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Did Uniswap3 write itself? Are there humans that wrote the code and deployed it? Why is Uniswap3 protected with copyright law and who does that protect? Why is

Did Uniswap3 write itself? Are there humans that wrote the code and deployed it? Why is Uniswap3 protected with copyright law and who does that protect? Why is there a company called Uniswap? Why were they funded? Does the protocol receive tokens (sole control) and can it send them? How would you define custody?

DennisP 5y ago
I addressed the question of going after the dev above, after the first paragraph. My point on custody is that no human has the ability to do anything other than trade on uniswap as a regular user. You can trade one token for the other (in a given pair contract), and you can provide both tokens as liquidity and collect fees on the trades. The contract handles the rest according to its code, which is run by every Ethereum full node.
- runbathtime 5y ago
  I would say that the protocol code is conducting money transmission and leave the argument that some humans wrote it aside. In the docs, Uniswap says they don't currently take a protocol fee, but might add it in the future. This fee would not go to liquidity providers, but to the smart contract itself. Who would receive the protocol fee I wonder, or would the smart contract itself keep the fees, never distributing it to any human. I haven't even brought up the can of worms of governance tokens. The protocol seems to not need a protocol fee since they can make a fee by issuing themselves governance tokens that have some privileges with the protocol and have a price. It is interesting that you say the code is immutable, but the governance tokens claim to give its holder voting rights to make changes to the protocol code like changing fees. It is a major problem that investors of Uniswap the company received the uni governance token in proportion to the funding of the company which they tell us has nothing to do with the decentralized uniswap protocol. You can't have your cake and eat it too.
  - DennisP 5y ago
    Changing a number is not the same as changing code. I haven't really kept up with V3 but earlier versions had no tokens or governance and were very successful. They're at least an existence proof that defi protocols can be completely autonomous.
    - runbathtime 5y ago
      How is changing a number not changing the code? The autonomous claim that you have made more than once, whether true or not, does not change the fact that the smart contract is doing money transmission.
      - DennisP 5y ago
        So what if it does? Are you going to put a smart contract in jail? I'm saying there's no human doing money transmission.

DennisP 5y ago

I addressed the question of going after the dev above, after the first paragraph. My point on custody is that no human has the ability to do anything other than trade on uniswap as a regular user. You can trade one token for the other (in a given pair contract), and you can provide both tokens as liquidity and collect fees on the trades. The contract handles the rest according to its code, which is run by every Ethereum full node.

runbathtime 5y ago
I would say that the protocol code is conducting money transmission and leave the argument that some humans wrote it aside. In the docs, Uniswap says they don't currently take a protocol fee, but might add it in the future. This fee would not go to liquidity providers, but to the smart contract itself. Who would receive the protocol fee I wonder, or would the smart contract itself keep the fees, never distributing it to any human. I haven't even brought up the can of worms of governance tokens. The protocol seems to not need a protocol fee since they can make a fee by issuing themselves governance tokens that have some privileges with the protocol and have a price. It is interesting that you say the code is immutable, but the governance tokens claim to give its holder voting rights to make changes to the protocol code like changing fees. It is a major problem that investors of Uniswap the company received the uni governance token in proportion to the funding of the company which they tell us has nothing to do with the decentralized uniswap protocol. You can't have your cake and eat it too.
- DennisP 5y ago
  Changing a number is not the same as changing code. I haven't really kept up with V3 but earlier versions had no tokens or governance and were very successful. They're at least an existence proof that defi protocols can be completely autonomous.
  - runbathtime 5y ago
    How is changing a number not changing the code? The autonomous claim that you have made more than once, whether true or not, does not change the fact that the smart contract is doing money transmission.
    - DennisP 5y ago
      So what if it does? Are you going to put a smart contract in jail? I'm saying there's no human doing money transmission.