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Arrakis Finance (formerly known as G-UNI), the web3’s liquidity layer, has now $746.49M TVL — that's more than 15% of Ethereum Uniswap V3 TVL. This makes Arrakis the largest LP on Uniswap V3 by far.

Can you suggest a DEX token to invest?

What do you think about my portfolio and strategy?

What's Your Preferred Decentralized Exchange (DEX)?

r/CryptoMarketsSee Post

Uniswap (UNI) Price Analysis: Should You Buy After the Dip?

r/CryptoCurrencySee Post

New Technology - Automated Market Makers (AMMs) - Omnipools

r/CryptoCurrencySee Post

New Technology - Automated Market Makers (AMMs) - Omnipools

r/CryptoCurrencySee Post

Did you miss out on the Optimistic Airdrop? Here's your Arbitrum Airdrop Guide.

r/CryptoCurrencySee Post

A crypto protocol can’t be ‘more or less’ decentralized - it’s binary - it either is or it isn’t.

r/CryptoCurrencySee Post

Why Doesn't Litecoin Show Up On Coinbase's Top Mover List?

r/SatoshiStreetBetsSee Post

Uniswap ($UNI) Overview for 2022 - 2023

r/CryptoCurrencySee Post

offer, 20% of any profit for crypto advice

r/CryptoMarketsSee Post

Analisis Tecnico del Mercado Cripto - BTC, ETH, UNI y CAKE Usando Wyckof...

r/CryptoCurrencySee Post

Anyone want to exchange crypto with a value equivalent to Apple MacBook Pro (13.3 inci, M1, 2020) 8GB RAM, 512GB SSD?

r/CryptoCurrencySee Post

Thinking of dumping coins before April to tax harvest losses

r/CryptoCurrencySee Post

Why are DEX coins performing so bad?

r/CryptoCurrencySee Post

Any advice?

r/CryptoCurrencySee Post

Uniswap (UNI) to ease Ukraine crypto donations through a new interface

r/CryptoMarketsSee Post

UNI V3 simplified, let xToken Terminal be your guide........

r/CryptoMarketsSee Post

UNI V3 simplified, let xToken Terminal be your guide........

r/CryptoCurrencySee Post

What crypto’s are you holding for 2022?

r/CryptoCurrencySee Post

What woud/will you do

r/CryptoCurrencySee Post

Which are the "worthy" projects? Opinions?

r/CryptoCurrencySee Post

The future of UNI

r/CryptoMarketsSee Post

Don’t ignore the importance of diversifying your crypto treasury

r/CryptoCurrencySee Post

Funding the Fee Switch Activation on Uniswap V3 and V2 Protocols

r/CryptoCurrencySee Post

Take advantage of the opportunity while it lasts!

r/CryptoMoonShotsSee Post

Real GEM | Presale 02.17.2022 | Pinksale | Android and iOS App in development | Changing the way people get rewarded | Learn more

r/CryptoCurrencySee Post

Thoughts on Uniswap (UNI) long term potential and current price action?

r/CryptoCurrencySee Post

Portfolio Allocations

r/CryptoCurrencySee Post

People wants to go back in time to buy BTC, yet they are sleeping now.

r/CryptoCurrencySee Post

Is it enough to buy cryptocurrency?

r/SatoshiStreetBetsSee Post

Uniswap price analysis: UNI/USD bearish for the next 24 hours

r/CryptoMoonShotsSee Post

🌍 Universal Love 💕

r/CryptoCurrencySee Post

At Gemini Earn’s new rates, I’m not sure it’s worth the risk of a Genesis default

r/CryptoMarketsSee Post

Monetary value is important but being part of the future has more layers to it, and governance is a vital one

r/CryptoMoonShotsSee Post

🌍 Universal Love 💕

r/CryptoMoonShotsSee Post

💕 Universal Love 💕

r/CryptoCurrencySee Post

Latest News.

r/CryptoCurrencySee Post

Where can I swap UNI.e for some AVAX?

r/CryptoMoonShotsSee Post

$BabyUni 🌈 1️0 BNB marketing budget❤️ Anti-bot🚫 Anti-whale feature 🚫 Launching Now on BSC 🔆 Join our telegram!!! Let's Build Together!!!

r/CryptoMoonShotsSee Post

$BabyUni 🌈 1️0 BNB marketing budget❤️ Anti-bot🚫 Anti-whale feature 🚫 Launching Now on BSC 🔆 Liquidity Lock!!! Low Marketcap!!!

r/CryptoMoonShotsSee Post

$BabyUni 🌈 1️0 BNB marketing budget❤️ Anti-bot🚫 Anti-whale feature 🚫 Launching Now on BSC 🔆 Utility in place!!! Verified Contract!!!

r/CryptoMoonShotsSee Post

$BabyUni 🌈 1️0 BNB marketing budget❤️ Anti-bot🚫 Anti-whale feature 🚫 Launching Now on BSC 🔆

r/CryptoCurrencySee Post

Brazilian Asset Manager Hashdex to Launch DeFi ETF Including UNI, AAVE and COMP

r/CryptoCurrencySee Post

If you're not a day trader, trading fees don't really matter all that much when choosing an exchange

r/CryptoCurrencySee Post

Started accumulating UNI a few months ago, and I've been buying pretty consistently. I think that UNI is a better buy than coinbase stock, what do you think?

r/CryptoCurrencySee Post

In which platform are you staking?

r/CryptoCurrencySee Post

Short-term financial investment projects

r/CryptoMarketsSee Post

Why Uniswap is a Good Investment? Detailed Uniswap (UNI) Future Price Prediction

r/CryptoCurrencySee Post

Taxation: An Opportunity for American Ladies and Gentlemen

r/CryptoCurrencySee Post

1500 USDT for the golden tip to my 'lost' tokens i forgot [ 1500 USDT will be send to ur adress. No need to press any link or software.. No phising, only ur USDT address ]

r/CryptoCurrencySee Post

1500 usdt send for the golden tip to my 'lost' tokens [ Only need ur USDT address to send ]

r/CryptoCurrencySee Post

Six months ago, I gave my kids $100 each and asked them to pick three cryptos in a 40:30:30 ratio to track. I will give them all the profits their investment has earned when they turn 18. This is what they chose (and how its going).

r/CryptoCurrencySee Post

How I made gains, lost them and then some

r/CryptoMarketsSee Post

Top Performing Altcoins 2022 Predictions & 2021 Analysis - ETH, MANA, ADA, LINK, UNI, SOL

r/CryptoMarketsSee Post

Hold Uniswap?

r/CryptoMarketsSee Post

UNISWAP CASE STUDY

r/CryptoCurrencySee Post

Sacrifice period for PLSX has started!

r/CryptoCurrencySee Post

Which third generation coins are you investing on?

r/CryptoMarketsSee Post

UniSwap did the right thing integrating Polygon MATIC.

r/CryptoCurrenciesSee Post

UniSwap did the right thing integrating Polygon MATIC.

r/CryptoCurrencySee Post

UniSwap did the right thing integrating Polygon MATIC.

r/SatoshiStreetBetsSee Post

Days ago, TheDappList decided to enable more assets on the Curation Dashboard..a poll was set and $UNI by Uniswap was the unbeatable choice of the community and it's now supported on curation.thedapplist.com

r/CryptoMoonShotsSee Post

Just Launched UniVerse || Love the MetaVerse,NFT's & Gaming? 🕹Check Out This Next 100x Project || Make Christmas Money

r/CryptoMarketsSee Post

With over 72M supporting votes, Uniswap is officially live on Polygon

r/CryptoMoonShotsSee Post

Just Launched UniVerse || Love the MetaVerse,NFT's & Gaming? 🕹Check Out This Next 1000x Project || Make Insane Gains!

r/CryptoCurrencySee Post

Staking or Lending? Where and how?

r/CryptoMoonShotsSee Post

Just Launched UniVerse || Love the MetaVerse,NFT's & Gaming? 🕹Check Out This Next 1000x Project || Great Gains!

r/CryptoCurrencySee Post

Stuck with binance bep2 tokens on private wallet with no way to convert or to get a binance account (to my knowledge, help aha)

r/CryptoMoonShotsSee Post

Just Launched UniVerse || Love the MetaVerse , NFT's & Gaming? 🕹Dont miss out on the Next Moonshot || Huge Marketing coming up in the Next week

r/CryptoCurrencySee Post

The latest mining project

r/CryptoMoonShotsSee Post

Just Launched UniVerse || Love the MetaVerse,NFT's & Gaming? 🕹Check Out This Next 100x Project ||

r/CryptoCurrencySee Post

I pay my kids their allowance in crypto. Anyone else do this?

r/CryptoCurrencySee Post

Uniswap And Polygon teaming up. Uniswap will deploy its smart contracts on Polygon chain.

r/CryptoCurrencySee Post

Themis, the first protocol to leverage $4 B in UNI v3 LP liquidity, raises $2M from investors

r/CryptoMoonShotsSee Post

Just Launched UniVerse || Love the MetaVerse,NFT's & Gaming? 🕹Check Out This Next 100x Project || Don't miss out!!!

r/CryptoCurrencySee Post

Festivus Airing of Grievances Crypto Edition

r/CryptoCurrencySee Post

Intotheblock newsletter on-chain insights "2021 on-chain"

r/CryptoMoonShotsSee Post

Just Launched UniVerse || Love the MetaVerse,NFT's & Gaming? 🕹Check Out This Next 100x Project || Well known Marketing Team Behind

r/CryptoCurrencySee Post

Sorbet Finance Smart Contract Exploit -- If you interacted with Sorbet Finance (G-UNI, an ERC20 wrapper on Uniswap V3 Position), your funds might be at risk. Please go to Sorbet Finance to revoke token approval now

r/CryptoCurrencySee Post

If you are hodling Cardano, SUSHI or UNI, you are most likely in loss

r/CryptoCurrencySee Post

If you are hodling Cardano, SUSHI or UNI, you are most likely in loss.

r/CryptoCurrencySee Post

Air Drops?? I’m hoping for these roll ups, comment your thoughts guys

r/CryptoCurrencySee Post

SushiSwap (SUSHI) vs. Uniswap (UNI) [2021]

r/CryptoCurrencySee Post

Will Uniswap holders get a dividend in the future?

r/CryptoCurrencySee Post

Will uniswap give a dividend for UNI holders?

