The Airdrop of UNI Token
As of September 20, 2020, Uniswap was recorded to have locked in a total of $1.94 Billion. This achievement didn’t happen out of the blues and neither did it drop out of the sky, it came as a result of two major activities that Uniswap engaged in during the past few days.
Before going into the two activities that shot Uniswap into becoming one of the leading DeFi protocols and the most popular Ethereum DeFi DApp in the cryptocurrency industry, let’s look into the background of the trailblazing DeFi protocol known as Uniswap.
Up until the last couple of days, Uniswap was one of those Decentralized exchange protocols that are hosted on the Ethereum blockchain.
With Uniswap, users are able to transact businesses to earn fees in the Ethereum blockchain. On the Uniswap DeFi pool, users can trade, add, swap, and list ERC20 tokens (users can also engage in ETH to ERC20 and ERC20 to ETH swaps) to earn exchange commissions without the interference of middlemen.
The token swaps or exchanges done on Uniswap are done using two different contracts namely: “Exchange and Factory” contracts. With the Exchange contract, users can work with any ERC20 token, but if you want to work with a specific token, you can work with the factory contract.
The Launch of Uniswap Token - UNI
With the DeFi protocol running its businesses successfully with other tokens, Uniswap took the world by a storm when it announced the launch of its native token, the UNI token, into the cryptocurrency market a couple of days ago on the 16th of September, 2020.
As at the time when the UNI token was launched, the new token on the block got an initial supply of 1 billion UNI for a 4-year span, with 600,000,000 UNI allocated to the community members of Uniswap (which include exchange users, liquidity providers, and SOCKS holders.)
With 215,101,000 allocated to current and prospective team members of Uniswap, 6,899,000 goes to advisors with 4-year vesting, and 178,000,000 allocated to investors (with 4 years investing).
Since it’s launch on the 16th of September, 2020, over 50, 000 cryptocurrency addresses have interacted with this new token on the block, and over 10 exchange platforms such as BitForex, KuCoin, Huobi, Coinbase Pro, Binance, Poloni, OKEx, and FTX to mention they will list UNI token to their trading platforms.
Based on these, the UNI token has soared from its initial opening price of $1 to about $7 as of 19th September 2020.
Hence, making the Uniswap UNI token one of the most decentralized tokens in the cryptocurrency industry.
The Airdrop of Uniswap Token - UNI
As launching a token that has made it to the top of the list of decentralized tokens in DeFi w
as not enough for Uniswap protocol, it went ahead to power a token airdropping Fiesta.
In this airdropping Fiesta, Uniswap airdropped 15 percent of their 1 billion minted supply (which is approximately over $350 million) to cryptocurrency users who have interacted with Uniswap since its inception in November 2018.
Traders who have interacted with the Uniswap V1 or V2 received 400 UNI each into their cryptocurrency wallets, which is estimated to about $1,200. This airdropped token value had nothing do with the size or bulk of the transaction.
By the morning of 20th of September, 2020, over 70 percent of addresses have claimed their 400 UNI tokens.
Claim Your UNI Token
If you have ever transacted on Uniswap, it is no secret that you have been gifted 400 UNI tokens that you didn’t work for. To claim your UNI token, just follow the instructions listed below:
• Visit the Uniswap app or visit the Uniswap.org on your device.
• After which you connect the ETH wallet that you used in interacting with Uniswap.
• If your 400 UNI tokens have gotten into your wallet, you will receive a message saying “UNI has arrived” (for those using the Uniswap application). For those assessing the platform via the website, you will select the ‘UNI’ tab, which will show you a box telling you to claim your UNI tokens.
• For those using the application, tap on the “Claim your tokens” and complete your tokens claims. For those using the website, Select the “Claim UNI,” tab, and proceed to confirm your transaction.
• Voila! Your free 400 UNI tokens have been successfully claimed into your cryptocurrency wallet.
If you have issues claiming your free 400 UNI tokens, visit the official platforms of Uniswap for more information.
With Uniswap making such big waves in such a period when the cryptocurrency market is not experiencing the best of times, it is essential to credit the team at Uniswap for a job well done.
Regardless of being the top exchange protocol in the cryptocurrency market at the moment, what the cryptocurrency world is on the standby for is to see if Uniswap will be able to keep its spot and hold the title as the number one exchange platform for a very long time.
BitForex is an exchange service platform that can be classified as one of the Top 10 cryptocurrency exchange services. It is focused on providing millions of users with a digital currency trading and investment tool that is not only safe but also professional and convenient. BitForex has a high customer-oriented culture and state-of-the-art financial technology.
BitForex is programmed in a way that it can quickly adapt to the changes of the Crypto market while introducing new features like margin trading, enhanced trading charts, derivatives, and a host of others. The headquarter of BitForex is located in Hong Kong, while there are branch offices in countries like the United States, South Korea, and Singapore.