The decentralized exchange, Uniswap is giving the funds to past users of Genie, the NFT marketplace aggregator it acquired in June.
Users can now trade nonfungible tokens, or NFTs, on the native protocol of decentralized exchange (DEX) Uniswap, according to a recent post from that day. The function, according to Uniswap, will initially offer NFT collections for sale on websites like OpenSea, X2Y2, LooksRare, Sudoswap, Larva Labs, X2Y2, Foundation, NFT20, and NFTX.
“To bring users the first-rate experience they’ve come to expect with Uniswap, we built the aggregator to deliver better prices, faster indexing, more unassailable smart contracts, and efficient execution.”
Users of Uniswap NFT, according to the company’s developers, can save up to 15% on gas costs when compared to those of other NFT aggregators. incorporates NFT swapping and ERC20 swapping into a single swap router. Users can swap multiple tokens and NFTs in a single swap while saving on gas costs thanks to Permit2’s integration.
The Universal Router smart contract and UX smart contract Permit2, both created by Uniswap, power and optimize the NFT aggregator. In line with the DEX, it “integrates NFT swapping and ERC-20 swapping into a single swap router. Users can swap multiple tokens and NFTs in a single swap while saving on gas costs thanks to Permit2’s integration.”
“We originally conceived Permit2 and Universal Router to improve our own products, optimizing gas costs, simplifying user transaction flows, and strengthening security. As we ideated, we realized that other applications could greatly benefit from integrating these contracts.”
According to Uniswap, as part of its launch initiatives, it would airdrop roughly 5 million USDC to a select group of past NFT aggregator Genie customers, based on a wallet snapshot taken on April 15, 2022, and will provide gas rebates to the first 22,000 NFT users. However, the gas rebate is limited to 0.01 ether and will only last for two weeks (ETH).