Curve Finance’s multi-million dollar exploit has traders turning to Uniswap’s UNI token.
Funding rates on UNI-linked perpetual futures surged to an annualized 19% after the breach, according to data tracked by crypto services provider Matrixport.
Markus Thielen, director of research and strategy at Matrixport, said UNI tokens (perpetual contracts) traded at a nearly 20% premium as traders expected Uniswap to gain more market share after the CRV exploit.