Uniswap removes 100 tokens from the interface including options and indices

The world’s main decentralized alternate Uniswap has introduced the removing of a number of tokens from its software interface.

Uniswap Labs introduced the announcement on July 23, emphasizing that the tokens had been solely eliminated from the software interface and the log remained unchanged:

“These changes relate to the interface at app.uniswap.org – the protocol remains completely autonomous, unchangeable and without permission.”

Uniswap Labs Company is a software program developer who created the front-end net software portal. The person interface is separate from the Uniswap protocol itself, which is autonomous code that’s shared as a public good.

In the weblog put up, Uniswap Labs steered that elevated regulatory pressures could have influenced their determination, stating, “We are watching the evolving regulatory landscape.” The firm additionally describes the transfer as “in line with the actions of other DeFi interfaces”.

Tokens which have been eliminated from the platform’s person interface embody devices which can be vulnerable to regulatory approval as securities, including tokenized shares, choice tokens, insurance-based tokens, and combination belongings from crypto derivatives platforms comparable to Synthetix.

The gold-backed token Tether Gold (XAUT) is one in every of the targets, Uniswap founder Hayden Adams Attribution Clear XAUT for error codes. Meme-themed tokens like Grumpy Cat (GRUMPY) have additionally discovered their manner onto Uniswap’s blacklist.

The response of the crypto neighborhood to the alleged decentralization of Uniswap is being questioned. Industry watchers like ‘ChainLinkGod’ inquiry why UNI owners cannot vote on distance, tweeted:

“There is not a variety of info right here. Will this determination be made by a governance vote? Otherwise, this opens up an entire host of errors and units a horrible precedent. “

Uniswap is currently the leading decentralized exchange by trading volume, with versions V2 and V3 of the protocol enabling a total of $ 1.45 billion in transactions in the past 24 hours.

Related: Concerned about the Uniswap supported ‘DeFi Education Fund’, UNI sells 10 million US dollars

Regulatory pressures on the crypto sector are growing globally, with Binance and BlockFi recently suffering from the wrath of authorities in the UK and US.

As Cointelegraph reported on July 22, the Texas State Securities Commission has joined its counterparts in New Jersey and Alabama in cracking down on the crypto lending platform. Vermont was the fourth state to issue an order against BlockFi on July 25th.