CLAIM Free Uniswap ($UNI)

Boxmining avatar Boxmining
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Description

Uniswap launched its community token "UNI' today. Anyone who has used Uniswap prior to Sept 1st will be able to claim 400 UNI for free. If you provided liquidity to the platform, you'll get an even b...

AI Analysis

Get ready for some exciting news from the crypto world! Uniswap, the trailblazing decentralized exchange, just pulled off a huge surprise by launching its UNI token and airdropping it for free to anyone who interacted with their platform before September 1st. It was a true "free lunch" in crypto, with many users receiving a significant amount of tokens that not only hold market value but also grant immediate voting power over Uniswap's future.

Here’s the lowdown on the UNI token airdrop and what it means for the crypto space:

* The Surprise Airdrop: Uniswap launched its UNI token completely out of the blue, catching the entire community by surprise. It was a genuine "free lunch" in crypto, as users woke up to unexpected, valuable tokens.
* Who Qualified for Free UNI: If you used Uniswap at all before September 1st, 2020 – even if you just tested it out or had a transaction fail – you were eligible to claim free UNI.
* How Much UNI Did Users Get?
* Basic users who only traded on Uniswap received 400 UNI tokens. At the time of the video, each UNI was worth about $2.85, making the basic airdrop worth over $1,000.
* If you had previously provided liquidity to Uniswap pools, you received an even larger bonus. One user mentioned receiving 4,000 UNI on one of their accounts, and there were screenshots circulating of people claiming as much as 128,000 UNI – a truly staggering amount!
* Claiming Your UNI: You can claim your free UNI tokens through the official Uniswap website. Be aware that gas fees on the Ethereum network were quite high at the time of the video, costing around $17 to claim your tokens quickly.
* UNI's Immediate Market Impact: As soon as UNI was launched, there was a massive rush to claim and either sell or buy more, leading to a huge amount of trading activity. It was a wild ride!
* UNI's Core Purpose: Governance: The UNI token is primarily used for Uniswap's governance. Holding UNI allows you to vote on how the Uniswap treasury is used and other key decisions for the platform, turning it into a truly decentralized autonomous organization (DAO). Uniswap already has a voting system and treasury set up, with governance rolling out very soon.
* Earning More UNI Through Liquidity Mining: Beyond the airdrop, you can also earn UNI tokens by providing liquidity to specific pools on Uniswap. This process, often called yield farming, starts approximately 11 hours after the video was recorded. The participating pools are ETH/DAI, ETH/USDC, ETH/USDT, and ETH/WBTC. You add liquidity to these pools and then deposit those tokens on the Uniswap platform to start earning UNI.
* Price Speculation and Market Views: It's tough to speculate heavily on UNI's price so early on, as it's a very new market.
* Arguments for a higher price: The initial circulating supply of UNI is relatively small – 150 million tokens out of a maximum possible supply of 1 billion. Also, at the time of the video, only about one-third of the claimable UNI had actually been claimed, suggesting a limited current circulating supply.
* Personal Strategy: The presenter sold some UNI very early on when the hype was intense but also bought some back to maintain "exposure" to Uniswap. Uniswap is seen as the original decentralized exchange that popularized automated market making (AMM), which allows for direct token swaps without traditional order books.
* Competitors and How UNI is Being Used: The UNI airdrop also created ripples across the DeFi ecosystem, with other projects quickly trying to capitalize:
* TrustSwap offered 200 TrustSwap tokens if you converted your UNI into TrustSwap.
* Linear Finance (LINA), which also launched its token on the same day, offered extra bonuses if you provided liquidity to their LINA-UNI pool.
* The airdrop also intensified the ongoing "drama" between Uniswap and its various forks and competitors like SushiSwap, MoonSwap, and SashimiSwap. This competitive innovation is a core part of the DeFi landscape.
* Future of Uniswap: There's a lot of excitement for Uniswap's future, including discussions around version 3 of the platform. The overall deployment of UNI was impressive, with a very user-friendly website and trading interface.
* Actionable Takeaway: If you missed out on this airdrop, keep a close eye on other decentralized finance (DeFi) projects, especially those following Uniswap's lead. Surprises like this are common in the space, and staying informed can lead to unexpected opportunities.

Transcript

so today we got some free money today well it's in the form of the uniswap token uni so it came pretty much as a surprise for the entire community i pretty much woke up to it and was like wow i get some free uniswap tokens and they're actually worth some money so anyways this is probably the quickest video possible so uh how does this all work well if you've been using uniswap prior to september the first right so this is like if you you know if you've been trading if you watch any of my videos...