Decentralised Exchange Uniswap’s governance token, UNI, was launched Wednesday night (September 16, 2020) and emerged victorious as soon as it was launched! It defied the predictions it faced about a price dump and took a leap to reach among the top-65 ranked crypto assets by market cap!
Even though it has been on a roller-coaster ride since its launch, it has minted 1 billion coins which are planned to be released to the public over the next four years! Of the 1 billion tokens, 60% will go to the UNISWAP community members, and the remaining 40% will be to team members, investors, and advisors. After four years, the token will have an inflation rate of 2% annually.
The firm’s official statement said, “UNI officially enshrines Uniswap as publicly-owned and self-sustainable infrastructure while continuing to protect its indestructible and autonomous qualities carefully.”
“Uniswap is now particularly well positioned for community-led growth, development, and self-sustainability. The introduction of UNI (ERC-20) serves this purpose, enabling shared community ownership and a vibrant, diverse, and dedicated governance system, which will actively guide the protocol towards the future.”, it read further.
More than 50,000 addresses were holding UNI at launch time. Uniswap’s token came just a week after SushiSwap migrated over $800 million in crypto assets from the former to jump-start its competing AMM.
Social Media was taken by storm by this surprise launch of UNICOIN! It has already been listed on most exchanges and is trending.
A friend who provided liquidity to Uniswap v1 for a long time just received a HALF A MILLION USD airdrop of $UNI at these prices. This is insane. @UniswapProtocol @haydenzadams. pic.twitter.com/H5DQwOV41w
— Private Chad (@Privatechad_) September 17, 2020
There were many predictions as well doing rounds on social media:
Prediction: $UNI will soon be the #3 crypto asset.
— Cole Kennelly ⬙ ? (@ColeGotTweets) September 17, 2020
Major centralised exchanges, including Binance and Coinbase Pro, listed UNI within just a few hours of its launch. Coinbase is among the project’s investors.
BC.GAME has also made UNI COIN available on its site for users within two days of its launch!