Ok, well, I’m going to be honest, this article was basically written, reviewed, edited. spell-checked, and about to be posted, and then we got the news… Uranium is now listed on 1inch !
Now the lowest swap fee AMM is officially available on the #1 aggregator on BSC !
This will bring us more trading volume as 1inch routes trades through Uranium, and a whole lot more attention too. More attention means more people adding liquidity on our pairs and which makes Uranium an even better place to trade !
We could probably go on all day about the 1inch integration but we’re pretty sure it’ll speak for itself. So, we’ll now return to our original planned article:
Hey all, time for breakdown of the past, present and future.
Let’s start with what’s happened in the last 10 days — which has felt like months for the most loyal of you, and years for us working behind the scenes.
Uranium V2 launched on April 16th and we quickly gained 70M TVL in the first day. We had a TVL ATH of about 105M on day 3, and we’re now sitting comfortably at ~80M on day 10.
We hate to be the ones calling our platform undervalued, but when we compare Uranium to the other AMMs and DeFi projects out there, it’s obvious to see that our MC (Market Cap) is crazy low in relation to our TVL and DV (Daily Volume). Check out this chart for some easy comparisons:
We’ve been super busy back here, working on new features and improving existing ones, and it’s time to shed some more light on what we’ve been up to and what you can expect in the near future.
Now that our platform is proven to be successful and stable, we’ve started pushing to get the word out there to gain interest from more aggregators, partners, traders and investors:
- We’ve recruited two new team members to focus on communication, partnerships, and marketing in general.
- We’ve reached out to all DEX aggregators on BSC to get Uranium listed so people can start trading with our lower fees via the likes of 1inch, Matcha, LaunchZone etc. We’ve provided all the necessary technical information and it’s now a waiting game for them to implement our DEX on their platform. The recent poorly executed PancakeSwap migration has consumed the majority of the BSC DeFi communities bandwidth, so some patience is required while everyone recovers.
- We’ve been working on our partnership listing offer, and some projects are already DMing us to get listed on Uranium. We expect to see some partner tokens listed on our pairs soon which will bring new attention and trading volume to the platform.
- We have a marketing campaign in the works, including more visibility on crypto platforms, press releases and getting some sponsoring
- We’ve also run our first Twitter giveaway campaign which so far has had over 45K views and 2K engagements in only 24 hours.
As mentioned previously, we’re building new features and we do apologize for this blatant tease, but given the nature of the space we are operating in, a tease is all we can offer for now. We need to maintain our competitive edge and keep this stuff closely guarded until it’s ready for release. What we can promise you though is:
- At least one of these new features (but possibly two) will launch this week
- The new feature announcement should come on Tuesday (27.4.21)
- The new features will bring more funds to the money pot, and bring more TVL at the same time — and no, it’s not just new farming pairs FYI
- The new features will be great for both long term holders and those just looking for short term profit
As we’re hoping you can imagine, dealing with the V1 compensations has been an incredibly challenging and time consuming endeavour as every application needed to be processed and fully reviewed. We apologize for the delay and that it was necessary in the first place, but we’re looking forward to putting it all behind us and moving on.
All compensation funds will be sent today (26.4.2021) along with the final distribution of the recovered V1 funds.
For some further transparency and to get ahead of potential complaints, please consider these factors:
- Some people sold their U92 and bought again just after so they were only affected by the 2% transaction tax — most people affected by the exploit lost far more value than that at the time
- With the nature of blockchain transaction history, it would have taken us too long to go through the whole list to find out if someone who panic sold initially bought at $150 or $50
- We couldn’t simply compensate every application that came in. Some were blatantly not affected and were simply after free U92 and others were just outside the margins of acceptability. We had to make a hard decision and draw the line for who to compensate and who not.
- We checked every sell during the designated time window and the average price was ~$20.
The final decision: We’re sending back 25% of the panic sold tokens at a price of ~$40. In amount of tokens, that’s a 25% compensation, in $ value it’s ~50% — given that U92 is currently worth more than double what it was at the time of the panic selling.
MoneyPot / U235:
- As promised, all of the 1.2M of recovered funds from v1 have been distributed throughout the week, as we committed to do.
- We still have ~350k in the bonus money pot that will be used with parsimony.
- Money Pots will continue as designed but with our current deposit and trade volume, the Money Pot values over the next few days will be lower than what people have experienced over the last 10 days.
- We want people to remember that although the value of the Money Pots will be lower than they have been recently, they will rise again once we are listed on more aggregators and our new features are released.
- Also as mentioned previously, we are building in some new utility for U92 and U235, so receiving dividends from the Money Pots is not the only reason to keep farming and holding onto U235. As per our standard discretion though we can’t say what that additional utility is yet.
Lastly, we want to remind everyone again what we are building here — an AMM to compete with the top players on BSC with a unique shareholder token and dividend rewards. It’s a big goal, and although we’ve already achieved so much in just 10 days, we — and the related platforms and partners — do need time to keep building, marketing, problem-solving and communicating with our community.
To anyone doubting our ability to reach that goal, I leave you with this famous quote:
“It always seems impossible until it is done.” — Nelson Mandela