The Uniswap Protocol token, UNI is live on Ethereum and the news has taken Twitter by storm. The news is even more exciting for existing Uniswap users as there is free UNI worth $1,4008 (1 UNI = $3.52) waiting for them in Uniswap. On a lighter note, this amount is more than the $1,200 Coronavirus stimulus check that millions of Americans received in 2020.
According to the official blog post, 400 UNI are claimable by each address, this even includes Uniswap addresses that have submitted only failed transactions to date. There are close to 120,000 such addresses.
At the time of press, close to 226,881 addresses hold UNI token and every second almost 12 addresses are claiming their free UNI. However, there exists an address that received more than 130k UNI. We will talk about that later in this article.
As a Uniswap user, all you need to do is log in to your profile and claim the UNI tokens. Here is a 2-step guide to claim the tokens:
In case you are facing issues claiming your UNI, Uniswap suggests this could be due to caching in the Cloudflare IPFS gateway. Furthermore, it suggests users use an alternate link.
TrustSwap founder Jeff Kirdeikis claimed and immediately sold the UNI for ETH. You may choose to hold the UNI as the ERC20 token is up by 100.3% in the last 24 hours.
Uniswap has proved to be a perfect product for the decentralized finance market. Now, the time is ripe to move towards community ownership by introducing UNI the protocol governance tool. According to a tweet by Robert Leshner, Founder Compound Finance, Uniswap will use Compound governance system contracts for governance management.
Right from its inception, Uniswap envisioned the development of a neutral and trust minimized ecosystem. For the very purpose, it has designed the governance framework with limited capacity. Precisely, the governance framework can participate only in:
At the time of genesis, Uniswap minted 1 billion UNI. Over the course of 4 years, 60% of these will be distributed to the Uniswap community members. However, 15% of these 60,000,000 UNI has already been distributed to past users. The tokens issued to the team, investors, and advisors will have a 4-year vesting period.
After 30 days, governance will reach its vesting cliff. Following this, Uniswap governance will be in complete control of the UNI vested to the Uniswap treasury.
Chef Nomi, the former head chef, SushiSwap confirmed that he received 138,269 UNI in the airdrop. It was first noticed by Twitter user @bcmakes.
Chef Nomi immediately confirmed the same by sharing the transaction details.
Currently, Uniswap and SushiSwap stand as strong rivals in the space. How Chef Nomi plans to use over 130k UNI? Will he contribute towards protocol governance or will he use them to dump UNI?
Do let us know your opinion in the comment section below.
Meanwhile, on our Altcoin Buzz YouTube channel, we are talking about whether the altcoin season for 2020 is over yet.
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- User who turned $200 in Ethereum into $250k due to altcoin bug comes clean - CryptoSlate - September 10th, 2020
- Bitcoin Crashes Below $10,000, Is The 'Altcoin & DeFi Apocalypse' Over Yet? - Bitcoin Exchange Guide - September 10th, 2020
- YFI Climbs 50% From $18K Low While The Rest Of Crypto Stagnates, But Why? - NewsBTC - September 10th, 2020
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- Analyst Explains Anatomy Of An Altcoin Shakeout With BATs Vertical Rally - newsBTC - August 28th, 2020
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- 2017s forgotten altcoins ZRX, OMG, and BAT are booming on a DeFi promise - CryptoSlate - August 26th, 2020
- Analyst Explains Anatomy Of An Altcoin Shakeout With BATs Vertical Rally - The Coin Radar - August 26th, 2020
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- Bitcoin 'maximalists' accused of 'shilling' an SEC-cleared token - Cointelegraph - August 26th, 2020
- 3 Reasons Why Ethereum Price Rallied 75% to Hit a 2-Year High at $400 - Cointelegraph - August 2nd, 2020
