"Decentralized' exchange Uniswap starts blocking token access

Bitcoin_Arena

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Quote from: s1lverbox on August 27, 2021, 02:39:01 PM

Kyc and cex or cex and no kyc? get real.
But uniswap front end and rest of protocol? easy to net get distracted and just simply use smart contracts.But you need to DYOR properly. Average user need front end to know whats what. But uni was build to be decentralized and this is happening right now.

Here we go again. We are just about to see the first decentralized exchange to officially ask for KYC once SEC starts to threaten even more. You seem to be living in denial, but deep down inside you, you know how the whole narrative ends.

Since when did the devs of Uniswap start getting concerned about the user data?
Uniswap Defends Sharing Wallet Addresses with Research Firm as ‘Common Practice’

Decentralized exchange LMFAOOOO

Quote from: s1lverbox on August 27, 2021, 02:39:01 PM

Whole idea is to make censorship resistant protocol not front end. And this so far has been acheived.

A useless "censorship resistant protocol" that won't serve any more purpose once the front end gets censored Grin

s1lverbox

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Quote from: Bitcoin_Arena on July 30, 2021, 06:24:46 PM

Quote from: s1lverbox on July 28, 2021, 03:10:36 AM

Nobody acting like a dick. If you research properly you would mention that fact in you OP.
Hayden only blocked this tokens on front end to not beeing chased up. But again, just because you hide that on UI does not mean completely not accessible.
So therefore your post have wholes.

Average users might have difficulty understand whats true and what not.

Front end, back end... They are all part of Uniswap. It's why the UI is there in the first place. it's of huge importance to uniswap.

Your claim is similar to that of centralized exchanges that come up and say "we are a KYC free exchange" but under their terms they have some sort of AML policy Cheesy

You know what I am talking about here. You just don't want to agree, which is OK, but the fact is there's nothing decentralized about the recent developments in Uniswap. What use is a protocol that will keep working in the backend if the front end is modified to censor certain tokens in the middle of the night by a couple of devs at their will.

Kyc and cex or cex and no kyc? get real.
But uniswap front end and rest of protocol? easy to net get distracted and just simply use smart contracts.But you need to DYOR properly. Average user need front end to know whats what. But uni was build to be decentralized and this is happening right now.

Whole idea is to make censorship resistant protocol not front end. And this so far has been acheived.

Bitcoin_Arena

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Quote from: s1lverbox on July 28, 2021, 03:10:36 AM

Nobody acting like a dick. If you research properly you would mention that fact in you OP.
Hayden only blocked this tokens on front end to not beeing chased up. But again, just because you hide that on UI does not mean completely not accessible.
So therefore your post have wholes.

Average users might have difficulty understand whats true and what not.

Front end, back end... They are all part of Uniswap. It's why the UI is there in the first place. it's of huge importance to uniswap.

Your claim is similar to that of centralized exchanges that come up and say "we are a KYC free exchange" but under their terms they have some sort of AML policy Cheesy

You know what I am talking about here. You just don't want to agree, which is OK, but the fact is there's nothing decentralized about the recent developments in Uniswap. What use is a protocol that will keep working in the backend if the front end is modified to censor certain tokens in the middle of the night by a couple of devs at their will.

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Quote from: mu_enrico on July 28, 2021, 01:12:44 AM

I told you guys so many times there is no such thing as decentralized exchange atm. I think this case is like etherdelta, where the developer/CEO was fined and then forced to change things. Decentralized exchanges, coins, whatever, is possible only if the developers have no power over the system. It can be via mining/signaling mechanism where if the devs change the code, the community can vote over it. And this is with the assumption that government cannot take over the network.

Clearly that's what it seems, a decentralized exchange with owners who have the power to block and unblock any coin or token can not be regarded as decentralize or fully decentralized, uniswap have teams who are in control just like any other dex exchange and also centralize exchange, they can make decisions that will affect the project positively or negatively even though it is a dex, and the way i see it, i don't think we can have a fully decentralized exchange where the devs have zero power over the operations, only the community can have the power, this way it will be considered as dex.

s1lverbox

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Quote from: Oceat on July 28, 2021, 02:51:50 PM

It's just a matter of time that SEC will come to visit with them once their name pop-up alot or is very popular among us users. So thinking that a certain exchange would remain a decentralized forever is a myth. This is the new era of centralized exchanges once there is a money involved.

