Hey everyone, co-founder at CoinGecko here; with the recent exploit of Kucoin hack, I wanted to share a little thought on some of the issue that may impact Uniswap users.
We are already seeing projects that were impacted by the exploit and they responded by initiating a contract upgrade.
This has led to new contract addresses generated for these tokens. See https://blog.orionprotocol.io/tokenswap , https://www.kucoin.com/news/en-kai-has-completed-the-token-swap, and there could be more.
What this means…
Contract address for a given token may have changed, and users may be in danger of trading the wrong token or an outdated contract.
On tokens list
I am a fan of the idea of tokens list when it was proposed by Uniswap, its a great idea to decentralized the curation of tokens that are trading on Uniswap. However at this moment there might be something we need to address.
Token list maintainers need to be quick at making sure the contract address are updated as soon as possible to prevent people from trading the wrong token using the wrong contract address.
We at CoinGecko receive updates like this with regards to contract address change, and we make the update as soon as possible, and its our goal to have that reflected throughout our website/app and also tokens list.
At the moment, that latest update is only reflected in our complete tokens list https://tokenlists.org/token-list?url=https://tokens.coingecko.com/uniswap/all.json
This list pulls the latest changes and creates a new version every hour to reflect the latest update.
What this means is that users using this list will get any update that are reflected on CoinGecko as soon as possible. For example, the contract upgrade scenario, we will reflect the latest address to a given token as quickly as possible so Uniswap users will trade the correct new token when they are ready.
I would like to propose to have that CoinGecko tokens list to be in the default “Manage List” section replacing the CoinGecko DeFi 100 for the following reasons:-
- CoinGecko tokens list updates every hour with all the latest updates/changes (new tokens, contract address change, etc…)
- CoinGecko DeFi 100 list was our first attempt, and we noticed that a list with all tokens is a better user experience as Uniswap traders don’t have to switch in/out to find the address they are looking for
- We did not implement DeFi 100 in the best way; which makes it difficult for us to get it updated with any changes in token details in our backend, and we should deprecate it
by making it easier for general Uniswap users to access the CoinGecko token lists
- Users will get the latest changes to the token as timely as possible (contract address, decimals, any metadata related) in order to trade the correct token
- Users get to find all the tokens that are curated on CoinGecko.com
- Users can look up in the list using symbols
Let me know what you all think about this suggestions. Cheers!