r/CryptoCurrencySee Post

Diversification and asset allocation are important.

r/CryptoCurrencySee Post

Top 3 decentralized exchange tokens to be bought on December 10th: UNI, XLM and LRC

r/CryptoMoonShotsSee Post

Love the MetaVerse, NFT's and Gaming? Check this upcoming project UniVerse

r/CryptoMoonShotsSee Post

⚡️The Doge Whisperer⚡️ 100% Fair ✅ SAFU ✅ Based Team ✅ Community Driven, zero Team Tokens ✅

r/CryptoMoonShotsSee Post

🔥UniVerse BSC🔥 Join a lit community where a united universe meta protocol is the goal.

r/CryptoCurrencySee Post

Why I am bullish on SUNDAE, but not too much

r/CryptoCurrencySee Post

Solving the DEX liquidity challenge – an innovative solution

r/CryptoMoonShotsSee Post

Lady Uni ($LUNI) | First BSC Metaverse | Insane Growth 🚀 | Backed by Influencers | You will like it |

r/CryptoCurrencySee Post

Dips, Crashes, and Corrections: A Brutal Love Affair.

r/CryptoMoonShotsSee Post

Lady Uni ($LUNI) | First BSC Metaverse | 72 hours old | Insane Growth 🚀 | Backed by Influencers 💎

r/CryptoCurrencySee Post

CoinDesk 20 Update: ATOM, ICP and SOL Are In; AAVE, GRT and UNI Are Out

r/CryptoMarketsSee Post

Trading makes some nice profits, but I feel like staking gives more realistically sustainable profits for long term.

r/CryptoCurrencySee Post

Uniswap vs Sushiswap: What Are Your Thoughts?

Mentions

Yeah, it aint for long term. I better invest that on PINK, UNI, ALGO, FTM that has a brighter future. I also have meme coins but once i profited, i exit fast.

I heard you can stake bbank for decent apys. I might try once i got extra. Speaking of what I'm buying, I got TEN, UNI, ATOM, DODO etc. Just wanna catch the falling knives and forget for many months or so.

Which one are you buying? I got PINK, UNI, 1INCH, AVAX and some memes and i'm holding it. Do or die but i believe solid gems will remain.

Closest thing I know of off hand https://beta.arrakis.finance/#/vaults (formerly G-UNI)

Mentions:#UNI

Buy ETH and it's like you're investing in all of them. The main problem with a lot of dex tokens right now is many don't actually accrue value from the protocol (ex UNI) and/or they suffer from lots of dilution due to inflationary (SUSHI, CRV) rewards. If you can afford working with Eth mainnet, Crv , put into veCrv or vlCVX are good options if you take advantage of bribes like with Votium or Hidden Hand. veBAL is another option for bribes although veCRV is still the main target of most bribes. If you can't afford Eth mainnet, then GMX on Arbitrum is one of the few dex tokens which does actually accrue value from the protocol, but you should do your own research to make sure you're comfortable investing in it.

Of the 3 you mentioned, GMX is the best IMO. UNI will likely never turn on fee sharing due to regulatory fears so it's just a worthless governance token. SUSHI is better and does fee share with xSUSHI holders, but it's a fairly low percentage (.05%) and as you can see from token performance it hasn't had a huge effect on SUSHI price. GMX on the other hand has a lot of mechanisms designed to drive value to the GMX token, which you can read about here: https://gmxio.gitbook.io/gmx/tokenomics https://gmxio.gitbook.io/gmx/rewards I don't personally hold any of these tokens and I've used all 3 platforms in the past.

a UNI Cyclist!

Mentions:#UNI

I bought UNI back at the start of 2021. Watched it 10x , now it's back to where I started out. Never took any profit. Am I doing this right?

Mentions:#UNI

Some are close. UNI, VeChain. My NEO got obliterated (140->9)

Mentions:#UNI#NEO

BTC/ETH (Majority) - I think these two should form the corner stone of your portfolio. BAT, HNT, UNI, and GLM (Golem) 1/2% (each) of portfolio - basically tokens that have utility Thinking of adding a ETH competitor or adding DOT and ATOM at some point.

BTC ETH ADA SOL DOT AVAX MATIC CRO UNI ALGO. I thought I was so smart diversifying in December 😂

were you dropped UNI from a company that has shareholders and subject to KYC and AML laws?

Mentions:#UNI

Why? Why would you need KYC to recieve tokens? Did you KYC when you were airdropped UNI?

Mentions:#UNI

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the DEX Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > Reusing my previous entry [from here](https://np.reddit.com/r/CryptoCurrency/comments/pfos3j/rcc_cointest_general_concepts_dex_conarguments/hdw1d32/). > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and earn yield. > > That being said, there are some tradeoffs and limitations of interacting with DEXs to be aware of: > > ##Yo dawg, I heard you like decentralization > > - Decentralization can refer [to the protocol itself or to the governance and development of the protocol/platform](https://miro.medium.com/max/1304/0*epCTOVyxEmQq-AiU). > > - [Decentralization is a spectrum](https://nopara73.medium.com/few-words-on-decentralization-and-anonymous-payments-160782d30b9e) rather than a binary distinction. So a DEX may be [decentralized in some ways but centralized in others](https://www.coindesk.com/markets/2018/07/23/decentralized-exchanges-arent-living-up-to-their-name-and-data-proves-it/). Governance and developer control of a platform, for example, can vary wildly: > > >“Some have large control over their direction, others are governed by venture capital investors, and others have broader communities that vote in changes like an open source project.” > \- [Lex Sokolin, CMO and Global Fintech Co-Head, ConsenSys](https://cryptonews.com/exclusives/why-defi-isn-t-always-as-decentralized-as-you-might-think-7695.htm) > > - Users in the [Uniswap Con Cointest thread](https://np.reddit.com/r/CryptoCurrency/comments/og2r4t/rcryptocurrency_cointest_top_10_category_uniswap/) have articulated many of their concerns about whales and VC interests dominating UNI governance politics. > > - But I'll repeat the example of [Uniswap's unilateral decision to delist tokens](https://decrypt.co/76793/ethrereum-dex-uniswap-drops-tokenized-stocks-as-regulators-close-in) after facing regulatory scrutiny from the SEC. Even if a certain protocol is decentralized, the team can take actions to limit access. > > - Similarly, the DeFi community was not too pleased when Compound CEO Robert Leshner [threatened to doxx users](https://decrypt.co/82387/defi-community-blasts-compound-ceo-for-doxxed-comment) who didn't return COMP tokens after a protocol bug. > > - "Code is law. Unless we fuck up. Then we call the IRS on you." said [Blockstream CSO Samson Mow](https://nitter.com/Excellion/status/1443875126982840330). > > - Another concern would be seemingly decentralized platforms like Bancor having backdoors and the ability to freeze user funds ([which they did after a hack](https://techcrunch.com/2018/07/10/bancor-loses-23-5m/)). > > - [As LTC founder Charlie Lee stated](https://nitter.com/SatoshiLite/status/1016499756158234624): > > >"An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization." > > - [Or, as DOGE founder Jackson Palmer commented](https://medium.datadriveninvestor.com/the-lessons-learned-from-a-false-sense-of-decentralization-875b8c2731a6): > > >“The key thing here is not the hack itself — it’s the fact the Bancor team had the ability to freeze funds. How many other “decentralized” DApps have a built-in kill switch that’s centrally controlled?” > > - In removing gatekeepers and intermediaries, DEXs and AMMs promise a more level financial playing field than the permissioned, opaque system of centralized finance. > > - However, even when governance of an open source platform is 'fair' and decentralized, DEX users are exposed to some of the same financial shenanigans inherent to CeFi, [such as front running](https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/). > > - There is no need for practices like [Robinhood's payment for order flow](https://web.archive.org/web/20210729220645/https://www.wsj.com/articles/robinhoods-debut-is-clouded-by-sec-scrutiny-of-payment-for-order-flow-11625655600) when trades are publicly broadcasted for the world to see: > > - "[Decentralized exchanges make it easier for anyone to exploit temporary market inefficiencies for a profit. In other words, it’s easier to front-run the market](https://blog.gnosis.pm/decentralized-exchanges-have-a-problem-7e6d81d91ba1)." > > > - "[Trades on decentralized exchanges \(DEX\) are sitting ducks while they remain idle in the processing queue. A small cohort of developers can and do take advantage of this lag time between hitting the trade button and the trade executing on-chain by front-running, back-running or 'sandwiching' a transaction.](https://www.yahoo.com/now/bad-sandwich-defi-trader-poisons-153336603.html)" > > > ##With mediocre UX comes great responsibility > > - DEXs are often not newbie friendly > > - There is a learning curve to self-custodying and creating a web wallet > > - Because of the immutability of blockchain transactions, it can be [easy for even savvy traders to learn an expensive lesson about human error](https://np.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/) > > - The process can be further intimidating when attempting to[ bridge assets on sidechains and L2s](https://ethhole.link/layer2) (and it is precisely smaller, newer traders who benefit most from[ lower fees](https://l2fees.info/)) > > - So it's not surprising that [many users - especially new market participants - would prefer to accept the counterparty risk of a custodial exchange](https://cointelegraph.com/news/coinbase-regains-1-position-on-apple-app-store-as-crypto-com-jumps-to-third) in return for a consumer oriented and streamlined user experience: > > - Given lack of KYC/AML, the majority of DEXs do not allow for onboarding/offboarding fiat and require users to touch a centralized exchange at some point if they want to get money in or out of 'the system'. > > - To go back to the Compound bug, Leshner clarified that his 'doxx' comment was in reference to DeFi users' interactions with centralized exchanges: > > > "[He said that anyone could identify the public Ethereum addresses that interact with the Compound protocol, and whether they engaged with popular exchanges like Coinbase that collect information about users.](https://www.nytimes.com/2021/10/04/business/dealbook/facebook-whistleblower-frances-haugen.html)" > > - Few DEXs natively offer the same level of trading functionality as centralized exchanges (e.g. limit orders, stop losses). > > - While centralized exchange users are primarily concerned with fees and spread, DEX users must also familiarize themselves with concepts like [slippage](https://academy.shrimpy.io/post/what-is-slippage-how-to-avoid-slippage-on-defi-exchanges) and [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained) > > - As the market becomes more saturated with DEX platforms and aggregators, it can be difficult for a lay user to evaluate competing promises of trustlessness and decentralization - or recognize when they're being exploited. > > - [Exit scams and rugpulls are prolific](https://decrypt.co/55787/defi-rug-pulls-were-cryptos-top-fraud-scheme-in-2020-ciphertrace) - newbies may find it challenging to verify if a DEX is legitimate, especially when dev teams are anonymous and many users lack technical proficiency to audit the protocol/smart contracts themselves. > > - While hacks and phishing risks aren't limited to DEXs, they expose [users to additional attack vectors](https://coinmarketcap.com/alexandria/article/how-to-identify-and-avoid-uniswap-scams): > > > - Given [the ease of creating \(copy/pasting\) and listing a token](https://www.nytimes.com/2021/08/05/business/hype-coins-cryptocurrency.html), it's no surprise that scamcoins abound on DEXs, many of which [spoof legitimacy](https://twitter.com/uniwhalesio/status/1357785710896545792). > > - E.g., [researchers identified over 10K scam tokens and scam liquidity pools on Uniswap V2](https://arxiv.org/abs/2109.00229). > > - Or check out [this recent attack which shows how Uniswap v3 liquidity pools can be manipulated](https://twitter.com/Mudit__Gupta/status/1455627465678749696). > > - More sinister is when [developers tweak the token contract to take your assets](https://twitter.com/r0bster97/status/1338182571558055937) or [remove a token's approval function](https://cryptot3ddybear.github.io/posts/scam-explained-bsc-noapproval/), preventing you from dumping the scamcoin you just bought. > > - ... ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/r6rt5n/general_concepts_round_dex_conarguments_december/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/umsqe8/monthly_optimists_discussion_may_2022/).

