ulock-react/README at main · udev-ulock/ulock-react · GitHub

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GNU GPL v3
!!!USE AT YOUR OWN RISK!!!
Experimental Technology

Lock up to 2**100 uETH, 100% backed 1:1 by ETH.
Helps solve liquidity problems on Uniswap without any protocol upgrades.

dApp:
https://ulock.eth
https://bafybeiaip7nknvsugkgou6jzsgtmfiooau54q2m3xgt4r2z72t23t46e4m.ipfs.dweb.link/

How it works:
When liquidity is locked on a capped token, no more than the cap minus locked reserves can be sold.
With this difference, a calculatable amount of uEth in Uniswap is permanently locked and can never be redeemed for Eth.
If the contract knows ahead of time that the uEth will be permanently locked, it can issue unbacked uEth.
Other uEth can only be minted through depositing Eth.
Thus all circulating uEth is 1:1 backed by Eth.

Feel free to farm the Eth/uEth pair or run arbitration bots between the uEth wrapper and the Uniswap pair.

Mainnet
ueth:          0x395C8dB957d743a62Ac3aAAa4574553bcf2380b3
ulocker:       0x7cA5FB20FDD54867e250436c4A9686ceeB88A18B
uEth/Eth pair: 0x952a51ca1e6267bcbca6212d2c3a67abf5195017