Uniswap now allows users to buy cryptocurrency using their mobile app with the integration of Robinhood Connect.
U.S. consumers were able to purchase cryptocurrency using their Robinhood accounts, debit cards, or bank transfers, as stated in a recent release by decentralized exchange Uniswap.
When new Robinhood Connect users spend at least $10 on cryptocurrency using the Uniswap app, they will get $10 in USDC as a bonus. The purpose of this promotion is to entice new users to join the site.
Uniswap users may utilize Robinhood Connect to acquire cryptocurrency by tapping the buy symbol on the app. After that, users input the money and choose the cryptocurrency they want to buy.
Users in the US will only be able to use Robinhood Connect after clicking “Continue,” which will then provide a list of providers customised to their location.
In order to finish the purchase, users need to choose Robinhood Connect as their supplier. Additionally, from 0.15% to 0.25%, Uniswap Labs increased its trading costs. Although stablecoin swaps and transactions between Wrapped Ethereum and Ethereum were spared from this hike, it did apply to the majority of transactions on the mainnet and Layer 2 networks.
Users might access the Uniswap protocol and complete transactions using different interfaces to avoid additional costs.
Regulators were looking more closely at Uniswap at the same time. Hayden Adams, creator of the firm, made an announcement after receiving a Wells Notice from the SEC, which indicates that the company may face legal action for operating as an unregistered exchange.
According to Adams, Uniswap Labs is mostly involved in software development and is crucial to the Uniswap protocol’s continued evolution.
The community rejected a governance proposal in March 2024 that would have changed the platform’s cost structure and allowed UNI token holders to share earnings.
In an effort to bring about the much-anticipated “fee-switch” feature, the proposal aimed to provide the decentralized autonomous organization (DAO) the authority to modify the fee mechanism.
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