They require you to sho interest or some sort of activity. UNI and ENS not really dumb shit imo. I got OP token airdrop simply for making a Gitcoin donation years ago.

Mentions:#UNI#ENS#OP

>What's your take on DOT and ADA? Tokens? Throw a small amount of money at them if you want. I consider almost any token purely speculative until I see some sort of tangible, practical value to it or adoption as currency. UNI for example has tangible value for example because it confers partial governance of a protocol with a lot of locked value. ETH has practical value because it's the form of payment on the most-used smart contract chain in existence. Tell me the real value behind any token and I'll tell you my take.

Altcoins meaning other than BTC? You should probably invest a big chunk into it. Other than that XMR, ETH, BTTOLD, UNI, SUSHI

1inch UNI

Mentions:#UNI

Mainly ADA, UNI, ZILLIQA and an ASA from Algorand called HEADLINE. I'm keeping up with their updates and they seem to be building still. Fingers crossed.

Mentions:#ADA#UNI

My 1inch and UNI are now down 80%.... I think you are right... even if I can't get these 2 coins to back up where I originally purchased, if selling the entire coin later make up my entire lose in crypto investment, I should be okay. Selling at loss for some and profit for others. That's my original plan.

Mentions:#UNI

Hmm, for the bags I hold most confident in ADA & DOGE. Honorable mention to DEFI "blue chips" I own like MKR, AAVE, and UNI. But if I could trade back the ETH I spent for my UNI right now I would =p For ones I do *not* own, I am feeling confident about (and considering picking up at some point) FTX Token (think it'll be the next Binance coin pump) and maybe ERG.

But you don't have power over that treasury. UNI won't give the treasury to it's holders because that would make it a security and the team is all based in the US.

Mentions:#UNI

Why would you buy UNI or LINK? Especially UNI? That might be THE most useless token over.

Mentions:#UNI#LINK

Noticed the same trend with UNI and 1Inch. Anything similar between the three besides their trend graphs?

Mentions:#UNI

The only mistake I made in March 2020 was not buying more ETH. I did a 80/20 split on BTC and ETH. Thankfully I had used two accounts on uniswap (because of one getting congested). That resulted in 800 UNI I converted into ETH immediately (around 10 ETH at the time).

Mentions:#ETH#BTC#UNI

There are way more than 3 types of cryptos lol. You have your Oracles (Think LINK) You have your governance tokens (UNI for example), then you have smart contract platforms (ETH, ADA, ATOM, ONE, DOT, etc. etc.) There is a group of people that class BTC as a "SoV" or, "Digital Gold", you have your tokens that are specifically created for yield farming degen activities, you have your privacy coins (such as XMR, ZEC). Bottom line, I think your paper is gonna be longer than you intended haha

Y’all expect UNI to have a good run next cycle? If it hits a new ATH the price it is now is some good gains.

Mentions:#UNI

I want to play a game. Your crypto all converts itself into USDC, you hop on exchanges quick to reinvest but find only SKL GTC ADA GRT AND UNI can be purchased at this time. Bull market is coming, we can’t miss it! It’s Pamping! You have 100% of your portfolio to fill what are you buying?

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the DEX Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > Reusing my previous entry [from here](https://np.reddit.com/r/CryptoCurrency/comments/pfos3j/rcc_cointest_general_concepts_dex_conarguments/hdw1d32/). > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and earn yield. > > That being said, there are some tradeoffs and limitations of interacting with DEXs to be aware of: > > ##Yo dawg, I heard you like decentralization > > - Decentralization can refer [to the protocol itself or to the governance and development of the protocol/platform](https://miro.medium.com/max/1304/0*epCTOVyxEmQq-AiU). > > - [Decentralization is a spectrum](https://nopara73.medium.com/few-words-on-decentralization-and-anonymous-payments-160782d30b9e) rather than a binary distinction. So a DEX may be [decentralized in some ways but centralized in others](https://www.coindesk.com/markets/2018/07/23/decentralized-exchanges-arent-living-up-to-their-name-and-data-proves-it/). Governance and developer control of a platform, for example, can vary wildly: > > >“Some have large control over their direction, others are governed by venture capital investors, and others have broader communities that vote in changes like an open source project.” > \- [Lex Sokolin, CMO and Global Fintech Co-Head, ConsenSys](https://cryptonews.com/exclusives/why-defi-isn-t-always-as-decentralized-as-you-might-think-7695.htm) > > - Users in the [Uniswap Con Cointest thread](https://np.reddit.com/r/CryptoCurrency/comments/og2r4t/rcryptocurrency_cointest_top_10_category_uniswap/) have articulated many of their concerns about whales and VC interests dominating UNI governance politics. > > - But I'll repeat the example of [Uniswap's unilateral decision to delist tokens](https://decrypt.co/76793/ethrereum-dex-uniswap-drops-tokenized-stocks-as-regulators-close-in) after facing regulatory scrutiny from the SEC. Even if a certain protocol is decentralized, the team can take actions to limit access. > > - Similarly, the DeFi community was not too pleased when Compound CEO Robert Leshner [threatened to doxx users](https://decrypt.co/82387/defi-community-blasts-compound-ceo-for-doxxed-comment) who didn't return COMP tokens after a protocol bug. > > - "Code is law. Unless we fuck up. Then we call the IRS on you." said [Blockstream CSO Samson Mow](https://nitter.com/Excellion/status/1443875126982840330). > > - Another concern would be seemingly decentralized platforms like Bancor having backdoors and the ability to freeze user funds ([which they did after a hack](https://techcrunch.com/2018/07/10/bancor-loses-23-5m/)). > > - [As LTC founder Charlie Lee stated](https://nitter.com/SatoshiLite/status/1016499756158234624): > > >"An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization." > > - [Or, as DOGE founder Jackson Palmer commented](https://medium.datadriveninvestor.com/the-lessons-learned-from-a-false-sense-of-decentralization-875b8c2731a6): > > >“The key thing here is not the hack itself — it’s the fact the Bancor team had the ability to freeze funds. How many other “decentralized” DApps have a built-in kill switch that’s centrally controlled?” > > - In removing gatekeepers and intermediaries, DEXs and AMMs promise a more level financial playing field than the permissioned, opaque system of centralized finance. > > - However, even when governance of an open source platform is 'fair' and decentralized, DEX users are exposed to some of the same financial shenanigans inherent to CeFi, [such as front running](https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/). > > - There is no need for practices like [Robinhood's payment for order flow](https://web.archive.org/web/20210729220645/https://www.wsj.com/articles/robinhoods-debut-is-clouded-by-sec-scrutiny-of-payment-for-order-flow-11625655600) when trades are publicly broadcasted for the world to see: > > - "[Decentralized exchanges make it easier for anyone to exploit temporary market inefficiencies for a profit. In other words, it’s easier to front-run the market](https://blog.gnosis.pm/decentralized-exchanges-have-a-problem-7e6d81d91ba1)." > > > - "[Trades on decentralized exchanges \(DEX\) are sitting ducks while they remain idle in the processing queue. A small cohort of developers can and do take advantage of this lag time between hitting the trade button and the trade executing on-chain by front-running, back-running or 'sandwiching' a transaction.](https://www.yahoo.com/now/bad-sandwich-defi-trader-poisons-153336603.html)" > > > ##With mediocre UX comes great responsibility > > - DEXs are often not newbie friendly > > - There is a learning curve to self-custodying and creating a web wallet > > - Because of the immutability of blockchain transactions, it can be [easy for even savvy traders to learn an expensive lesson about human error](https://np.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/) > > - The process can be further intimidating when attempting to[ bridge assets on sidechains and L2s](https://ethhole.link/layer2) (and it is precisely smaller, newer traders who benefit most from[ lower fees](https://l2fees.info/)) > > - So it's not surprising that [many users - especially new market participants - would prefer to accept the counterparty risk of a custodial exchange](https://cointelegraph.com/news/coinbase-regains-1-position-on-apple-app-store-as-crypto-com-jumps-to-third) in return for a consumer oriented and streamlined user experience: > > - Given lack of KYC/AML, the majority of DEXs do not allow for onboarding/offboarding fiat and require users to touch a centralized exchange at some point if they want to get money in or out of 'the system'. > > - To go back to the Compound bug, Leshner clarified that his 'doxx' comment was in reference to DeFi users' interactions with centralized exchanges: > > > "[He said that anyone could identify the public Ethereum addresses that interact with the Compound protocol, and whether they engaged with popular exchanges like Coinbase that collect information about users.](https://www.nytimes.com/2021/10/04/business/dealbook/facebook-whistleblower-frances-haugen.html)" > > - Few DEXs natively offer the same level of trading functionality as centralized exchanges (e.g. limit orders, stop losses). > > - While centralized exchange users are primarily concerned with fees and spread, DEX users must also familiarize themselves with concepts like [slippage](https://academy.shrimpy.io/post/what-is-slippage-how-to-avoid-slippage-on-defi-exchanges) and [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained) > > - As the market becomes more saturated with DEX platforms and aggregators, it can be difficult for a lay user to evaluate competing promises of trustlessness and decentralization - or recognize when they're being exploited. > > - [Exit scams and rugpulls are prolific](https://decrypt.co/55787/defi-rug-pulls-were-cryptos-top-fraud-scheme-in-2020-ciphertrace) - newbies may find it challenging to verify if a DEX is legitimate, especially when dev teams are anonymous and many users lack technical proficiency to audit the protocol/smart contracts themselves. > > - While hacks and phishing risks aren't limited to DEXs, they expose [users to additional attack vectors](https://coinmarketcap.com/alexandria/article/how-to-identify-and-avoid-uniswap-scams): > > > - Given [the ease of creating \(copy/pasting\) and listing a token](https://www.nytimes.com/2021/08/05/business/hype-coins-cryptocurrency.html), it's no surprise that scamcoins abound on DEXs, many of which [spoof legitimacy](https://twitter.com/uniwhalesio/status/1357785710896545792). > > - E.g., [researchers identified over 10K scam tokens and scam liquidity pools on Uniswap V2](https://arxiv.org/abs/2109.00229). > > - Or check out [this recent attack which shows how Uniswap v3 liquidity pools can be manipulated](https://twitter.com/Mudit__Gupta/status/1455627465678749696). > > - More sinister is when [developers tweak the token contract to take your assets](https://twitter.com/r0bster97/status/1338182571558055937) or [remove a token's approval function](https://cryptot3ddybear.github.io/posts/scam-explained-bsc-noapproval/), preventing you from dumping the scamcoin you just bought. > > -... ***** Would you like to learn more? [Click here](/r/CointestOfficial/comments/r6rt5n/general_concepts_round_dex_conarguments_december/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ttir1a/monthly_skeptics_discussion_april_2022/).

