On September 16, Uniswap announced that it was giving away 400 of its tokens to every address that had used its protocol before September. Because of this, Uniswap users have claimed $ 616 million in UNI tokens.
Uniswap is certainly a completely decentralized protocol. Precisely, for a token exchange in Ethereum.
In this way, any user can quickly exchange between ETH and any ERC20 token. Also earn fees by providing liquidity.
Uniswap users have claimed their tokens
Based on Thursday’s data from Dune Analytics. Which show that eligible participants in the DeFi project have claimed approximately 78% of the existing UNI supply. In fact, giving a value of 117 million tokens.
Thus, at the current market price it is 5.26. It means a little over $ 616 million in tokens has been claimed.
For its part, the volume of claimants has fallen during the last week. With 1,557 addresses on Wednesday and just under 500 addresses so far.
They launch the UNI token
As announced on September 16, Uniswap has finally launched its native UNI token.
Basically, the move came just a week after Uniswap’s competitor SushiSwap migrated more than $ 800 million in crypto assets from its rival.
Immediately after the Uniswap team made the announcement on Twitter, users showed immediate support. As a consequence, in the first 90 minutes the ad got more than 1.2 likes.
In this sense, DeFi users woke up with free tokens in their wallet. So UNI prices rose to $ 8.
It is true that the news spread quickly. And in a few hours, more than 13,000 Uniswap users had claimed 400 free tokens.
About, Kain warwick, founder of Synthetix, stated that: “Anyone who wants to can claim the tokens. It is one of the best token distributions ever seen”.
As a curious fact, many of the Uniswap users who received the tokens sold them quickly. Which made the price go down.
In the future of UNI
Indeed, one of those interested in becoming a Uniswap delegate is Andre Cronje, the founder of YEARN Finance, who tweeted:
By the way, have this interest from Cronje, in the DeFi space. It seems to have excited the market even more.
Incidentally, UNI tokens will continue their distribution for the next four years. With a total of 1 billion tokens released during this time.
- 60% will go to members of the project community.
- And the remaining 40% to team members, investors and advisers.
- After four years, the token will have an inflation rate of 2% per year.
It is even expected until November 17, 2020. Uniswap will launch a farming program with Ethereum and USDT, USDC, DAI and wBTC.
How to exchange tokens using Uniswap?
If you are a Uniswap user, you must follow the following steps:
- Access Uniswap through its interface at uniswap.exchange.
- Have an Ethereum address.
- Select the token you want to trade and the token you want to trade.
- Approve the transaction with your wallet.
- Confirm the exchange.
Logically, before putting any proposal into practice, the community is encouraged to consult professionals. In order to ensure that all decisions are taken in accordance with applicable regulations.
Regardless, will the number of users claiming their UNI tokens continue to increase? Leave us your opinion in the comment box.
To conclude, at the time of publication. UNI’s price was $ 5.26. According to, Uniswap.info.
I say goodbye with this phrase from Charlie Munger: “People do a lot of calculations. But think little”.