The government wouldn't hesitate to take action because I believe it's also for the customers security. More and more exchanges out there will follow this new regulations once their name pop-up alot on the internet. I don't know which token they were blocking but I don't know if the token is worthy or not.

Entity behind uniswap yes. But not protocol. Sec would have to stop ETH network to stop protocol.

And thats how defi is working. You can block front end or domain but protocol will be working without any problems.

Oceat

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It's just a matter of time that SEC will come to visit with them once their name pop-up alot or is very popular among us users. So thinking that a certain exchange would remain a decentralized forever is a myth. This is the new era of centralized exchanges once there is a money involved.

The government wouldn't hesitate to take action because I believe it's also for the customers security. More and more exchanges out there will follow this new regulations once their name pop-up alot on the internet. I don't know which token they were blocking but I don't know if the token is worthy or not.

s1lverbox

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Quote from: Bitcoin_Arena on July 27, 2021, 06:58:29 PM

Quote from: s1lverbox on July 27, 2021, 06:04:01 AM

I am prety sure you have no idea about this subject. First of all: uniswap front end blocking tokens not smart contracts. So this tokens which are blocked are still accesible by smart contract call. So in practice uniswap centralized entity following guidelines and cannot be liable for breaking those guidelines. If gov want to shut down anything it have to be blockchain.

Please research properly before posting nonsense. It's easy to check that tokens and respected liquidity is still accessible but not through uniswap front end.

Don't think i don't know about the front end and backend stuff. Before making this topic, i made some prior research. There's no need to act like a dick

If you read through the thread, you would understand what i am pointing at?

1. Does Joe, the average trader who decided to use Uniswap because he thinks it's full decentralized care about what goes on in the back end while the front end censors every token at their will?

2. What is the use of DAO governance which is one of the benchmarks for cropping decentralized projects if the project devs can just wake up and block or censor whatever they feel like?

Nobody acting like a dick. If you research properly you would mention that fact in you OP.
Hayden only blocked this tokens on front end to not beeing chased up. But again, just because you hide that on UI does not mean completely not accessible.
So therefore your post have wholes.

Average users might have difficulty understand whats true and what not.

s1lverbox

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Quote from: ?? on ??

Quote from: s1lverbox on July 27, 2021, 06:04:01 AM

I am prety sure you have no idea about this subject. First of all: uniswap front end blocking tokens not smart contracts. So this tokens which are blocked are still accesible by smart contract call. So in practice uniswap centralized entity following guidelines and cannot be liable for breaking those guidelines. If gov want to shut down anything it have to be blockchain.

Please research properly before posting nonsense. It's easy to check that tokens and respected liquidity is still accessible but not through uniswap front end.

s1lverbox I do not think you know what you are talking about. This is the problem with developers and tech people who think they are above regular users. They create and think they are right in their pedantic behavior.

If you are a decentralized exchange, as you claim you are, then you are in no business of blocking tokens or even in a position to care about blocking them. It does not matter if there is a way to bypass it,,, and as Bitcoin_Arena points out, Joe the average trader does not know how to do this. Heck even I do not know how to do this,,, and if I do not see it on Uniswap, I am not going to go to the trouble of doing a smart contract call even if I did know how. Call me a dumb user but that is me and I bet you I am at least on average ability compared to most users who do not even have their own wallet.

Uniswap v3 will make their source code closed source. And now Uniswap 2 is censoring hundred+ tokens.

If anyone can still argue this is decentralized, when it is soon not even going to be open source, then I do not understand at all.

again, uniswap ui = front end blocking tokens. Per gov bodies request. but uni is decentralized and can be interacted with smart contract only.
And yes, them tokens blocked on front end are still available for peeps.And the moment someone create another fork of front end will end that regulatory game.

Perfect example is : thepiratebay.

Just google "the piratebay " and check whats coming out. Content is still there. Just not accessible by users without know how. But this will change.