I wish I was all BTC/ETH. But hey, hope alts bounce back higher. Can’t go *that* much lower, right? (For example UNI at 7.5$ wtf)

Mentions:#BTC#ETH#UNI

well if you don't put yourself in hibernation you can lose one nerve to many chaing the pumps and the ROI's ! now, that UNI has their legal issues, I'm wondering will kaddex be launched, so they take the chance and get some of uni's userbase in. kdx sounds good in theory, it's part of kadena so I have no trust issues with such a team - now lets deliver boys !

Mentions:#ROI#UNI

There were so many tumbles from little coins like Quartz which due to low volume is quite volatile and it’s under 2 cents now to bigger ones like Filecoin which had an absurd drop… 70% I’d say! Most of DEX coins like UNI, SUSHI and CAKE had been smashed! On the strength side, besides the usuals suspects, I have been impressed with BNBs performance

Why are you holding UNI? 🧐

Mentions:#UNI

wow my UNI are almost worthless now

Mentions:#UNI

Opening a UNI/WETH position costs $5.00 on ethereum mainnet. Maybe I got lucky?

Mentions:#UNI#WETH

What are the UNI tokens gonna be used for?

Mentions:#UNI

Totally. I still have a small bag of UNI that I wish I didn’t have.

Mentions:#UNI

The May 2021 crash DESTROYED my defi token portfolio. Pretty much all my blue chip DeFi tokens are down 80+% and have not recovered. AAVE, Compound, UNI, SUSHI they are all wayyyyyyy down.

tldr; Helium (HNT), Maker (MKR), Waves (WAVES), Chiliz (CHZ) and Uniswap (UNI) are the five cryptocurrencies that have decreased the most over the past week. HNT is decreasing alongside a descending resistance line, while MKR is trading above support at $1,700. CHZ has broken down from an ascending support line. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Stablecoin staking on Binance, as well as UNI, KNC, and ETH staking on Siren Protocol, are passive income possibilities that I use.

Mentions:#UNI#KNC#ETH

DOT has been in a lot of articles I have read. It's mainly centered around integrating with other projects. Ethereum, Avalanche, SOL, UNI were mentioned as a merger or bridge that will allow faster and cheaper transactions. Like ATOM, DOT is unique and has its own role to play. I see DOT tripling from today's price. My prediction is 60+ by summer

ANJI swap Has 40% less fees than the most popular ones including PCS and UNI. Easy to navigate for beginners and is multi chain. The native token also only has a 2 million usd market cap, so plenty of room for growth.

Mentions:#ANJI#UNI

LINK and UNI seem to be always together, heading down. I have both.

Mentions:#LINK#UNI

I honestly thought his list was strange, his criteria seems geared towards coins, however he mentions buying on PCS and UNI... I'm thinking tokens?? However makes sense now lol

Mentions:#UNI

ANJI It has a DEX where the fees are 50% cheaper than the other more popular ones (CAKE, UNI etc) You literally pay 50% less fees when using ANJI. Holders of ANJI also receive rewards for holding via a % of the small transaction fees. It only has a 2 million MC and they haven’t done any marketing yet, with the swap only coming out of beta a few days ago.

Felt bad missing out on the UNI airdrop back when... Led me to chase airdrops in other quarters. Insane the amount of value that has just been dropped in Cosmos.

Mentions:#UNI

80% VGRO 20% Crypto (50%BTC 25%SOL 25%UNI) Not financial advice. I, in fact, know nothing. Crypto seems like a good bet (selections are completely random) and VGRO will have some returns when the upswing occurs: has outperformed most portfolios of hand-picked stocks over time.. so I'm told.....

Mentions:#BTC#SOL#UNI

Haven't used scambase since 2020 when they took my UNI

Mentions:#UNI

>The Hottest DeFi Tokens That You Should Look Into in 2022 AVAE protocol with AAVE token Synthetix protocol with SNX token UMA protocol with UMA token Kyber protocol with KNC token Ren protocol with REN token Sushiswap protocol with SUSHI token YEarn protocol with YFI token Uniswap protocol with UNI token Loopring protocol with LRC token 0x protocol with ZRX token Finally, it should be noted that with the recent fluctuations in the global economy and financial transactions around the world, the demand for decentralized currencies is increasing. This shows that a good future awaits the famous Defai tokens. Even now, by facilitating the lending process and giving voting rights to their owners, these tokens have been able to increase the motivation of users to provide this type of currency code and achieve a good position among other digital currencies.

UNI, DOT & SUSHI started plummeting the minute after I purchased them. I'm now almost 60% down on them. Hope 2022 is the year they explode.

Scambase will steal your coins.. beware.. you have been warned... They stole my UNI in 2020.

Mentions:#UNI

Anyway still holding on to UNI, i am, the airdropped tokens

Mentions:#UNI

I see, major defi tokens have been in a bear market since a long time though. LINK UNI AAVE against ETH have lost almost 70-80% value

tldr; Cardano NFT projects have had the largest level of activity on Cardano at 47.9% as creators and users bet on the blockchain’s promising stellar performance. Cardano now trails Kusama (KSM), Polkadot (DOT), Solana (SOL), and Uniswap (UNI) with approximately 311.33% in development activity. *This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.*

Some traders on different DEXs are actively shorting UNI For example yesterday at DEX Wowswap APY on this coin in LP was about 200%, which shows that most of the DEX traders are in short positions on UNI and even with leverage up to 5x

Mentions:#UNI#DEX

I believe they understand that with more regulations coming on board traders will favour DEXes over CEXes hence the more reason to buy native tokens of some of the projects creating top DEXes like ALBT, EGLD, and UNI.

Pretty much all DEXs are a copy and paste of uniawap and it's not a bad thing. UNI has been battle tested and when someone forks it to create a new project they will usually improve upon it.

