DeFi Reviews

Review Ubeswap (UBE) – The leading AMM DEX of Celo Ecosystem.

Celo is the first mobile blockchain which is built to make financial instruments borderless so users can easily approach them. Defi on Celo-chain is still in the first stage because of lacking exchange for Celo assets. That makes new tokens cannot get liquidity, and investors feel that they don’t need to keep their assets on Celo-chain. So Ubeswap is one of the first important pieces of Celo ecosystem, which supports Celo Defi grow faster and stronger.

Source: Ubeswap.org

What is Ubeswap?

Ubeswap is Defi exchange and AMM protocol built on Celo chain. It is built with the same structure as some famous exchanges such as Uniswap, Sushiswap, Synthetix, and Compound. So Ubeswap can support a variety of projects from the Ethereum ecosystem. Ubeswap first aims at cellphones users, but now they also support web wallets such as Metamask.

Source: Ubeswap.org

Outstanding Features

What is the project trying to achieve?

The most important mission of Dex or AMM is to increase liquidity, so does Ubeswap. They desire to build a world where people can trade any asset from their phone or browser without using obsolete technologies or other centralized systems. Ubeswap finds a way to provide liquidity to all Defi by deploying the fast transaction times, high block gas limit, and stable coin system of Celo.

What is the unique selling point?

-Ubeswap is the lead AMM DEX in Celo Ecosystem.

-Launch both on Mobile and Computer.

-Ubeswap’s protocol design is based on Uniswap’s core contracts. Defi applications built using Uniswap can easily integrate with Ubeswap.

Some features :

Swapping token: Ubeswap enables the decentralized exchange of Celo assets on smartphones. Users can easily swap token on their devices. A buyer or seller does not have to wait for the order matching. They can instantly swap through an automated liquidity protocol.

Providing Liquidity: There are 27 tokens in Ubeswap. The total liquidity has risen from $1mil to $8mil for around 2 months.

Source: Defillama.com

Yield Farming: They offer around 30 pools for farming. Users can earn profit by adding liquidity and choose a suitable pool to farm.

Ubeswap is excited to increase the rewards for several liquidity pools in order to reward liquidity providers throughout the Ubeswap and Celo ecosystems.

They are two kinds of pools: Triple-reward and Double-reward. Some pools offer high APR rewards up to 258% such as UBE-SBR.

Roadmap

Ubeswap launched in February 2021 and has grown to more than $82mil total value locked.

Source:Defillama.com

Here is their Ubeswap V2 and new roadmap :

Source: Ubeswap.org

Technical Data

Key Metrics UBE

Token Name: Ubeswap.

Ticker: UBE.

Blockchain: Celo.

Contract: 0x00be915b9dcf56a3cbe739d9b9c202ca692409ec

Token Type: Utility, Governance.

Total Supply: 100,000,000 UBE.

Circulating Supply: 11,003,258 UBE.

Token Allocation

	Allocation	Percentage	Amount(UBE)
Mined	Mining Reserve	34%	34,000,000
	Partnership & Ecosystem	30%	30,000,000
	Celo Reserve	8%	8,000,000
Released	Team/Advisors	13%	13,000,000
	Strategic Investors	12.7%	12,700,000
Liquid	Liquidity	2.3%	2,300,000

Token Sale

Updating…

Token Use Case

-Mining Reserve: There is a number of tokens released to the farming pool every week. The total tokens of mining reserve are 34M tokens.

-Liquidity :

Protocol Treasury – 2.2M Tokens.

Launch – 100k Tokens

-Governance: Liquidity providers earn a 0.25% fee on all trades proportional to their share of the pool

-Exchange: Users use UBE token to swap to another token.

UBE Token Release Schedule

Source: Ubeswap.org

How to own the token?

-Only swap on Ubeswap, there are 4 pairs to swap :
UBE/CELO

POOF/UBE

UBE/MCO2

UBE/cUSD

Backers

Team

Updating…

Partners

Updating…

Alternative Project

Different AMM/DEX from other ecosystems:

BSC: Pancakeswap, BakerySwap …

Ethereum : Uniswap ,1INCH…

Solana : Saber ,Raydium,Serum ,Orca…

Conclusion

PROS and CONS :

-Pros:

The lead native dex of Celo chain. Ubeswap will bring a huge cash flow to Celo ecosystem.

The market cap is still low. UBE token has a very big potential to grow up in the future.

Cons :

Ubeswap is dependent on Celo. If Celo’s growth is slow, Ubeswap will be severely affected.

They don’t have as many users as other ecosystems.

Finally, above is the basic information about Ubeswap. Clearly, Ubeswap is the center of Celo Defi. The project is very potential and worth the investment. So what do you think about Ubeswap? Will you invest or skip this hidden gem?