Uniswap Launches NFT Trading and Airdrops $5M

Ethereum-based decentralized exchange (DEX) Uniswap announced Wednesday that it now enables the trading of non-fungible tokens (NFT). The project also declared a $5 million airdrop to specific users on NFT marketplace Genie.

Uniswap Launch NFT Trading

The leading DEX noted that it will now serve as an NFT aggregator. This entails that Uniswap is now featuring NFT collections on “all major NFT marketplaces.” These are OpenSea, LooksRare, Larva Labs, Foundation, Sudoswap, X2Y2, NFT20, and NFTX.

Uniswap also offers lower gas fees for NFT trades. Users get to save up to 15% on transaction fees. 

The platform also offers a gas rebate. With this offer, the first 22,000 users to conduct NFT trades between now and December 14th will enjoy reduced gas fees. Users who spend 0.01 ETH or less on gas fees get their transactions “fully covered.” Transactions involving more than 0.01 ETH get a rebate of 0.01 ETH.

Uniswap recently launched its Universal Router contract. The smart contracts behind the feature aid the easy swapping of ERC-20 tokens and NFTs in a single transaction. This new feature has been integrated into NFT trading, making multiple token swaps to be conducted with cheap fees.

Recall that, in September, Uniswap Labs, the team behind the Uniswap protocol, signaled its plan to raise $100 million to $200 million. The team intends to use the funds to expand its services. The intended fund was likely used in the latest NFT trading launch.

Uniswap Airdrops 5M USDC

Alongside the launch of the NFT trades, the Ethereum-based DEX airdropped 5 million USDC to “historical genie users.”

Uniswap acquired the NFT marketplace aggregator Genie earlier this year. Currently, the protocol states that users who have been using Genie for a significant amount of time can benefit from the latest airdrop. 

Users who meet up to a certain requirement set by Uniswap are eligible to claim their USDC tokens within the next 12 months.

Meanwhile, the UNI token saw a mild jump following news of the added trading feature. At press time, UNI was trading at $5.84, a 10%  increment from its price some hours prior.

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