Mentions:#UNI

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the DEX Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and earn yield. > > That being said, there are some tradeoffs and limitations of interacting with DEXs to be aware of: > > ##Yo dawg, I heard you like decentralization > > - Decentralization can refer [to the protocol itself or to the governance and development of the protocol/platform](https://miro.medium.com/max/1304/0*epCTOVyxEmQq-AiU). > > - [Decentralization is a spectrum](https://nopara73.medium.com/few-words-on-decentralization-and-anonymous-payments-160782d30b9e) rather than a binary distinction. So a DEX may be [decentralized in some ways but centralized in others](https://www.coindesk.com/markets/2018/07/23/decentralized-exchanges-arent-living-up-to-their-name-and-data-proves-it/). Governance and developer control of a platform, for example, can vary wildly: > > >“Some have large control over their direction, others are governed by venture capital investors, and others have broader communities that vote in changes like an open source project.” > \- [Lex Sokolin, CMO and Global Fintech Co-Head, ConsenSys](https://cryptonews.com/exclusives/why-defi-isn-t-always-as-decentralized-as-you-might-think-7695.htm) > > - Users in the [Uniswap Con Cointest thread](https://np.reddit.com/r/CryptoCurrency/comments/og2r4t/rcryptocurrency_cointest_top_10_category_uniswap/) have articulated many of their concerns about whales and VC interests dominating UNI governance politics. > > - But I'll repeat the example of [Uniswap's unilateral decision to delist tokens](https://decrypt.co/76793/ethrereum-dex-uniswap-drops-tokenized-stocks-as-regulators-close-in) after facing regulatory scrutiny from the SEC. Even if a certain protocol is decentralized, the team can take actions to limit access. > > - Similarly, the DeFi community was not too pleased when Compound CEO Robert Leshner [threatened to doxx users](https://decrypt.co/82387/defi-community-blasts-compound-ceo-for-doxxed-comment) who didn't return COMP tokens after a protocol bug. > > - "Code is law. Unless we fuck up. Then we call the IRS on you." said [Blockstream CSO Samson Mow](https://nitter.com/Excellion/status/1443875126982840330). > > - Another concern would be seemingly decentralized platforms like Bancor having backdoors and the ability to freeze user funds ([which they did after a hack](https://techcrunch.com/2018/07/10/bancor-loses-23-5m/)). > > - [As LTC founder Charlie Lee stated](https://nitter.com/SatoshiLite/status/1016499756158234624): > > >"An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization." > > - [Or, as DOGE founder Jackson Palmer commented](https://medium.datadriveninvestor.com/the-lessons-learned-from-a-false-sense-of-decentralization-875b8c2731a6): > > >“The key thing here is not the hack itself — it’s the fact the Bancor team had the ability to freeze funds. How many other “decentralized” DApps have a built-in kill switch that’s centrally controlled?” > > - In removing gatekeepers and intermediaries, DEXs and AMMs promise a more level financial playing field than the permissioned, opaque system of centralized finance. > > - However, even when governance of an open source platform is 'fair' and decentralized, DEX users are exposed to some of the same financial fuckery inherent to CeFi, [such as front running](https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/). > > - There is no need for practices like [Robinhood's payment for order flow](https://web.archive.org/web/20210729220645/https://www.wsj.com/articles/robinhoods-debut-is-clouded-by-sec-scrutiny-of-payment-for-order-flow-11625655600) when trades are publicly broadcasted for the world to see: > > - "[Decentralized exchanges make it easier for anyone to exploit temporary market inefficiencies for a profit. In other words, it’s easier to front-run the market](https://blog.gnosis.pm/decentralized-exchanges-have-a-problem-7e6d81d91ba1)." > > > - "[Trades on decentralized exchanges \(DEX\) are sitting ducks while they remain idle in the processing queue. A small cohort of developers can and do take advantage of this lag time between hitting the trade button and the trade executing on-chain by front-running, back-running or 'sandwiching' a transaction.](https://www.yahoo.com/now/bad-sandwich-defi-trader-poisons-153336603.html)" > > > ##With mediocre UX comes great responsibility > > - DEXs are often not newbie friendly > > - There is a learning curve to self-custodying and creating a web wallet > > - Because of the immutability of blockchain transactions, it can be [easy for even savvy traders to learn an expensive lesson about human error](https://np.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/) > > - The process can be further intimidating when attempting to[ bridge assets on sidechains and L2s](https://ethhole.link/layer2) (and it is precisely smaller, newer traders who benefit most from[ lower fees](https://l2fees.info/)) > > - So it's not surprising that [many users - especially new market participants - would prefer to accept the counterparty risk of a custodial exchange](https://cointelegraph.com/news/coinbase-regains-1-position-on-apple-app-store-as-crypto-com-jumps-to-third) in return for a consumer oriented and streamlined user experience: > > - Given lack of KYC/AML, the majority of DEXs do not allow for onboarding/offboarding fiat and require users to touch a centralized exchange at some point if they want to get money in or out of 'the system'. > > - To go back to the Compound bug, Leshner clarified that his 'doxx' comment was in reference to DeFi users' interactions with centralized exchanges: > > > "[He said that anyone could identify the public Ethereum addresses that interact with the Compound protocol, and whether they engaged with popular exchanges like Coinbase that collect information about users.](https://www.nytimes.com/2021/10/04/business/dealbook/facebook-whistleblower-frances-haugen.html)" > > - Few DEXs natively offer the same level of trading functionality as centralized exchanges (e.g. limit orders, stop losses). > > - While centralized exchange users are primarily concerned with fees and spread, DEX users must also familiarize themselves with concepts like [slippage](https://academy.shrimpy.io/post/what-is-slippage-how-to-avoid-slippage-on-defi-exchanges) and [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained) > > - As the market becomes more saturated with DEX platforms and aggregators, it can be difficult for a lay user to evaluate competing promises of trustlessness and decentralization - or recognize when they're being exploited. > > - [Exit scams and rugpulls are prolific](https://decrypt.co/55787/defi-rug-pulls-were-cryptos-top-fraud-scheme-in-2020-ciphertrace) - newbies may find it challenging to verify if a DEX is legitimate, especially when dev teams are anonymous and many users lack technical proficiency to audit the protocol/smart contracts themselves. > > - While hacks and phishing risks aren't limited to DEXs, they expose [users to additional attack vectors](https://coinmarketcap.com/alexandria/article/how-to-identify-and-avoid-uniswap-scams): > > > - Given [the ease of creating \(copy/pasting\) and listing a token](https://www.nytimes.com/2021/08/05/business/hype-coins-cryptocurrency.html), it's no surprise that scamcoins abound on DEXs, many of which [spoof legitimacy](https://twitter.com/uniwhalesio/status/1357785710896545792). > > - E.g., [researchers identified over 10K scam tokens and scam liquidity pools on Uniswap V2](https://arxiv.org/abs/2109.00229). > > - Or check out [this recent attack which shows how Uniswap v3 liquidity pools can be manipulated](https://twitter.com/Mudit__Gupta/status/1455627465678749696). > > - More sinister is when [developers tweak the token contract to take your assets](https://twitter.com/r0bster97/status/1338182571558055937) or [remove a token's approval function](https://cryptot3ddybear.github.io/posts/scam-explained-bsc-noapproval/), preventing you from dumping the scamcoin you just bought. > > - Lastly, a DEX often requires users to approve or allow access to a given token before trading. [The default 'unlimited allowance' is convenient, but if exploited it... ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pfos3j/rcc_cointest_general_concepts_dex_conarguments/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find arguments on this topic in other rounds. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/ttir1a/monthly_skeptics_discussion_april_2022/).

Mine was Uniswap, when it was just launching it's UNI token. It mooned to it's ATH of $44 to become the top 5 crypto by market cap . It sucks that it's only $10 right now, yet it was always similar in price to DOT. I diversified to DOT, ONE, Banana and Matic, but UNI has a special place in my heart.

Mentions:#UNI#DOT#ONE

If things go rational it would be something like this: Eth Zksync Starknet Link UNI

Mentions:#UNI

Shill me your legit altcoin that got slaughtered and hasn't recovered yet. UNI looks tempting... Any others?

Mentions:#UNI

Lot more coins on that list that are down more than ADA - LTC, ALGO, UNI and others

Which one you think is more undervalued, UNI or THETA?

Mentions:#UNI#THETA

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the DEX Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and earn yield. > > That being said, there are some tradeoffs and limitations of interacting with DEXs to be aware of: > > ##Yo dawg, I heard you like decentralization > > - Decentralization can refer [to the protocol itself or to the governance and development of the protocol/platform](https://miro.medium.com/max/1304/0*epCTOVyxEmQq-AiU). > > - [Decentralization is a spectrum](https://nopara73.medium.com/few-words-on-decentralization-and-anonymous-payments-160782d30b9e) rather than a binary distinction. So a DEX may be [decentralized in some ways but centralized in others](https://www.coindesk.com/markets/2018/07/23/decentralized-exchanges-arent-living-up-to-their-name-and-data-proves-it/). Governance and developer control of a platform, for example, can vary wildly: > > >“Some have large control over their direction, others are governed by venture capital investors, and others have broader communities that vote in changes like an open source project.” > \- [Lex Sokolin, CMO and Global Fintech Co-Head, ConsenSys](https://cryptonews.com/exclusives/why-defi-isn-t-always-as-decentralized-as-you-might-think-7695.htm) > > - Users in the [Uniswap Con Cointest thread](https://np.reddit.com/r/CryptoCurrency/comments/og2r4t/rcryptocurrency_cointest_top_10_category_uniswap/) have articulated many of their concerns about whales and VC interests dominating UNI governance politics. > > - But I'll repeat the example of [Uniswap's unilateral decision to delist tokens](https://decrypt.co/76793/ethrereum-dex-uniswap-drops-tokenized-stocks-as-regulators-close-in) after facing regulatory scrutiny from the SEC. Even if a certain protocol is decentralized, the team can take actions to limit access. > > - Similarly, the DeFi community was not too pleased when Compound CEO Robert Leshner [threatened to doxx users](https://decrypt.co/82387/defi-community-blasts-compound-ceo-for-doxxed-comment) who didn't return COMP tokens after a protocol bug. > > - "Code is law. Unless we fuck up. Then we call the IRS on you." said [Blockstream CSO Samson Mow](https://nitter.com/Excellion/status/1443875126982840330). > > - Another concern would be seemingly decentralized platforms like Bancor having backdoors and the ability to freeze user funds ([which they did after a hack](https://techcrunch.com/2018/07/10/bancor-loses-23-5m/)). > > - [As LTC founder Charlie Lee stated](https://nitter.com/SatoshiLite/status/1016499756158234624): > > >"An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization." > > - [Or, as DOGE founder Jackson Palmer commented](https://medium.datadriveninvestor.com/the-lessons-learned-from-a-false-sense-of-decentralization-875b8c2731a6): > > >“The key thing here is not the hack itself — it’s the fact the Bancor team had the ability to freeze funds. How many other “decentralized” DApps have a built-in kill switch that’s centrally controlled?” > > - In removing gatekeepers and intermediaries, DEXs and AMMs promise a more level financial playing field than the permissioned, opaque system of centralized finance. > > - However, even when governance of an open source platform is 'fair' and decentralized, DEX users are exposed to some of the same financial fuckery inherent to CeFi, [such as front running](https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/). > > - There is no need for practices like [Robinhood's payment for order flow](https://web.archive.org/web/20210729220645/https://www.wsj.com/articles/robinhoods-debut-is-clouded-by-sec-scrutiny-of-payment-for-order-flow-11625655600) when trades are publicly broadcasted for the world to see: > > - "[Decentralized exchanges make it easier for anyone to exploit temporary market inefficiencies for a profit. In other words, it’s easier to front-run the market](https://blog.gnosis.pm/decentralized-exchanges-have-a-problem-7e6d81d91ba1)." > > > - "[Trades on decentralized exchanges \(DEX\) are sitting ducks while they remain idle in the processing queue. A small cohort of developers can and do take advantage of this lag time between hitting the trade button and the trade executing on-chain by front-running, back-running or 'sandwiching' a transaction.](https://www.yahoo.com/now/bad-sandwich-defi-trader-poisons-153336603.html)" > > > ##With mediocre UX comes great responsibility > > - DEXs are often not newbie friendly > > - There is a learning curve to self-custodying and creating a web wallet > > - Because of the immutability of blockchain transactions, it can be [easy for even savvy traders to learn an expensive lesson about human error](https://np.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/) > > - The process can be further intimidating when attempting to[ bridge assets on sidechains and L2s](https://ethhole.link/layer2) (and it is precisely smaller, newer traders who benefit most from[ lower fees](https://l2fees.info/)) > > - So it's not surprising that [many users - especially new market participants - would prefer to accept the counterparty risk of a custodial exchange](https://cointelegraph.com/news/coinbase-regains-1-position-on-apple-app-store-as-crypto-com-jumps-to-third) in return for a consumer oriented and streamlined user experience: > > - Given lack of KYC/AML, the majority of DEXs do not allow for onboarding/offboarding fiat and require users to touch a centralized exchange at some point if they want to get money in or out of 'the system'. > > - To go back to the Compound bug, Leshner clarified that his 'doxx' comment was in reference to DeFi users' interactions with centralized exchanges: > > > "[He said that anyone could identify the public Ethereum addresses that interact with the Compound protocol, and whether they engaged with popular exchanges like Coinbase that collect information about users.](https://www.nytimes.com/2021/10/04/business/dealbook/facebook-whistleblower-frances-haugen.html)" > > - Few DEXs natively offer the same level of trading functionality as centralized exchanges (e.g. limit orders, stop losses). > > - While centralized exchange users are primarily concerned with fees and spread, DEX users must also familiarize themselves with concepts like [slippage](https://academy.shrimpy.io/post/what-is-slippage-how-to-avoid-slippage-on-defi-exchanges) and [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained) > > - As the market becomes more saturated with DEX platforms and aggregators, it can be difficult for a lay user to evaluate competing promises of trustlessness and decentralization - or recognize when they're being exploited. > > - [Exit scams and rugpulls are prolific](https://decrypt.co/55787/defi-rug-pulls-were-cryptos-top-fraud-scheme-in-2020-ciphertrace) - newbies may find it challenging to verify if a DEX is legitimate, especially when dev teams are anonymous and many users lack technical proficiency to audit the protocol/smart contracts themselves. > > - While hacks and phishing risks aren't limited to DEXs, they expose [users to additional attack vectors](https://coinmarketcap.com/alexandria/article/how-to-identify-and-avoid-uniswap-scams): > > > - Given [the ease of creating \(copy/pasting\) and listing a token](https://www.nytimes.com/2021/08/05/business/hype-coins-cryptocurrency.html), it's no surprise that scamcoins abound on DEXs, many of which [spoof legitimacy](https://twitter.com/uniwhalesio/status/1357785710896545792). > > - E.g., [researchers identified over 10K scam tokens and scam liquidity pools on Uniswap V2](https://arxiv.org/abs/2109.00229). > > - Or check out [this recent attack which shows how Uniswap v3 liquidity pools can be manipulated](https://twitter.com/Mudit__Gupta/status/1455627465678749696). > > - More sinister is when [developers tweak the token contract to take your assets](https://twitter.com/r0bster97/status/1338182571558055937) or [remove a token's app... ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pfos3j/rcc_cointest_general_concepts_dex_conarguments/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find arguments on this topic in other rounds. You're invited to participate in this contest. Contestants are awarded moon prizes if they win. The moon prize allocations are 300 moons for 1st place, 150 moons for 2nd place, and 75 moons for 3rd place. Winners are also assigned special trophy flair which will be visible in r/CryptoCurrency and r/CointestOfficial. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/t40xg3/monthly_skeptics_discussion_march_2022/).

