A new leader joins Uniswap (UNI), one of the popular altcoin projects. Stacey Cunningham will become an advisor to Uniswap, according to a recent announcement. Here are the details…
Uniswap hires Cunningham, first woman to chair the New York Stock Exchange
Uniswap, the company behind Uniswap, an Ethereum-based decentralized finance (DeFi) platform Labs said it has hired Stacey Cunningham as a consultant via a Twitter thread Wednesday. Cunningham most recently worked for the New York Stock Exchange, where she served as its first female president from 2018 to 2021. According to the Twitter post, Cunningham joined Uniswap Labs because; She “believes in the potential of decentralized exchanges and Uniswap’s commitment to being more fair she.”
People with knowledge said that Cunningham will focus on editing for Uniswap’s role in DeFi. Uniswap’s hiring of Cunningham is indicative of a growing trend in the crypto space. Many cryptocurrency firms hire people who have done important roles in traditional finance. As we reported on Kriptokoin.com, in February Coinbase (COIN) hired former Goldman Sachs partner Roger Barlett to lead global financial operations. In March, longtime Citigroup executive Morgan McKenney joined Provenance Blockchain as the new CEO.
Altcoin price leaps
Meanwhile, Uniswap’s value has soared by 19.45 percent. The coin is changing hands at $4.08 at the time of writing. Uniswap is a popular decentralized trading protocol known for its role in facilitating automated trading of decentralized finance (DeFi) tokens. Uniswap, an example of an automated market maker (AMM), was launched in November 2018. However, it gained considerable popularity through the end of 2020 and 2021, thanks to the DeFi phenomenon and the associated surge in token trading.
Uniswap aims to keep the token’s trading automatic and fully open to anyone who owns the token, while improving trading efficiency compared to traditional exchanges. Uniswap creates greater efficiency by solving liquidity problems with automated solutions and avoids the problems that plagued the first decentralized exchanges. In September 2020, Uniswap went a step further by creating its own management token UNI and giving it to former users of the protocol.
This added both the potential for profitability and the ability to shape the future of users. As a result of the airdrop, interest in coins focused on decentralized finance has increased. At the moment, however, the market is experiencing widespread correction. That’s why UNI is up 90 percent off the all-time high of $44 it saw on May 3, 2021. The coin saw $44.92 at that time.
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