The largest non-custodian crypto exchange Uniswap has introduced a new listing system aimed at fighting counterfeit tokens.
Token Lists act as a selection tool for authentic tokens available for adding to the exchange. The service is currently integrated with resources such as CoinMarketCap, Coingecko, Dharma, Zerion, Kleros, TCR, Defiprime, Compound, Aave, Synthetix, UMA, 1inch and Roll.
Users can select any of these aggregators, after which they will be presented with a list of supported tokens available to add to Uniswap.
The exchange currently holds 55.6% of the market for decentralized trading platforms with a daily trading volume of more than $217 million. Over the past week, the number of traders on the exchange has exceeded 70,000, according to Dune Analytics.
The loose practice of listing on the exchange has already led to problems. In early July, the exchange was flooded with fake tokens of famous projects, whose names, tickers and logos completely copied the original.
To authenticate an asset, users must manually verify their contract address. Token Lists allow you to add only those tokens that have been validated by the aggregators who posted them.
Recall that a week earlier, Uniswap became the leader in gas consumption in the Ethereum network.