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won 1st place in the DEX Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and earn yield. > > That being said, there are some tradeoffs and limitations of interacting with DEXs to be aware of: > > ##Yo dawg, I heard you like decentralization > > - Decentralization can refer [to the protocol itself or to the governance and development of the protocol/platform](https://miro.medium.com/max/1304/0*epCTOVyxEmQq-AiU). > > - [Decentralization is a spectrum](https://nopara73.medium.com/few-words-on-decentralization-and-anonymous-payments-160782d30b9e) rather than a binary distinction. So a DEX may be [decentralized in some ways but centralized in others](https://www.coindesk.com/markets/2018/07/23/decentralized-exchanges-arent-living-up-to-their-name-and-data-proves-it/). Governance and developer control of a platform, for example, can vary wildly: > > >“Some have large control over their direction, others are governed by venture capital investors, and others have broader communities that vote in changes like an open source project.” > \- [Lex Sokolin, CMO and Global Fintech Co-Head, ConsenSys](https://cryptonews.com/exclusives/why-defi-isn-t-always-as-decentralized-as-you-might-think-7695.htm) > > - Users in the [Uniswap Con Cointest thread](https://np.reddit.com/r/CryptoCurrency/comments/og2r4t/rcryptocurrency_cointest_top_10_category_uniswap/) have articulated many of their concerns about whales and VC interests dominating UNI governance politics. > > - But I'll repeat the example of [Uniswap's unilateral decision to delist tokens](https://decrypt.co/76793/ethrereum-dex-uniswap-drops-tokenized-stocks-as-regulators-close-in) after facing regulatory scrutiny from the SEC. Even if a certain protocol is decentralized, the team can take actions to limit access. > > - Similarly, the DeFi community was not too pleased when Compound CEO Robert Leshner [threatened to doxx users](https://decrypt.co/82387/defi-community-blasts-compound-ceo-for-doxxed-comment) who didn't return COMP tokens after a protocol bug. > > - "Code is law. Unless we fuck up. Then we call the IRS on you." said [Blockstream CSO Samson Mow](https://nitter.com/Excellion/status/1443875126982840330). > > - Another concern would be seemingly decentralized platforms like Bancor having backdoors and the ability to freeze user funds ([which they did after a hack](https://techcrunch.com/2018/07/10/bancor-loses-23-5m/)). > > - [As LTC founder Charlie Lee stated](https://nitter.com/SatoshiLite/status/1016499756158234624): > > >"An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization." > > - [Or, as DOGE founder Jackson Palmer commented](https://medium.datadriveninvestor.com/the-lessons-learned-from-a-false-sense-of-decentralization-875b8c2731a6): > > >“The key thing here is not the hack itself — it’s the fact the Bancor team had the ability to freeze funds. How many other “decentralized” DApps have a built-in kill switch that’s centrally controlled?” > > - In removing gatekeepers and intermediaries, DEXs and AMMs promise a more level financial playing field than the permissioned, opaque system of centralized finance. > > - However, even when governance of an open source platform is 'fair' and decentralized, DEX users are exposed to some of the same financial fuckery inherent to CeFi, [such as front running](https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/). > > - There is no need for practices like [Robinhood's payment for order flow](https://web.archive.org/web/20210729220645/https://www.wsj.com/articles/robinhoods-debut-is-clouded-by-sec-scrutiny-of-payment-for-order-flow-11625655600) when trades are publicly broadcasted for the world to see: > > - "[Decentralized exchanges make it easier for anyone to exploit temporary market inefficiencies for a profit. In other words, it’s easier to front-run the market](https://blog.gnosis.pm/decentralized-exchanges-have-a-problem-7e6d81d91ba1)." > > > - "[Trades on decentralized exchanges \(DEX\) are sitting ducks while they remain idle in the processing queue. A small cohort of developers can and do take advantage of this lag time between hitting the trade button and the trade executing on-chain by front-running, back-running or 'sandwiching' a transaction.](https://www.yahoo.com/now/bad-sandwich-defi-trader-poisons-153336603.html)" > > > ##With mediocre UX comes great responsibility > > - DEXs are often not newbie friendly > > - There is a learning curve to self-custodying and creating a web wallet > > - Because of the immutability of blockchain transactions, it can be [easy for even savvy traders to learn an expensive lesson about human error](https://np.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/) > > - The process can be further intimidating when attempting to[ bridge assets on sidechains and L2s](https://ethhole.link/layer2) (and it is precisely smaller, newer traders who benefit most from[ lower fees](https://l2fees.info/)) > > - So it's not surprising that [many users - especially new market participants - would prefer to accept the counterparty risk of a custodial exchange](https://cointelegraph.com/news/coinbase-regains-1-position-on-apple-app-store-as-crypto-com-jumps-to-third) in return for a consumer oriented and streamlined user experience: > > - Given lack of KYC/AML, the majority of DEXs do not allow for onboarding/offboarding fiat and require users to touch a centralized exchange at some point if they want to get money in or out of 'the system'. > > - To go back to the Compound bug, Leshner clarified that his 'doxx' comment was in reference to DeFi users' interactions with centralized exchanges: > > > "[He said that anyone could identify the public Ethereum addresses that interact with the Compound protocol, and whether they engaged with popular exchanges like Coinbase that collect information about users.](https://www.nytimes.com/2021/10/04/business/dealbook/facebook-whistleblower-frances-haugen.html)" > > - Few DEXs natively offer the same level of trading functionality as centralized exchanges (e.g. limit orders, stop losses). > > - While centralized exchange users are primarily concerned with fees and spread, DEX users must also familiarize themselves with concepts like [slippage](https://academy.shrimpy.io/post/what-is-slippage-how-to-avoid-slippage-on-defi-exchanges) and [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained) > > - As the market becomes more saturated with DEX platforms and aggregators, it can be difficult for a lay user to evaluate competing promises of trustlessness and decentralization - or recognize when they're being exploited. > > - [Exit scams and rugpulls are prolific](https://decrypt.co/55787/defi-rug-pulls-were-cryptos-top-fraud-scheme-in-2020-ciphertrace) - newbies may find it challenging to verify if a DEX is legitimate, especially when dev teams are anonymous and many users lack technical proficiency to audit the protocol/smart contracts themselves. > > - While hacks and phishing risks aren't limited to DEXs, they expose [users to additional attack vectors](https://coinmarketcap.com/alexandria/article/how-to-identify-and-avoid-uniswap-scams): > > > - Given [the ease of creating \(copy/pasting\) and listing a token](https://www.nytimes.com/2021/08/05/business/hype-coins-cryptocurrency.html), it's no surprise that scamcoins abound on DEXs, many of which [spoof legitimacy](https://twitter.com/uniwhalesio/status/1357785710896545792). > > - E.g., [researchers identified over 10K scam tokens and scam liquidity pools on Uniswap V2](https://arxiv.org/abs/2109.00229). > > - Or check out [this recent attack which shows how Uniswap v3 liquidity pools can be manipulated](https://twitter.com/Mudit__Gupta/status/1455627465678749696). > > - More sinister is when [developers tweak the token contract to take your assets](https://twitter.com/r0bster97/status/1338182571558055937) or [remove a token's app... ***** Would you like to learn more? [Click here](/r/CryptoCurrency/comments/pfos3j/rcc_cointest_general_concepts_dex_conarguments/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find arguments on this topic in other rounds. You're invited to participate in this contest. Contestants are awarded moon prizes if they win. The moon prize allocations are 300 moons for 1st place, 150 moons for 2nd place, and 75 moons for 3rd place. Winners are also assigned special trophy flair which will be visible in r/CryptoCurrency and r/CointestOfficial. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/t40xg3/monthly_skeptics_discussion_march_2022/).

