🚨 BREAKING: BlackRock purchases UNI tokens

@BlackRock will be bringing its Treasury-backed digital token #BUIDL onto @Uniswap, where it will be bought and sold by institutional traders. As part of the tie-up, BlackRock is also purchasing an undisclosed amount of Uniswap’s own $UNI token.

The practical impact of Uniswap adding BUIDL to its platform is likely to be minor at first, though, since the arrangement involves @Securitize creating a whitelist of eligible institutions that can participate in the #DeFi trading.

The firm is also whitelisting a handful of market makers, including Wintermute, to facilitate trading. Meanwhile, access to BUIDL is restricted to qualified purchasers, a legal designation for those with assets of $5M or more.

• Current $UNI price: $4.2

• Current FDV: $3.8B