Uniswap, one of the decentralized applications (DeFi), has developed its own cryptocurrency under the name UNI. Crypto currency exchange Binance has announced that it will add this crypto money to the stock market 1 hour after UNI was introduced. As a result, UNI owners made thousands of dollars.
Uniswap posted a blog post yesterday and announced that it is developing a new cryptocurrency called UNI. The Uniswap team organized a special airdrop and gave 400 UNI coins to everyone who used Uniswap before September 1. If you have made a transaction on Uniswap before September 1st, we can recommend you to take a look at your Uniswap account.
Binance UNI announced that it will list this token just 1 hour after its introduction. Binance added UNI to the stock market on September 17 at 06:00 CET and opened UNI / BTC, UNI / USDT, UNI / BUSD, UNI / BNB. As a result, the UNI price in the stock market has almost gone into flight.
Made Thousands of Dollars
Uniswap team organized one of the most radical airdrops in history, giving 400 UNI to everyone who traded on the platform before September 1. Kain Warwick, founder of Synthetix, commended the Uniswap team, saying it was “a genius move”. Warwick also said that this is “the best way of token distribution ever seen”.
According to Cointelegraph’s report, within just a few minutes after this news spread, 13,000 people entered the platform and received 400 UNIs that were given to them. These tokens are worth more than $ 1,000. Uniswap thus earned people thousands of dollars with a single airdrop.
Since Uniswap is an Ethereum-based platform, the intensification of Uniswap usage; It also means that the burden on the Ethereum network gets heavier. When so many people tried to log into their Uniswap account, the transaction fees on the Ethereum network started to increase. Uniswap users paid almost $ 1 million in transaction fees in just a few hours.
What Distribution Model Will Be Followed For UNI?
According to the statement made by Uniswap, 1 billion UNIs have now been produced. These tokens will continue to be distributed over the next 4 years. Of these tokens:
- 60% to the Uniswap community (600,000,000 UNI)
- 21.51% to the Uniswap team (251,101,000 UNI)
- 17.80% to investors with 4-year commitment (178,000,000 UNI)
- 069% will be allocated to consultants with 4-year commitment (6,899,000 UNI).
15% of these 1 billion UNIs, that is, 150 million of them have already been distributed. These tokens were reserved for liquidity providers, SOCKS holders and Uniswap users that operated prior to September 1. Uniswap will continue to distribute the remaining tokens through the following liquidity pools:
- ETH / USDT
- ETH / USDC
- ETH / DAI
- ETH / WBTC
According to the information in the blog post, this first mining program will open at 15:00 on September 18, and will end at 15:00 on November 17. Under this program, 5 million UNI will be allocated per pool.
The Uniswap team will not be “involved” in the governance process of the project and the planned deployment process for UNI will continue for 4 years. After this 4-year period, UNI will have an annual inflation rate of 2%.