Dharma integrates with Uniswap, opening up trading access to more than 2,000 tokens
July 30, 2020, 11:03AM EDT
1 min read
Crypto lender Dharma announced Thursday that it is enabling support for every token listed on Uniswap v2, with the integration accessible to anyone who owns a smartphone.
The new features built atop Uniswap is meant to attract newcomers to DeFi and create a more seamless user interface for DeFi natives, according to Brendan Forster, co-founder and COO of Dharma Labs. In addition to enabling the swap of over 2000 tokens, the new release will come with price charts, price alerts and, down the line, will include trustless limit orders. It also allows U.S. users to deposit up to $1,000 a week via their debit card.
Forster also said Dharma is looking to balance the permissionless nature of investing with danger recognition. For that reason, this Dharma release has a disclaimer for unverified tokens on Uniswap.
"We're trying to walk a delicate balance between permissionlessness on one side and not having users run themselves off a cliff on the other side," he said. "We do think that these users in general are fairly savvy, but want to make sure that the appropriate disclaimers and disclosure are present for people."
In the spirit of Robinhood's no-fee model, Dharma will pay gas — the term for transaction fees on the Ethereum network — on behalf of users. Additionally, the firm is offering a "no-fee, no-gas promotion" for the month of August.