Users criticize Uniswap’s decision to remove more than 100 tokens from the main interface

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The largest decentralized exchange (dex) platform, in terms of trading volume, Uniswap revealed that the dex has removed a number of tokens from the platform’s interface. The community assumes that the tokens could be considered securities by global regulators. Uniswap users can still redeem these tokens by accessing specific smart contracts themselves, as the company behind the platform, Uniswap Labs, simply removed the tokens from the main interface.

Uniswap Removes Tokens From Main UI, Users Discuss Alternative Solutions

On July 23, startup Uniswap Labs announced that the development team was removing around 129 tokens from the main interface. Onlookers noted that a number of the removed tokens could be considered securities by global regulators and some of them were synthetic stock tokens.

Uniswap introduced token censorship on the main user interface

You can see a list of 129 hidden tokens here https://t.co/G9yjycH2F7

– banteg (@bantg) July 23, 2021

The restriction on access to these specific tokens comes from app.uniswap.org, but users can still work around the issue and redeem using the token contract. The Uniswap Labs token removal announcement doesn’t really explain why the tokens were removed, but the company’s blog post read:

These tokens have always represented a very small portion of the overall volume on the Uniswap protocol.

Some of these tokens are derived from protocols like Synthetix, Tether, Opyn, UMA, etc. A Twitter user named “Banteg” discussed the issue and said, “It looks like all UMA, Synthetix, Mirror, Opyn tokens are affected. Even if you add them manually, you cannot trade them on the main one [Uniswap] User interface. However, in Banteg’s Twitter thread, the crypto community shared a myriad of ways to bypass Uniswap’s main user interface.

Defi Promoter: “This is a wake-up call – Decentralized Bookmark Interfaces”

A number of crypto supporters have criticized Uniswap’s move and believe other decentralized finance (challenge) platforms could do the same. Joey Krug, co-CIO of Pantera Capital and co-founder of Augur tweeted that he liked Uniswap “But that defines [a] very bad IMO precedent. Krug also added that this “will not be the first case of censorship challenge.” Defi supporter Nick Chong said people should start bookmarking decentralized interfaces and mirror apps. Chong added:

The world needs decentralized interfaces. Wouldn’t it have been bad if all the non-powerful user challenge traders one day woke up and the Uniswap Labs interface was gone without an alternative? This is a wake-up call. Mark the decentralized interfaces. Make them Lindy.

The creator of the popular Yearn Finance challenge project, Andre Cronje also provided his thoughts on Uniswap’s situation. “My unsolicited advice; Uniswap, a US registered company Uniswap.org, a website owned by the US entity. Uniswap smart contracts, decentralized code. The company must act in its best interest, including censoring the website where it is in its best interest, ”Cronje said.

What do you think about Uniswap removing 129 tokens from the main user interface? Let us know what you think of this decision in the comments section below.

Tags in this story 129 tokens, alternatives, Andre Cronje, Banteg, Decentralized interfaces, DeFi, Dex platforms, Joey Krug, mirror interfaces, mirrors, Nick Chong, Opyn, Synthetix, Tether, UMA, uniswap, Uniswap Labs, Uniswap token removal , Uniswap Trade

Image credits: Shutterstock, Pixabay, Wiki Commons

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