Uniswap Has Sights On Coinbase and Binance

The Messari Mainnent Conference is going on in New York. During the event the COO of Uniswap Labs , the development team behind Uniswap Protocol,Mary-Catherine Lader told media outlets the team behind the protocol has its eye on “several new products” in plans for growth of the exchange market share.

Uniswap has successfully cemented itself as one of the major trading DEX’s on the Ethereum chain. Currently the platform’s latest 24-hour trading volume exceeded $1.12 billion on the Ethereum mainnet alone. The closest runner up to Uniswap would be PancakeSwap which had $194 million.

According to DeFil Llama Uniswap currently commands 60% of the market making it the definitively dominant platform in DeFil only. When compared to the centralized counterparts Binance and Coinbase which have $24 billion and $2.9 billion over the past 24 hours respectively.

Currently one of the biggest goals for the Uniswap team is to siphon some of that money away from the more centralized DEX’s. The company plans to use NFTs to help reach these goals. The company purchased Genie, an NFT aggregator recently to jump into the sector and create a platform for buying and selling digital assets, utilizing different marketplaces turning Uniswap into a one-stop-shop.

The plan for growing the market share of this decentralized operation is primarily focused on the Uniswap DAO. The DAO is deciding if Uniswap should be deployed on the Ethereum scaler zkSync.

One last part of the strategy for Uniswap is the Uniswap Foundation, which funds open-source development in and around the Uniswap protocol. The foundation recently executed its first wave of grants. The first wave consisted of 14 different grants totaling in over $1.8 million. $1.6 million of that went to one particular project: Uniswap Diamond which will be built with pro traders and liquidity providers in mind.

With all of these new offerings and projects it would seem that Uniswap is well on its way to offering a challenge to the centralized exchanges in the future.

Source : Binance Medium

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