{"id":10812,"date":"2023-08-05T03:18:06","date_gmt":"2023-08-05T03:18:06","guid":{"rendered":"https:\/\/www.bitnovo.com\/blog\/?p=10812"},"modified":"2025-09-10T15:21:24","modified_gmt":"2025-09-10T15:21:24","slug":"how-to-mine-uniswap-uni","status":"publish","type":"post","link":"https:\/\/www.bitnovo.com\/blog\/en\/how-to-mine-uniswap-uni","title":{"rendered":"How to mine Uniswap (UNI)?"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-transparent ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Alternar tabla de contenidos\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #ffffff;color:#ffffff\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #ffffff;color:#ffffff\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/how-to-mine-uniswap-uni\/#what_is_uniswap\" >What is Uniswap?\u00a0<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/how-to-mine-uniswap-uni\/#uni_the_native_uniswap_network_token\" >UNI: the native Uniswap network token<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/how-to-mine-uniswap-uni\/#how_to_mine_uni\" >How to mine UNI?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.bitnovo.com\/blog\/en\/how-to-mine-uniswap-uni\/#uni_wallet\" >UNI Wallet<\/a><\/li><\/ul><\/nav><\/div>\n<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 3<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span><div class=\"col small-12 large-12\">\n<div class=\"col-inner\">\n<h2 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"what_is_uniswap\"><\/span><strong>What is Uniswap?\u00a0<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: left;\">Created in 2018 by Hayden Adams with $100,000 in funding, Uniswap is a decentralized cryptocurrency exchange (DEX) that runs on the Ethereum blockchain and allows anyone to exchange ERC20 tokens.<\/p>\n<p style=\"text-align: left;\"><b>Uniswap seeks to solve the liquidity problem of decentralized exchanges\u00a0<\/b>and achieves this by allowing its users to exchange tokens without relying on buyers and sellers to create that liquidity.<\/p>\n<p style=\"text-align: left;\">Here\u2019s a quick look at how it works and how to mine Uniswap to earn your UNI tokens.<\/p>\n<p style=\"text-align: left;\">It is interesting to know that, in its beginnings, Uniswap did not have a business model capable of bringing revenue for its creators and, in fact, it was put on the Ethereum platform for public use.\u00a0<strong>In 2020 it launched its second version (Uniswap V2) and has currently launched its third version (Uniswap V3).<\/strong><\/p>\n<p style=\"text-align: left;\">\n<\/div>\n<\/div>\n<div class=\"col small-12 large-12\">\n<div class=\"col-inner text-center\">\n<h2 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"uni_the_native_uniswap_network_token\"><\/span>UNI: the native Uniswap network token<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p style=\"text-align: left;\">In September 2020, Uniswap launched its second version and\u00a0<strong>its own governance token, UNI,<\/strong>\u00a0with an airdrop in which it gave away 400 tokens to each wallet address that had interacted with the Uniswap protocol before September 1.<\/p>\n<p style=\"text-align: left;\">UNI is not distributed through a token sale, but rather the token is distributed to users who participate in the network and provide liquidity to eligible markets in Uniswap.<\/p>\n<p style=\"text-align: left;\">Uniswap plans to distribute a limited total of UNI 1 billion over four years, with 60% earmarked for distribution to the community, 21.5% allocated to Uniswap employees and the remaining 18.5% going to investors and advisors.<\/p>\n<p style=\"text-align: left;\">As a governance token,\u00a0<strong>UNI entitles holders to vote<\/strong>\u00a0on how the protocol is run. This means that only UNI holders can vote on changes to the protocol related to:<\/p>\n<ul style=\"text-align: left;\">\n<li aria-level=\"1\">Use of UNI\u2019s community treasury<\/li>\n<li aria-level=\"1\">Changes in the protocol fee<\/li>\n<li aria-level=\"1\">eth ENS<\/li>\n<li aria-level=\"1\">Default list of Uniswap and SOCKS liquidity tokens.<\/li>\n<\/ul>\n<h2 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"how_to_mine_uni\"><\/span>How to mine UNI?<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div id=\"row-611682830\" class=\"row\">\n<div class=\"col small-12 large-12\">\n<div class=\"col-inner text-center\">\n<p style=\"text-align: left;\">If you haven\u2019t yet read\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/uniswap-2020-guide-the-most-used-dex-of-ethereum\/\">the full guide to Uniswap<\/a>\u00a0on the Bitnovo blog, it\u2019s important to know that the distribution of UNI tokens occurs through<strong>\u00a0liquidity mining and not through<\/strong>\u00a0mining as we traditionally know it in cryptocurrencies like Bitcoin.<\/p>\n<p style=\"text-align: left;\">Liquidity mining, also known as\u00a0<a href=\"https:\/\/www.bitnovo.com\/blog\/en\/what-is-yield-farming-of-cryptocurrencies\/\">yield farming<\/a>, works like this:<\/p>\n<p style=\"text-align: left;\">Decentralized exchanges (DEX) need liquidity to function. Users holding tokens are the ones who provide funds or liquidity (LP) to the DEX. DEXs reward and reward users who enable their operation with their capital.