The decision by the Uniswap team to incorporate NFT trading may prove fruitful. Moreover, users can claim a gas rebate in USDC when they purchase a non-fungible token from the platform. So far, there is a healthy interest in this launch, although it remains tricky to compete with other marketplaces.
Uniswap Officially Supports NFTs
The leading decentralized exchange (DEX) on the Ethereum blockchain continues to pursue broader dominance. Rather than solely focusing on asset trading, the DEX now supports NFT trading. Non-fungible tokens remain a tremendous market, primarily on Ethereum. It makes sense to incorporate the option into Uniswap, which has a steep user base of active traders looking to maximize their returns. Non-fungible tokens are highly speculative first and foremost.
In addition to supporting NFTs, Uniswap rolled out a Gas Rebate Promotion. It runs until December 14, 2022, and claims can be made starting January 16, 2023. All rebates will be settled in ETH. The first 22,000 unique wallets purchasing an NFT from Uniswap will qualify for the rebate, but only on their first transaction. That includes partial transactions but not failed network transfers. In addition, the limit is 0,01 ETH worth of gas per transaction, regardless of paying more on transaction fees.
A Dune Analytics dashboard tracks these rebates and their overall “value”. So far, the average rebate is 0.00420 ETH. That confirms it is very cheap to use the Ethereum network today. Things were very different not that long ago, with users paying over $150 in gas fees to do anything. Uniswap will issue over 2 ETH in gas rebates, although that number will likely increase in the next two weeks.
More specifically, 495 eligible addresses have been recorded so far. That is less than one may think. If anything, it shows many people are unaware Uniswap supports NFTs, or most don’t care. However, it is still early in the campaign, and the other goodies to be collected on the DEX hold far more attention.
Free USDC For Genie Holders and Users
Coinciding with the NFT trading launch, Uniswap users can claim free USDC from a $5 million pool. More specifically, previous users of the Genie NFT aggregator – acquired by the DEX earlier in 2022 – can take part in the airdrop. It is a very big prize pool to be distributed, and many people have already used it well. Close to $1.9 million has been claimed by 6.106 addresses, although the offer runs for an entire year. Eligible users receive $300 in USDC, whereas Genie: Genesis NFT holders receive $1,000.
Airdrops through Uniswap tend to spark tremendous interest. Its $UNI token still notes claims two years after its release. The “free money” for Genie users will undoubtedly attract much attention. Moreover, the gas rebates are valuable to anyone passionate about NFTs. Uniswap’s recent Universal Router smart contract brings down gas fees by 15% compared to other NFT aggregators. That benefits anyone looking to trade on OpenSea, LooksRare, Sudoswap, or other platforms.
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