Ubeswap (UBE) is the only Celo-powered DEX that allows end-users to leverage the full potential of the Celo protocol. Ubeswap was launched in February 2021 and quickly grew to over $35 million in total value locked (TVL).

As a liquidity hub for the Celo ecosystem, Ubeswap allows users to invest in various crypto assets and earn additional profits through yield farming.

In this article, we will learn more about Ubeswap, the UBE token, as well as other similar projects so that you can easily evaluate this project.

What is Ubeswap?

Ubeswap is a decentralized automated market maker (AMM DEX) and liquidity provider for Celo assets. It is designed to make trading ERC20 tokens on the Celo blockchain faster, easier and more cost-effective.

$UBE is the native token of Ubeswap with a total value locked (TVL) of over $35 million. UBE tokens are used for transaction fees, pool rewards, and governance.

To enhance the trading experience on Celo, Ubeswap focuses on developing a mobile-first interface that will allow Celo users to exchange any ERC20 token via their smartphone device.

However, that does not mean they only support mobile users. Ubeswap now also supports a Celo Chrome extension wallet and a Ledger hardware wallet.

Ubeswap

What Makes Ubeswap Outstanding?

When it comes to being used as an AMM for exchanging digital assets and providing liquidity, Ubeswap works just like Uniswap V2, Quickswap and other DEX.

So why is Ubeswap so outstanding?

The goal of Ubeswap is to expand the uses of Celo. The first step towards this goal is to make on-chain trading more affordable for users by providing more liquidity. Higher liquidity basically means lower slippage costs.

In addition, they have been working hard over the past few months to create an intuitive and secure user experience for yield farming on the Celo blockchain.

Yield farming allows Ubeswap users to earn an additional return on their current cryptocurrency assets. UBE tokens are used to reward liquidity providers, making trading on Ubeswap more affordable.

Ubeswap is committed to providing decentralized liquidity to the Celo community and beyond in the future. Through these efforts, Ubeswap will help Celo build a financial platform that brings prosperity for everyone.

Roadmap & Updates

  1. Growing the team: Welcome new contributors and launch community partners program
  2. Ubeswap V2: Offer leveraged yield farming and tokenized assets
  3. New Token Pipeline: Build new bridges and support cross-chain liquidity
  4. Liquidity initiatives: Support more wallets and offer front-end incentives 
  5. DAO: Community run
Ubeswap roadmap

Team & Founders

The project was built by Ian Macalinao - Founder of Saber (SBR). FYI, Saber is a decentralized AMM on Solana.

Backers

After some research, we have not found any information about the backers and venture capital of this project.

Tokenomics

Ubeswap's core contracts have been audited by Bramah.systems.

Users who contribute liquidity to Ubeswap will receive additional UBE governance tokens. Early adopters within the Celo community who trade or contribute liquidity to Ubeswap pools in the first few weeks on the mainnet will become key stakeholders.

Token Metrics

  • Token Name: Ubeswap
  • Ticker: UBE
  • Blockchain: Celo
  • Contract: 0x00be915b9dcf56a3cbe739d9b9c202ca692409ec
  • Token Type: Utility, Governance
  • Total Supply: 100,000,000 UBE
  • Circulating Supply: 31,638,711 UBE (increasing over time)

Token Allocation

  • Mining Reserve: 34%
  • Partnership & Ecosystem: 30%
  • Team & Advisors: 13%
  • Early Supporter & Strategic Investors: 12.7%
  • Celo Reserve: 8%
  • Liquidity: 2.3%
Ube token allocation

Token Release Schedule

UBE tokens are released as follows:

UBE token release

UBE Token Use Case

UBE token is used for:

  • Participating in community voting events.
  • Participating in yield farming activities to earn Celo-related tokens.

How to Buy UBE Tokens

You can easily trade UBE tokens on Ubeswap. Since $UBE is a Celo token, you can store it in your Metamask or C98 wallets.

Buy UBE tokens

Comparable Projects to Ubeswap

Uniswap V2 (UNI) is an Ethereum-based AMM platform that allows users to exchange any ERC20 token using a liquidity pool instead of an order book.

Quickswap (QUICK) is another decentralized AMM dex built on the Polygon (MATIC) ecosystem.

About the Author

Hung Nguyen

Entrepreneur, independent investor, instructor and a visionary of my team here. I've been playing with stocks and cryptocurrencies and sharing my knowledge to the world.

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