Vitalik Buterin says Uniswap should become an oracle token
Cointelegraph
Published May 12, 2021 01:00PM ET
Updated May 13, 2021 04:40AM ET
Uniswap’s native UNI token can greatly enhance its utility by becoming a pricing oracle for stablecoins, according to Ethereum co-founder Vitalik Buterin.
In a proposal submitted to Uniswap’s governance platform, Buterin said that a successful decentralized finance, or DeFi, ecosystem relies on a “highly secure pricing oracle,” noting that algorithmic stablecoins, synthetic assets and collateralized loans all depend on oracles. The problem, however, is that Uniswap currently doesn’t provide an oracle for the price of ERC-20 tokens in the truest sense.
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Written By: Cointelegraph
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