Here’s the full article: Crypto Giveaways Return With Many of Same Old Risks * Airdrops are one of the most popular marketing tools in crypto * Bored Ape NFT collectors are being given 150 million ApeCoins The crypto world is abuzz with tales of the virtual fortunes made and lost in recent weeks from the giveaway of ApeCoin, the cryptocurrency tied to the popular Bored Apes NFTs.   The 150 million “airdrop” of tokens to collectors of the Bored Ape Yacht Club and Mutant Ape Yacht Club projects may seem like a novel way to keep the excitement around the nonfungible tokens going. But it’s a long-time practice in the digital world. And one that doesn’t come without potential pitfalls once the euphoria fades. Airdrops have “proven to be a very effective tool for building community and momentum around a project,” crypto trading data firm Kaiko wrote in its newsletter on Monday. “However, airdrops are not without their risks.” The historical performance of airdropped tokens is mixed. Short-term prices of tokens have spiked -- followed by a steady decline -- after airdrops by major crypto projects including ApeCoin, decentralized exchange Uniswap, and the distributed naming project Ethereum Name Service, according to data compiled by Kaiko.   ApeCoin rose about 7% to $13.30 over the past 24 hours, according to CoinMarketCap.com data. An initial giveaway of about 30% of the coins was conducted March 17. The amount in circulation will increase at regular intervals over a 48-month period, raising the risk of diluting the value of the tokens awarded earlier.   After Uniswap’s airdrop in September 2020, the price of its UNI token rose to as high as $7.82 before it lost more than half its value over four days, according to CoinGecko data. UNI’s price remained below the $7.82 high until January 2021.  Large investors and creators of the project have been the big winners of the ApeCoin distribution. When the coin was launched, venture capital firms Andreessen Horowitz and Animoca Brands were part of a group that received a collective 14% of the drop, equivalent to about $2 billion at prevailing prices.       “I don’t think it’s wrong for founders and investors to receive some profit but how much they should receive is up for debate,” Thomas Dunleavy, a senior analyst at crypto firm Messari, said. The initial distribution of ApeCoin was designed in part to address some of these concerns. An Ethereum address labeled as dingaling.eth received 1.4 million ApeCoin tokens, the most among all holders that participated the airdrop, according to blockchain data firm Nansen. Data show that dingaling.eth and a few other top ApeCoin addresses sent a large amount of their ApeCoin to Uniswap to provide liquidity. This shows large ApeCoin holders are “optimistic” about its future, Martin Lee Poh Xin, a data journalist at Nansen, told Bloomberg. Holders decided to stake the tokens to an exchange to provide liquidity and earn rewards, instead of dumping them on the secondary market, he noted. More than 31,300 unique addresses on Ethereum have claimed their ApeCoin tokens, according to Nansen. ApeCoin is projected as playing a vital role in an anticipated metaverse project by Yuga Labs, the creator of the BAYC. ApeCoin will be the currency of the “Ape ecosystem,” while providing its holders the right to participate in the governance of a decentralized autonomous organization called ApeCoin DAO, according to its website. “It remains to be seen whether or not this is successful,” Messari’s Dunleavy said. But ApeCoin “certainly has momentum and clout other projects did not.”

Mentions:#UNI#DAO
r/CryptoCurrencySee Comment

Nice post OP. Especially in regards to the backing. A backing with zero diversity is always a red flag. This is why I never like Uniswap which has 99% of its treasury in $UNI and preferred things like bitdao wich has ETH, USDC, USDT and FTT. Makes the project fair better in a bear market as well

r/CryptoMarketsSee Comment

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won an award in the DEX Con-Arguments topic for a prior [Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and earn yield. > > That being said, there are some tradeoffs and limitations of interacting with DEXs to be aware of: > > ##Yo dawg, I heard you like decentralization > > - Decentralization can refer [to the protocol itself or to the governance and development of the protocol/platform](https://miro.medium.com/max/1304/0*epCTOVyxEmQq-AiU). > > - [Decentralization is a spectrum](https://nopara73.medium.com/few-words-on-decentralization-and-anonymous-payments-160782d30b9e) rather than a binary distinction. So a DEX may be [decentralized in some ways but centralized in others](https://www.coindesk.com/markets/2018/07/23/decentralized-exchanges-arent-living-up-to-their-name-and-data-proves-it/). Governance and developer control of a platform, for example, can vary wildly: > > >“Some have large control over their direction, others are governed by venture capital investors, and others have broader communities that vote in changes like an open source project.” > \- [Lex Sokolin, CMO and Global Fintech Co-Head, ConsenSys](https://cryptonews.com/exclusives/why-defi-isn-t-always-as-decentralized-as-you-might-think-7695.htm) > > - Users in the [Uniswap Con Cointest thread](https://np.reddit.com/r/CryptoCurrency/comments/og2r4t/rcryptocurrency_cointest_top_10_category_uniswap/) have articulated many of their concerns about whales and VC interests dominating UNI governance politics. > > - But I'll repeat the example of [Uniswap's unilateral decision to delist tokens](https://decrypt.co/76793/ethrereum-dex-uniswap-drops-tokenized-stocks-as-regulators-close-in) after facing regulatory scrutiny from the SEC. Even if a certain protocol is decentralized, the team can take actions to limit access. > > - Similarly, the DeFi community was not too pleased when Compound CEO Robert Leshner [threatened to doxx users](https://decrypt.co/82387/defi-community-blasts-compound-ceo-for-doxxed-comment) who didn't return COMP tokens after a protocol bug. > > - "Code is law. Unless we fuck up. Then we call the IRS on you." said [Blockstream CSO Samson Mow](https://nitter.com/Excellion/status/1443875126982840330). > > - Another concern would be seemingly decentralized platforms like Bancor having backdoors and the ability to freeze user funds ([which they did after a hack](https://techcrunch.com/2018/07/10/bancor-loses-23-5m/)). > > - [As LTC founder Charlie Lee stated](https://nitter.com/SatoshiLite/status/1016499756158234624): > > >"An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization." > > - [Or, as DOGE founder Jackson Palmer commented](https://medium.datadriveninvestor.com/the-lessons-learned-from-a-false-sense-of-decentralization-875b8c2731a6): > > >“The key thing here is not the hack itself — it’s the fact the Bancor team had the ability to freeze funds. How many other “decentralized” DApps have a built-in kill switch that’s centrally controlled?” > > - In removing gatekeepers and intermediaries, DEXs and AMMs promise a more level financial playing field than the permissioned, opaque system of centralized finance. > > - However, even when governance of an open source platform is 'fair' and decentralized, DEX users are exposed to some of the same financial fuckery inherent to CeFi, [such as front running](https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/). > > - There is no need for practices like [Robinhood's payment for order flow](https://web.archive.org/web/20210729220645/https://www.wsj.com/articles/robinhoods-debut-is-clouded-by-sec-scrutiny-of-payment-for-order-flow-11625655600) when trades are publicly broadcasted for the world to see: > > - "[Decentralized exchanges make it easier for anyone to exploit temporary market inefficiencies for a profit. In other words, it’s easier to front-run the market](https://blog.gnosis.pm/decentralized-exchanges-have-a-problem-7e6d81d91ba1)." > > > - "[Trades on decentralized exchanges \(DEX\) are sitting ducks while they remain idle in the processing queue. A small cohort of developers can and do take advantage of this lag time between hitting the trade button and the trade executing on-chain by front-running, back-running or 'sandwiching' a transaction.](https://www.yahoo.com/now/bad-sandwich-defi-trader-poisons-153336603.html)" > > > ##With mediocre UX comes great responsibility > > - DEXs are often not newbie friendly > > - There is a learning curve to self-custodying and creating a web wallet > > - Because of the immutability of blockchain transactions, it can be [easy for even savvy traders to learn an expensive lesson about human error](https://np.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/) > > - The process can be further intimidating when attempting to[ bridge assets on sidechains and L2s](https://ethhole.link/layer2) (and it is precisely smaller, newer traders who benefit most from[ lower fees](https://l2fees.info/)) > > - So it's not surprising that [many users - especially new market participants - would prefer to accept the counterparty risk of a custodial exchange](https://cointelegraph.com/news/coinbase-regains-1-position-on-apple-app-store-as-crypto-com-jumps-to-third) in return for a consumer oriented and streamlined user experience: > > - Given lack of KYC/AML, the majority of DEXs do not allow for onboarding/offboarding fiat and require users to touch a centralized exchange at some point if they want to get money in or out of 'the system'. > > - To go back to the Compound bug, Leshner clarified that his 'doxx' comment was in reference to DeFi users' interactions with centralized exchanges: > > > "[He said that anyone could identify the public Ethereum addresses that interact with the Compound protocol, and whether they engaged with popular exchanges like Coinbase that collect information about users.](https://www.nytimes.com/2021/10/04/business/dealbook/facebook-whistleblower-frances-haugen.html)" > > - Few DEXs natively offer the same level of trading functionality as centralized exchanges (e.g. limit orders, stop losses). > > - While centralized exchange users are primarily concerned with fees and spread, DEX users must also familiarize themselves with concepts like [slippage](https://academy.shrimpy.io/post/what-is-slippage-how-to-avoid-slippage-on-defi-exchanges) and [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained) > > - As the market becomes more saturated with DEX platforms and aggregators, it can be difficult for a lay user to evaluate competing promises of trustlessness and decentralization - or recognize when they're being exploited. > > - [Exit scams and rugpulls are prolific](https://decrypt.co/55787/defi-rug-pulls-were-cryptos-top-fraud-scheme-in-2020-ciphertrace) - newbies may find it challenging to verify if a DEX is legitimate, especially when dev teams are anonymous and many users lack technical proficiency to audit the protocol/smart contracts themselves. > > - While hacks and phishing risks aren't limited to DEXs, they expose [users to additional attack vectors](https://coinmarketcap.com/alexandria/article/how-to-identify-and-avoid-uniswap-scams): > > > - Given [the ease of creating \(copy/pasting\) and listing a token](https://www.nytimes.com/2021/08/05/business/hype-coins-cryptocurrency.html), it's no surprise that scamcoins abound on DEXs, many of which [spoof legitimacy](https://twitter.com/uniwhalesio/status/1357785710896545792). > > - E.g., [researchers identified over 10K scam tokens and scam liquidity pools on Uniswap V2](https://arxiv.org/abs/2109.00229). > > - Or check out [this recent attack which shows how Uniswap v3 liquidity pools can be manipulated](https://twitter.com/Mudit__Gupta/status/1455627465678749696). > > - More sinister is when [developers tweak the token contract to take your assets](https://twitter.com/r0bster97/status/1338182571558055937) or [remove a token's approval ... ***** Would you like to know more? [Click here](/r/CryptoCurrency/comments/pfos3j/rcc_cointest_general_concepts_dex_conarguments/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find arguments on this topic in other rounds. You're invited to participate in this contest. Winners are awarded moon prizes if they win. The moon prize allocations are 300 moons for 1st place, 150 moons for 2nd place, and 75 moons for 3rd place. Winners are also assigned special trophy flair which will be visible in r/CryptoCurrency and r/CointestOfficial. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/t40xg3/monthly_skeptics_discussion_march_2022/).

