdrawal rights.
In which decisions is UNI used?
UNI holders can participate in protocol decisions or delegate their voting power through supported governance pathways. Fee parameters and treasury allocations can be among governance topics. Voting rights are not shares in the Uniswap Labs company or a partnership in the company’s total revenue. The scope of a decision is determined by the relevant proposal and execution process.
A community discussion, a preliminary vote, and an on-chain implemented decision are not the same stage. When the phrase “proposal accepted” is seen, one should check which process has been completed. The function of the token may change over time through governance. For this reason, it is important not to repeat fee or supply descriptions from an old guide as if they were the current situation.
Protocol fees and UNI burning
Uniswap’s current official documentation explains the mechanism where enabled protocol fees are associated with the burning of UNI. Fee collection is not the same as distributing cash to token holders. It should not be assumed that UNI holders have an individual and proportional claim on protocol revenue. Which versions and pools have fees enabled should be checked separately.
Burning is the permanent removal of specific tokens from the supply. This mechanism can affect supply but does not guarantee that the market price will rise. Trading volume, collected protocol fees, and the amount of burned UNI are different metrics. High swap volume does not mean that the same amount is passed to token holders as income. Current parameters should be monitored via official fee documents and on-chain records.
Evaluating UNI supply
The initial distribution of UNI was made among the community and other participant groups. Circulating supply, treasury balance, and the production authorities of governance are separate matters. The initial distribution table alone does not explain today’s circulation. Burning and potential governance decisions may also affect the total amount over time.
The unit price is not the price at which all UNI in the market can be sold at once. Market capitalization is the product of the current price and the circulating supply; liquidity also requires order depth or pool quotes. An increase in the UNI price does not mean that every liquidity provider is in profit. The outcome of an LP position is calculated based on the relative prices of the deposited assets and fee income.
Transfer and application permissions
Verify UNI with the official contract address on the correct network. There may be bridged versions on other networks, and their transfer paths are different. ETH may be required for a token transaction on the Ethereum mainnet. Holding UNI is not mandatory in all cases to swap other tokens on the Uniswap interface; network fees and swap assets are evaluated separately.
Granting spending permission, adding liquidity, and using a governance vote are different operations. Check which one the request you are signing in your wallet performs. The official protocol name does not eliminate the risk of fake sites or malicious tokens. The chart on this page helps in understanding the UNI market, while the relevant guides assist in understanding the logic of DEX and liquidity transactions.