<\/p>\n<p style=\"text-align: left;\">In other words, by simply leaving our funds locked in one of the decentralized platforms, we are contributing to their operation and, in return, we can earn commission rewards on one or more tokens ( ex. UNI) and generate passive income by leaving our tokens in a liquidity pool.<\/p>\n<ul style=\"text-align: left;\">\n<li aria-level=\"1\">By depositing liquidity into a pool, unique tokens known as\u00a0<strong>liquidity tokens are created and sent to the liquidity provider\u2019s address<\/strong>\u00a0as a reward for their contribution to a pool.<\/li>\n<\/ul>\n<ul style=\"text-align: left;\">\n<li aria-level=\"1\">Each liquidity provider will receive an amount of tokens proportional to the liquidity provided to the pool.<\/li>\n<\/ul>\n<ul style=\"text-align: left;\">\n<li aria-level=\"1\">In addition, when a transaction is completed,\u00a0<strong>a 0.3% fee is applied to the sender of the transaction<\/strong>. This fee is distributed proportionally to all LPs in the group upon completion of the transaction.<\/li>\n<li aria-level=\"1\">To recover the underlying liquidity, plus accrued fees,\u00a0<strong>liquidity providers must \u201cburn\u201d their liquidity tokens<\/strong>, effectively exchanging them for their share of the liquidity pool.<\/li>\n<\/ul>\n<p style=\"text-align: left;\">So, if you want to earn passive income from Uniswap, you just have to access\u00a0<a href=\"https:\/\/app.uniswap.org\/#\/swap\">Uniswap DEX<\/a>\u00a0and connect one of the wallets listed on the platform.<\/p>\n<h2 style=\"text-align: left;\"><span class=\"ez-toc-section\" id=\"uni_wallet\"><\/span>UNI Wallet<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<div id=\"row-945267915\" class=\"row\" style=\"text-align: left;\">\n<div class=\"col small-12 large-12\">\n<div class=\"col-inner text-center\">\n<div id=\"image_858135032\" class=\"img has-hover x md-x lg-x y md-y lg-y\">\n<div class=\"img-inner dark\"><img fetchpriority=\"high\" decoding=\"async\" class=\"attachment-large size-large lazyloaded smush-detected-img smush-image-2\" src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/05\/C%C3%B3mo-minar-Uniswap1.jpg\" sizes=\"(max-width: 768px) 100vw, 768px\" srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/05\/C\u00f3mo-minar-Uniswap1.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/05\/C\u00f3mo-minar-Uniswap1-300x205.jpg 300w\" alt=\"wallet de uniswap\" width=\"768\" height=\"526\" data-srcset=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/05\/C\u00f3mo-minar-Uniswap1.jpg 768w, https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/05\/C\u00f3mo-minar-Uniswap1-300x205.jpg 300w\" data-src=\"https:\/\/www.bitnovo.com\/blog\/wp-content\/uploads\/2021\/05\/C\u00f3mo-minar-Uniswap1.jpg\" data-sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<p style=\"text-align: left;\">Uniswap allows users to connect their wallets directly to the exchange.<\/p>\n<p style=\"text-align: left;\">So, if you want to start contributing to the Uniswap network and provide liquidity, just connect your wallet to the platform by clicking on \u2018connect to a wallet\u2019 at the top right.<\/p>\n<p style=\"text-align: left;\">You will be presented with a list of supported Uniswap compatible wallets.<\/p>\n<p style=\"text-align: left;\">At the moment the supported wallets are:<\/p>\n<ul style=\"text-align: left;\">\n<li aria-level=\"1\">MetaMask;<\/li>\n<li aria-level=\"1\">WalletConnect;<\/li>\n<li aria-level=\"1\">Coinbase Wallet;<\/li>\n<li aria-level=\"1\">Fortmatic;<\/li>\n<li aria-level=\"1\">Portis.<\/li>\n<\/ul>\n<p style=\"text-align: left;\">Once your wallet is connected, you are ready to earn your UNI TOKENS.<\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Tiempo de lectura:<\/span> <span class=\"rt-time\"> 3<\/span> <span class=\"rt-label rt-postfix\">minutos<\/span><\/span>What is Uniswap?\u00a0 Created in 2018 by Hayden Adams with $100,000 in funding, Uniswap is a decentralized cryptocurrency exchange (DEX) that runs on the Ethereum blockchain and allows anyone to exchange ERC20 tokens. Uniswap seeks to solve the liquidity problem of decentralized exchanges\u00a0and achieves this by allowing its users to exchange tokens without relying on [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":7164,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[165],"tags":[],"class_list":["post-10812","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrencies"],"_links":{"self":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10812","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/comments?post=10812"}],"version-history":[{"count":2,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10812\/revisions"}],"predecessor-version":[{"id":24613,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/posts\/10812\/revisions\/24613"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media\/7164"}],"wp:attachment":[{"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/media?parent=10812"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/categories?post=10812"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitnovo.com\/blog\/wp-json\/wp\/v2\/tags?post=10812"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}