Uniswap users have snapped up much of the supply of free UNI tokens in the first week.
- Data from Dune Analytics on Thursday shows that eligible participants in the DeFi project have claimed approximately 78% of the existing UNI supply – just under 117 million tokens.
- At the current $4.78 market price, that means just under $560 million worth of the tokens have been claimed.
- Last Wednesday, Uniswap announced it was giving away 400 of its newly minted tokens to each address that had used its protocol prior to September.
- The decentralized trading platform said it will ultimately issue and distribute 4 billion UNI tokens to the community over the next four years.
- So far, 190,000 eligible wallet addresses have claimed their tokens; nearly 140,000 did so the day after the announcement.
- The volume of claimants has fallen over the past week, with 1,557 addresses on Wednesday and just under 500 addresses so far today.
- Designed to power on-chain decision making, UNI has made the headlines almost every day since it first started trading last week.
- At an initial price of $2.97 on Wednesday, UNI had surged to over $7.80 by Friday.
- Following a market slide that took the price down to $3.80 by Tuesday, UNI has since recovered and has currently edged past the $4.80 mark, according to CoinGecko data.
- UNI is currently the 32nd biggest digital asset by market cap.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is an award-winning media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. In November 2023, CoinDesk was acquired by Bullish, a cryptocurrency exchange, which in turn is owned by Block.one, a firm with interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets including bitcoin and EOS. CoinDesk operates as an independent subsidiary, and an editorial committee, chaired by a former editor-in-chief of The Wall Street Journal, is being formed to support journalistic integrity.