The Dangers of Uniswap and Decentralization by jondoe

hive-167922 · @jondoe · Nov 7 '20

$3.53

The Dangers of Uniswap and Decentralization

# We all seem to want decentralized everything with no single central authority, but be careful what you wish for

Sometimes someone protecting you from yourself is actually a good thing.

We got reminded of this yesterday when a user claimed that he accidentally spent almost $10k in fees for a $120 transaction on Uniswap.

Sees:

![image.png](https://i.imgur.com/xZ3JYRO.png)

(Source: https://www.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/?utm_medium=android_app&utm_source=share)

Sure we can put up more boxes that say "are you sure?" or perhaps some warnings that say you are about to pay a fee amount 1,000x the average fee amount etc, but this goes to illustrate that there are dangers with no central authority.

Overall the benefits may outweigh the negatives but we still need to remember to be be vigilant and careful out there.

If you accidentally pay $10k in fees on a $120 transaction there is no one there to bail you out.

It's on you.

Posted Using [LeoFinance <sup>Beta</sup>](https://leofinance.io/hive-167922/@jondoe/the-dangers-of-uniswap-and-decentralization)

👍 jrcornel, leo.voter, brian.rrr, bigram13, asa-raw, created, ctime, edicted, planter, livingfree, visionaer3003, foxon, luppers, giftgiver, cadawg, dagobert007, onealfa, hatschi0773, jondoe, warnas, roleerob, bastter, chucknun, solominer, leofinance, mehmetfix, eirik, mcoinz79, recoveryinc, hextech, boneym, rmach, deflacion, thefoxxer, gadrian, spinvest-leo, engrsayful, rishi556, pataty69, ahlawat, jesusjacr, snoochieboochies, mhm-philippines, yameen, travelwritemoney, sumatranate.leo, foxoff, bilpcoinbpc, localgrower, no-advice, mtl1979, senseiphil, kaniz, paragism, bilpcoinbot, sn0n.dev, fakegod, dying, alokkumar121, platino94, munhenhos, mk-leo-token, dtrade, letshodl, and 16 others

`author`	jondoe
`permlink`	the-dangers-of-uniswap-and-decentralization
`category`	hive-167922
`json_metadata`	{"app":"leofinance/0.2","format":"markdown","tags":["crypto","news","uniswap","defi","finance","palnet","neoxian","life","investing","money","leofinance"],"links":["https://www.reddit.com/r/ethtrader/comments/jo7lj2/help_needed_i_payed_235172_eth_9500_for_120/?utm_medium=android_app&utm_source=share"],"image":["https://i.imgur.com/xZ3JYRO.png"]}
`created`	2020-11-07 00:38:45
`last_update`	2020-11-07 00:38:45
`depth`	0
`children`	0
`last_payout`	2020-11-14 00:38:45
`cashout_time`	1969-12-31 23:59:59
`total_payout_value`	1.836 HBD
`curator_payout_value`	1.690 HBD
`pending_payout_value`	0.000 HBD
`promoted`	0.000 HBD
`body_length`	1,125
`author_reputation`	484,533,716,905,550
`root_title`	"The Dangers of Uniswap and Decentralization"
`beneficiaries`	`[]`
`max_accepted_payout`	1,000,000.000 HBD
`percent_hbd`	10,000
`post_id`	100,423,278
`net_rshares`	17,115,652,005,698
`author_curate_reward`	""

properties (23)vote details (80)

voter	rshares	pct
onealfa	82,006,683,087	4.25%
livingfree	276,653,646,285	4%
jrcornel	6,115,063,593,565	100%
rmach	8,421,844,445	100%
rishi556	4,716,607,483	100%
created	670,927,102,567	4%
eirik	12,802,557,542	100%
planter	368,796,322,062	100%
bigram13	1,440,519,032,787	100%
brian.rrr	1,676,216,971,729	100%
mcoinz79	12,182,553,524	1%
ahlawat	3,910,165,151	48%
roleerob	35,728,387,910	5.5%
jondoe	47,800,750,960	100%
pataty69	4,411,462,595	10%
mtl1979	2,360,108,747	50%
kaniz	1,322,479,390	50%
mhm-philippines	3,604,278,599	6.25%
jesusjacr	3,699,765,285	2%
edicted	464,573,769,535	20%
warnas	38,299,872,200	10%
corndog54	227,475,224	100%
letshodl	639,698,589	100%
cadawg	106,462,707,103	28%
paragism	1,142,156,578	3.3%
foxon	166,825,378,471	31.2%
yameen	3,261,079,175	1%
gadrian	5,571,034,804	3.52%
solominer	30,277,696,951	1%
jk6276	353,644,437	10%
luppers	152,830,193,590	12.5%
munhenhos	832,089,162	10%
alokkumar121	905,023,065	1.1%
ctime	640,212,897,726	5%
limka	0	5%
giftgiver	114,775,416,564	40%
engrsayful	4,864,529,986	5.5%
coredump	59,002,511	10%
dtrade	650,585,277	25%
bastter	32,436,326,459	35%
haxxdump	113,806,113	10%
travelwritemoney	3,044,747,983	11%
abh12345.leo	117,586,059	11%
leo.voter	3,274,488,157,675	11%
onealfa.leo	259,247,272	1.66%
no-advice	2,413,375,715	100%
vxc.leo	73,070,809	21%
mk-leo-token	674,029,753	100%
bilpcoinbot	1,112,300,492	50%
deflacion	8,085,008,050	60%
spinvest-leo	4,969,555,418	5%
tonimontana.leo	546,789,221	6.43%
tonimontana.neo	0	1.13%
snoochieboochies	3,643,363,897	5.5%
sumatranate.leo	2,951,391,550	75%
pjansen.leo	38,901,694	50%
empoderat.leo	0	1.66%
toni.pal	0	0.58%
bilpcoinbpc	2,719,433,058	25%
ldelegations	531,544,732	50%
platino94	893,510,058	1.66%
achim03.leo	621,211,697	100%
mehmetfix	17,411,583,370	25%
foxoff	2,850,103,570	40%
thefoxxer	7,506,185,626	20%
leofinance	25,393,503,385	11%
visionaer3003	179,336,818,866	2.97%
hextech	10,130,369,409	66%
localgrower	2,715,089,166	5%
fakegod	955,001,473	100%
zemiatin1	529,417,975	50%
asa-raw	792,697,353,942	20%
hatschi0773	70,979,289,782	2.91%
sn0n.dev	1,009,754,592	40%
recoveryinc	12,033,100,131	0.5%
dying	914,504,204	1%
dagobert007	106,245,006,843	2.94%
senseiphil	1,745,773,417	11%
chucknun	30,772,698,764	11%
boneym	8,784,528,817	3%