r/CryptoCurrencySee Comment

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won a Cointest award for DEX Con-Arguments in a prior [r/CC Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and earn yield. > > That being said, there are some tradeoffs and limitations of interacting with DEXs to be aware of: > > ##Yo dawg, I heard you like decentralization > > - Decentralization can refer [to the protocol itself or to the governance and development of the protocol/platform](https://miro.medium.com/max/1304/0*epCTOVyxEmQq-AiU). > > - [Decentralization is a spectrum](https://nopara73.medium.com/few-words-on-decentralization-and-anonymous-payments-160782d30b9e) rather than a binary distinction. So a DEX may be [decentralized in some ways but centralized in others](https://www.coindesk.com/markets/2018/07/23/decentralized-exchanges-arent-living-up-to-their-name-and-data-proves-it/). Governance and developer control of a platform, for example, can vary wildly: > > >“Some have large control over their direction, others are governed by venture capital investors, and others have broader communities that vote in changes like an open source project.” > \- [Lex Sokolin, CMO and Global Fintech Co-Head, ConsenSys](https://cryptonews.com/exclusives/why-defi-isn-t-always-as-decentralized-as-you-might-think-7695.htm) > > - Users in the [Uniswap Con Cointest thread](https://np.reddit.com/r/CryptoCurrency/comments/og2r4t/rcryptocurrency_cointest_top_10_category_uniswap/) have articulated many of their concerns about whales and VC interests dominating UNI governance politics. > > - But I'll repeat the example of [Uniswap's unilateral decision to delist tokens](https://decrypt.co/76793/ethrereum-dex-uniswap-drops-tokenized-stocks-as-regulators-close-in) after facing regulatory scrutiny from the SEC. Even if a certain protocol is decentralized, the team can take actions to limit access. > > - Similarly, the DeFi community was not too pleased when Compound CEO Robert Leshner [threatened to doxx users](https://decrypt.co/82387/defi-community-blasts-compound-ceo-for-doxxed-comment) who didn't return COMP tokens after a protocol bug. > > - "Code is law. Unless we fuck up. Then we call the IRS on you." said [Blockstream CSO Samson Mow](https://nitter.com/Excellion/status/1443875126982840330). > > - Another concern would be seemingly decentralized platforms like Bancor having backdoors and the ability to freeze user funds ([which they did after a hack](https://techcrunch.com/2018/07/10/bancor-loses-23-5m/)). > > - [As LTC founder Charlie Lee stated](https://nitter.com/SatoshiLite/status/1016499756158234624): > > >"An exchange is not decentralized if it can lose customer funds OR if it can freeze customer funds. Bancor can do BOTH. It's a false sense of decentralization." > > - [Or, as DOGE founder Jackson Palmer commented](https://medium.datadriveninvestor.com/the-lessons-learned-from-a-false-sense-of-decentralization-875b8c2731a6): > > >“The key thing here is not the hack itself — it’s the fact the Bancor team had the ability to freeze funds. How many other “decentralized” DApps have a built-in kill switch that’s centrally controlled?” > > - In removing gatekeepers and intermediaries, DEXs and AMMs promise a more level financial playing field than the permissioned, opaque system of centralized finance. > > - However, even when governance of an open source platform is 'fair' and decentralized, DEX users are exposed to some of the same financial fuckery inherent to CeFi, [such as front running](https://www.paradigm.xyz/2020/08/ethereum-is-a-dark-forest/). > > - There is no need for practices like [Robinhood's payment for order flow](https://web.archive.org/web/20210729220645/https://www.wsj.com/articles/robinhoods-debut-is-clouded-by-sec-scrutiny-of-payment-for-order-flow-11625655600) when trades are publicly broadcasted for the world to see: > > - "[Decentralized exchanges make it easier for anyone to exploit temporary market inefficiencies for a profit. In other words, it’s easier to front-run the market](https://blog.gnosis.pm/decentralized-exchanges-have-a-problem-7e6d81d91ba1)." > > > - "[Trades on decentralized exchanges \(DEX\) are sitting ducks while they remain idle in the processing queue. A small cohort of developers can and do take advantage of this lag time between hitting the trade button and the trade executing on-chain by front-running, back-running or 'sandwiching' a transaction.](https://www.yahoo.com/now/bad-sandwich-defi-trader-poisons-153336603.html)" > > > ##With mediocre UX comes great responsibility > > - DEXs are often not newbie friendly > > - There is a learning curve to self-custodying and creating a web wallet > > - Because of the immutability of blockchain transactions, it can be [easy for even savvy traders to learn an expensive lesson about human error](https://np.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/) > > - The process can be further intimidating when attempting to[ bridge assets on sidechains and L2s](https://ethhole.link/layer2) (and it is precisely smaller, newer traders who benefit most from[ lower fees](https://l2fees.info/)) > > - So it's not surprising that [many users - especially new market participants - would prefer to accept the counterparty risk of a custodial exchange](https://cointelegraph.com/news/coinbase-regains-1-position-on-apple-app-store-as-crypto-com-jumps-to-third) in return for a consumer oriented and streamlined user experience: > > - Given lack of KYC/AML, the majority of DEXs do not allow for onboarding/offboarding fiat and require users to touch a centralized exchange at some point if they want to get money in or out of 'the system'. > > - To go back to the Compound bug, Leshner clarified that his 'doxx' comment was in reference to DeFi users' interactions with centralized exchanges: > > > "[He said that anyone could identify the public Ethereum addresses that interact with the Compound protocol, and whether they engaged with popular exchanges like Coinbase that collect information about users.](https://www.nytimes.com/2021/10/04/business/dealbook/facebook-whistleblower-frances-haugen.html)" > > - Few DEXs natively offer the same level of trading functionality as centralized exchanges (e.g. limit orders, stop losses). > > - While centralized exchange users are primarily concerned with fees and spread, DEX users must also familiarize themselves with concepts like [slippage](https://academy.shrimpy.io/post/what-is-slippage-how-to-avoid-slippage-on-defi-exchanges) and [impermanent loss](https://academy.binance.com/en/articles/impermanent-loss-explained) > > - As the market becomes more saturated with DEX platforms and aggregators, it can be difficult for a lay user to evaluate competing promises of trustlessness and decentralization - or recognize when they're being exploited. > > - [Exit scams and rugpulls are prolific](https://decrypt.co/55787/defi-rug-pulls-were-cryptos-top-fraud-scheme-in-2020-ciphertrace) - newbies may find it challenging to verify if a DEX is legitimate, especially when dev teams are anonymous and many users lack technical proficiency to audit the protocol/smart contracts themselves. > > - While hacks and phishing risks aren't limited to DEXs, they expose [users to additional attack vectors](https://coinmarketcap.com/alexandria/article/how-to-identify-and-avoid-uniswap-scams): > > > - Given [the ease of creating \(copy/pasting\) and listing a token](https://www.nytimes.com/2021/08/05/business/hype-coins-cryptocurrency.html), it's no surprise that scamcoins abound on DEXs, many of which [spoof legitimacy](https://twitter.com/uniwhalesio/status/1357785710896545792). > > - E.g., [researchers identified over 10K scam tokens and scam liquidity pools on Uniswap V2](https://arxiv.org/abs/2109.00229). > > - Or check out [this recent attack which shows how Uniswap v3 liquidity pools can be manipulated](https://twitter.com/Mudit__Gupta/status/1455627465678749696). > > - More sinister is when [developers tweak the token contract to take your assets](https://twitter.com/r0bster97/status/1338182571558055937) or [remove a token's approv... ***** Would you like to know more? [Click here](/r/CryptoCurrency/comments/pfos3j/rcc_cointest_general_concepts_dex_conarguments/) to be taken to the original topic-thread or you can scan through the [Cointest archive](/r/CointestOfficial/wiki/cointest_archive#wiki_DEX) to find arguments on this topic in other rounds. You're invited to participate in this contest. Winners are awarded moon prizes if they win. The moon prize allocations are 300 moons for 1st place, 150 moons for 2nd place, and 75 moons for 3rd place. Winners are also assigned special trophy flair which will be visible in r/CryptoCurrency and r/CointestOfficial. Since this is a con-argument, what could be a better time to promote the Skeptics Discussion thread? You can find the latest thread [here](/r/CryptoCurrency/comments/t40xg3/monthly_skeptics_discussion_march_2022/).

r/CryptoCurrencySee Comment

#DEX Con-Arguments Below is an argument written by MrMoustacheMan which won 1st place for DEX Con-Arguments in a prior [r/CC Cointest](/r/CointestOfficial/wiki/cointest_policy) round. > #DEX - Con Argument > > *Disclosure - I currently hold several DEX governance tokens, ~5% of my current portfolio value* > > ##What are decentralized exchanges and automated market makers? > > * (1) Intro: https://decrypt.co/resources/what-is-decentralized-exchange-dex > > * (2) Vitalik's original Reddit post: https://np.reddit.com/r/ethereum/comments/55m04x/lets_run_onchain_decentralized_exchanges_the_way/ > > ##DEX caveats > > I'm extremely bullish on [DeFi](https://decrypt.co/resources/defi-ultimate-beginners-guide-decentralized-finance) and believe DEXs specifically hold great promise in terms of: reducing counterparty risk, preserving anonymity and removing barriers to entry for users looking to trade and ear