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Quote from: Bitcoin_Arena on July 26, 2021, 06:31:49 PM

Quote from: o48o on July 26, 2021, 03:31:44 AM

What I don't like is the hypocritical approach. If they claim to be decentralized, then they should act like they are decentralized. I don't care about centralized exchanges because it's in black and white that they are centralized.

Quote from: o48o on July 26, 2021, 03:31:44 AM

So what's the use of their governance if it can't even help with the decision making?

Yes the exchange may have owners but without a community that came in with the belief that Uniswap is a decentralized exchange and had a DAO governance model in place. They would be nothing

Well, i see the point, but they Uniswap is still way better then their rivals like 1inch that still has closed source router contract. And in case of uniswap, it's not about protocol, but more of an interface issue. Maybe someone will build that too some day, but imho not everything should be decentralized.

mu_enrico

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I told you guys so many times there is no such thing as decentralized exchange atm. I think this case is like etherdelta, where the developer/CEO was fined and then forced to change things. Decentralized exchanges, coins, whatever, is possible only if the developers have no power over the system. It can be via mining/signaling mechanism where if the devs change the code, the community can vote over it. And this is with the assumption that government cannot take over the network.

Bitcoin_Arena

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Quote from: s1lverbox on July 27, 2021, 06:04:01 AM

I am prety sure you have no idea about this subject. First of all: uniswap front end blocking tokens not smart contracts. So this tokens which are blocked are still accesible by smart contract call. So in practice uniswap centralized entity following guidelines and cannot be liable for breaking those guidelines. If gov want to shut down anything it have to be blockchain.

Please research properly before posting nonsense. It's easy to check that tokens and respected liquidity is still accessible but not through uniswap front end.

Don't think i don't know about the front end and backend stuff. Before making this topic, i made some prior research. There's no need to act like a dick

If you read through the thread, you would understand what i am pointing at?

1. Does Joe, the average trader who decided to use Uniswap because he thinks it's full decentralized care about what goes on in the back end while the front end censors every token at their will?

2. What is the use of DAO governance which is one of the benchmarks for cropping decentralized projects if the project devs can just wake up and block or censor whatever they feel like?

s1lverbox

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Quote from: Bitcoin_Arena on July 24, 2021, 06:35:27 PM

So yesterday uniswap developers just woke and and decided to block access to certain tokens in their exchange. If the self proclaimed "decentralized" exchange can just change their goal posts in an instant and censored certain tokens, What are the chances that if the likes of SEC come knocking, they will bend down to pressure start demanding for KYC from traders Grin

Here's a snippet of what they said

Quote

To continue to innovate and provide this tool for the Uniswap community, we monitor the evolving regulatory landscape. Today, consistent with actions taken by other DeFi interfaces, we have taken the decision to restrict access to certain tokens through app.uniswap.org. These tokens have always represented a very small portion of overall volume on the Uniswap Protocol

Laughable, isn't it?

This just goes to show that all this so-called smart contract based "Decentralized exchanges' aren't actually decentralized. They can be stopped in an instant.

I am prety sure you have no idea about this subject. First of all: uniswap front end blocking tokens not smart contracts. So this tokens which are blocked are still accesible by smart contract call. So in practice uniswap centralized entity following guidelines and cannot be liable for breaking those guidelines. If gov want to shut down anything it have to be blockchain.

Please research properly before posting nonsense. It's easy to check that tokens and respected liquidity is still accessible but not through uniswap front end.

o48o

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Quote from: FinneysTrueVision on July 26, 2021, 06:47:22 PM

Working with regulators is a horrible idea and sets a bad precedent. Regulators also want to KYC every Bitcoin transaction made from private wallets. They are not here looking out for people's best interests. They are only interested in making it as difficult as possible to use crypto.

Working with regulators is really the ONLY road to take if you are a centralized organization with public head figures, it would be naive to assume anything else. And if we want cryptos mooning, we need regulators to give us a green light.

There are several different forces behind even in one government wanting different things. But probably none of them want anonymity or even, pseudonymity, but even pseudonymous transactions are probably going to be replaced with confidentiality (not anonymity).

