Uniswap Users Have Claimed $560M Worth of UNI Tokens in a Week

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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Paddy Baker

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