In the midst of the crypto crash, Uniswap announced its acquisition of the well-known NFT aggregator Genie. It is not uncommon for crypto projects to join forces, or to even benefit from the popularity of others. The community of Genie will also benefit from an Airdrop. When will the Uniswap airdrop happen and what are the requirements? Let’s explain further.
What is Uniswap?
Built on Ethereum smart contracts, Uniswap is a decentralized exchange (DEX). The project is uncomplicated. While maintaining complete custody of the assets—that is, without giving custody to a centralized third party—it allows the exchange of ERC-20 currencies for ETH or other ERC-20 coins. The security of the smart contracts themselves is the only thing that has to be trusted.
What is Genie NFT?
There are many cryptocurrency aggregators that combine all tokens and list them based on prices and other features. However, when NFTs first surfaced, they started to trade on different NFT exchanges. People couldn’t know the exact price of NFTs and compare them across all marketplaces. That’s where the need for NFT aggregators came to be.
Genie is an NFT marketplace aggregator that combines different NFT collections from different NFT marketplaces such as Opensea, and gives valuable information.
Uniswap announced its acquisition of Genie
In anticipation for their Web 3.0 expansion, Uniswap announced their acquisition of Genie. This isn’t their first venture into the NFT world, as they previously launched Unisocks, an NFT liquidity pool and NFT backed by real world assets. Their Genie acquisiation will help them integrate NFTs into their Uniswap web app, then through APIs and widgets.
When will Uniswap Airdrop happen?
To welcome the Genie community into the Uniswap ecosystem, Uniswap will airdrop USDC tokens to anyone who made more than one swap until April 15th, 2022 or was holding the Genie Genesis NFT prior to that same date. The airdrop will happen sometime in August 2022, but we received no further information about the airdrop. Stay tuned to CryptoTicker’s announcements by following us on Google News.
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This article originally appeared on https://cryptoticker.io/en/uniswap-buys-genie-nft-usdc-airdrop/