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.
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