Uniswap, the popular Ethereum-based decentralized exchange, is once again thought to be too centralized for some. A token project launched, messed up the protocol’s data aggregator and forced a reaction from Uniswap that is now raising questions about what level of control creators can exercise in crypto.
In short: Delta Financial is a new token project looking to solve liquidity problems in decentralized options trading. The DELTA token launched on Uniswap on March 28. A day later, Uniswap’s total volume had exploded 450% to $7.17 billion (up from $1.6 billion the day before, and more than triple the previous record high of $2.19 billion set Oct. 26, 2020). This information is all based on reporting from Decrypt, due to what happened next.
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Determining that this growth was organic, though perhaps inauthentic, Uniswap’s developers issued a hotfix to remove Delta’s data from its blockchain explorer, Uniswap.info, under a “fix for scammy tokens.” Though the token itself remains available to trade on the decentralized exchange, querying for its trading activity returns “🤔.” Etherscan is also blank.
The situation speaks to the difficulty of determining what the “public good” is in decentralized ecosystems. There’s tension among creators of