- Bitcoin SV Price Analysis: BSV/USD takes the altcoin rally a notch higher, approaching $250 - FXStreet - August 2nd, 2020
- DataDash: Two Crypto Newcomers Will Surge Alongside Bitcoin, Ethereum and XRP in New Bull Cycle - The Daily Hodl - August 2nd, 2020
- As Altcoin Season Presses on, Whats Next for Crypto Futures? - Finance Magnates - July 31st, 2020
- Altcoin Price Analysis Bitcoin Cash, Tezos and IOTA: BCH/USD and IOT/USD look to break past key levels - FXStreet - July 31st, 2020
- Bitcoin Price Touched $11,400, Altcoin Season Over? - CryptoPotato - July 31st, 2020
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- As Bitcoin tops $11,000 level, investor interest in India on the rise - Livemint - July 31st, 2020
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- Cardano and Litecoin Lead the Altcoin Market - Somag News - July 27th, 2020
- Top Analyst Bullish on Ethereum and Five Altcoins, Says Bitcoin Wont Lead Surge in Crypto Market Cap - The Daily Hodl - July 27th, 2020
- Bitcoin Analyst Says Crypto Traders Who Ignore Two Emerging Trends Will Miss Out, Warns Altcoins Set for Pullback - The Daily Hodl - July 27th, 2020
- Ethereum 2.0 validator testnet goes live: ETH Research Team - AMBCrypto - July 27th, 2020
- Altcoin Market Update: Akropolis and Ocean Protocol are unstoppable lately thanks to DeFi bull... - Forex Crunch - July 27th, 2020
- Prominent Bitcoin Whale Predicts Mass Altcoin Extinction Ahead of Next BTC Rally - The Daily Hodl - July 5th, 2020
- PrimeXBT Comparison: Will DeFi Defy The ICO-Fueled Ethereum All-Time High? - Ethereum World News - July 4th, 2020
- These Altcoins Set a New ATH While Bitcoin And Ethereum Tank | NewsBTC - newsBTC - July 4th, 2020
- Renowned analyst predicts Bitcoin to outperform altcoins in 2021 - FXStreet - July 4th, 2020
- Ouroboros, as explained by IOHK researchers - Altcoin Buzz - July 4th, 2020
- XRP Price Can Outperform Bitcoin in the Short Term Heres Why - Cointelegraph - July 4th, 2020
- Ethereum, Chainlink and Tezos price analysis: June 28 - AMBCrypto - June 29th, 2020
- This top-30 altcoin is integrating with Chainlink (LINK) for bolstering smart contract ecosystem - CryptoSlate - June 29th, 2020
- Brutal Drop In Altcoins Anticipated as Bitcoin Dominance Projected to Surge | NewsBTC - newsBTC - June 29th, 2020
- Chainlink (LINK) Near New All-Time High Heres 3 Reasons for the Rally - Cointelegraph - June 29th, 2020
- Pantera Capital: Bitcoin Set to Begin Meteoric Bull Run But Ethereum and Certain Altcoins Will Outperform BTC - The Daily Hodl - June 29th, 2020
- Most traded crypto in June 2020: are we in the altcoin season? - Capital.com - June 20th, 2020
- Top 3 Price Prediction Bitcoin, Ethereum, Ripple: Altcoin season just around the corner - FXStreet - June 20th, 2020
- Top Crypto Strategist Predicts Bitcoin (BTC) Will Surpass $20,000 in Just Two Months With Ethereum Leading Next Altcoin Rally - The Daily Hodl - June 17th, 2020
- Liquidations May Loom as Altcoin Bulls Hold Despite Shorts Spiking - Cointelegraph - June 13th, 2020
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- Bitcoin Price To Hit $150,000; Ethereum At $9,000 In Next Bull Run, Blockfyre Founder Predicts - International Business Times - June 9th, 2020
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- Why An Even Deeper Correction Is Expected For The Crypto Markets Hottest Altcoin | NewsBTC - newsBTC - June 8th, 2020
- Analyst Predicts Next Bull Run Will Send Bitcoin to $150K and Ether to $9K - Cointelegraph - June 8th, 2020
- Venture Capitalist Predicts Bitcoin Boom to $150,000, Says Ethereum and Four Altcoins Will Outperform BTC - The Daily Hodl - June 8th, 2020
- Stocks aren't the only asset climbing - InvestorPlace - June 8th, 2020
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- ETH showing strong signals as EOS and XRP likely to regress - CoinJournal - June 2nd, 2020
- Cardano and Ethereum Price Surge Alongside Bitcoin Will XLM Follow? - Cointelegraph - June 1st, 2020
- Ethereum Chart Makes It Clear: Altcoin Season Is Already Over | NewsBTC - newsBTC - June 1st, 2020