UNIUSD definition

UNIUSD is the market symbol for Uniswap (UNI) priced in US dollars, where UNI is the governance token of the Uniswap decentralised exchange and USD is the US dollar. The quote shows how many US dollars buy one UNI. Uniswap is a protocol on Ethereum that lets users swap tokens directly with one another without a central intermediary.

A UNIUSD trade is a crypto CFD, a bet on the token's price rather than a purchase of UNI to hold in a wallet. A long position gains if UNI rises, and a short position gains if it falls. The pair is priced in US dollars, trades at all hours, and can move sharply with the rest of the crypto market.

UNI is primarily a governance token, giving holders a say in decisions about the Uniswap protocol, so it is best not confused with a direct claim on the exchange's revenue. Its price tends to track trading activity on decentralised exchanges, the health of decentralised finance more broadly, regulatory developments affecting the sector, and the price of Bitcoin.