If you want anonymity, you should go and pick permissionless privacy coins, but good luck cashing them to fiat if FATF travel rule gets implemented fully.

Anonylz

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Well it shows nothing is truly 100% decentralized, people always claim dex are more secure because you have total control than cex but with this action it shows even dex can pull a fast one whenever they feel the need to do so after all they are owned by an individual or group and must protect their interest, if they can do this then certainly they can do more than this if necessary.

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We all knew that of course,,, and shame on people who never thought this could happen. Uniswap has always been centralized and guess what they are not the only ones even opensea was recently shamed for delisting some meme NFTs for being too similar to an old project. So they actually delisted because of pressure from a rich project who did not want their competition there.

People need to find another way to describe these DEXs. AMMEX?

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Quote from: o48o on July 26, 2021, 03:31:44 AM

Quote from: Bitcoin_Arena on July 25, 2021, 06:26:26 PM

"Trading is decentralized but the code ain't, but anyways let's call it a decentralized exchange to excite the average Joes" Good job uniswap devs

Sounds like you aren't angry with centralization but them banning something or working with the regulators. (imho that was a good choice)

Working with regulators is a horrible idea and sets a bad precedent. Regulators also want to KYC every Bitcoin transaction made from private wallets. They are not here looking out for people's best interests. They are only interested in making it as difficult as possible to use crypto.

Bitcoin_Arena

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Quote from: o48o on July 26, 2021, 03:31:44 AM

Sounds like you aren't angry with centralization but them banning something or working with the regulators. (imho that was a good choice)

What I don't like is the hypocritical approach. If they claim to be decentralized, then they should act like they are decentralized. I don't care about centralized exchanges because it's in black and white that they are centralized.

Quote from: o48o on July 26, 2021, 03:31:44 AM

If you try to DAO the coding process somehow to make it more decentralized, would quickly goes to shit because most people voting for the changes can't code and their votes would be easily manipulated by popularists.

This has more to do with the users that have decided to use the code instead of some other code. As i said, it's their site but no one is forcing anyone to use it, people just rather use it then their rivals.

So what's the use of their governance if it can't even help with the decision making?

Yes the exchange may have owners but without a community that came in with the belief that Uniswap is a decentralized exchange and had a DAO governance model in place. They would be nothing

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Quote from: bittraffic on July 26, 2021, 03:35:17 AM

Do they manually do it?

If they could just edit codes and protocols which acts like if the market doesn't reach a certain buying order threshold/volume, the token is delisted on its own and will be activated when reached. It might just sound good.

Yes, they did manually block the tokens access.

As you can see on the below link, it was added manually by the devs. There is no autonomous or any threshold that the protocol would block it on its own.
https://github.com/Uniswap/uniswap-interface/blob/main/src/constants/tokenLists/unsupported.tokenlist.json

Quote

~ Today, consistent with actions taken by other DeFi interfaces, ~snip

I wonder besides them blocking some tokens, which "other Defi interfaces" that also blocking it. I tried to find it but did not get any pieces of information.

bittraffic

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Because there is a governing team behind it, it can't fully be decentralized, unlike Bitcoin where there is no Satoshi to compromised.

Quote

we have taken the decision to restrict access to certain tokens through app.uniswap.org.

Do they manually do it?

If they could just edit codes and protocols which acts like if the market doesn't reach a certain buying order threshold/volume, the token is delisted on its own and will be activated when reached. It might just sound good.

o48o

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Quote from: Bitcoin_Arena on July 25, 2021, 06:26:26 PM

"Trading is decentralized but the code ain't, but anyways let's call it a decentralized exchange to excite the average Joes" Good job uniswap devs

Sounds like you aren't angry with centralization but them banning something or working with the regulators. (imho that was a good choice)

If you try to DAO the coding process somehow to make it more decentralized, would quickly goes to shit because most people voting for the changes can't code and their votes would be easily manipulated by popularists.

This has more to do with the users that have decided to use the code instead of some other code. As i said, it's their site but no one is forcing anyone to use it, people just rather use it then their rivals.

Topic: "Decentralized' exchange Uniswap starts blocking token access (Read 303 times)