What is UNI?
UNI is the governance token of Uniswap, one of the largest decentralized exchanges. It launched in September 2020 with an initial supply of 1 billion tokens. Holders vote, or delegate their votes, on changes to the protocol and the use of its treasury.
You do not need UNI to trade on Uniswap. Its pools are one of many liquidity sources the aggregators behind ChainBridge route through, and the router picks whichever route leaves you the most.
Where you can swap UNI
UNI is in the default token list on these networks. ChainBridge compares 0x, KyberSwap and ParaSwap on each of them and keeps the route that leaves you the most after fees and gas.
- Ethereum
- Arbitrum
- Polygon
- BNB Chain
UNI on Arbitrum, Polygon and BNB Chain is bridged from Ethereum.
Common pairs
| Pair | Why traders use it |
|---|---|
| UNI / ETH | The deepest UNI pair on Ethereum. |
| UNI / USDC | Buy or sell UNI against dollars. |
| UNI / USDT | Same use; deepest on Ethereum and BNB Chain. |
Risks to know
Price volatility
Governance tokens tend to move more than ETH in both directions. Size positions accordingly.
Value depends on governance
What UNI is worth depends on decisions its holders make, such as whether protocol fees ever flow to holders. Those decisions can disappoint.
Thinner liquidity off Ethereum
Bridged UNI on other networks has smaller pools, so large trades see more price impact. Check the impact in the quote.
How to swap UNI on ChainBridge
Connect your wallet
ChainBridge never holds your funds: the swap executes from your own wallet.
Pick UNI and the token to swap against
Choose the network, then the two tokens and the amount.
Compare the quote
Check the amount you receive, the minimum after slippage, the price impact and every fee. See reading a swap quote.
Review and sign
The transaction is simulated and the token is screened before you sign. A predicted revert or an unsellable token blocks the swap.
FAQ
Do I need UNI to use Uniswap?
No. UNI is only for governance. Anyone can trade on Uniswap, and ChainBridge reaches its pools through the aggregators it compares.
Can I vote with UNI held on Arbitrum?
Uniswap governance votes are counted on Ethereum, so voting power comes from UNI held, or delegated, on Ethereum mainnet.