Ethereum enthusiasts have been waiting for Uniswap to release its own native UNI token. Now that it has finally arrived, the buzz is swelling. Anyone who ever provided liquidity to this platform is eligible for tokens.
The Launch of UNI is a Success
Contrary to how other tokens have been distributed via Ethereum, UNI is a completely fair launch. Everyone who has ever used Uniswap will be able to claim 400 governance tokens. Obtaining these tokens due to high Ethereum gas prices may take a while, but they will come through eventually. On average, one will spend between $7 and $10 to claim -at current prices – $1,200 in free UNI tokens.
Allocating the supply of this “airdrop” has been done in a good way. The genesis supply is divided into two parts. Sixty percent is allocated to Uniswap community members. Fifteen percent of the total token supply has been distributed to past users, hence the free tokens waiting to be claimed. Uniswap team members and future employees receive 21.51% of the supply with a four-year vesting period. The remainder is divided among investors and advisors, both with a four-year vesting period as well.
Inflation of UNI will set at 2% per year, but it will only kick in after four years have passed. This ensures current holders will make up their mind quickly to sell or participate. After four years, the ones still holding UNI will vastly outweigh the passive holders. Everything appears well thought out, to ensure things can be done as smoothly as possible.
With 49 million UNI claimable by historical liquidity providers, there will be plenty of open market token liquidity from day one. Even those who only submitted failed transactions will be eligible for 400 tokens accordingly.
Liquidity Pooling and Benefits
Earning UNi will be of great interest to a lot of people. Providing liquidity to Uniswap will allow users to do exactly that. Four pools will be created to operate during a two-month period. Pairs include ETH/USDT, ETH/USDC, ETH/DAI, and ETH/WBTC. Five million tokens will be allocated per pool, with no vesting requirements.
Holders of the governance token can vote on adding more liquidity pools in the future. There are many options to explore in this regard, although the starting pools are all solid. It will be crucial to avoid any tokens potentially triggering a rug pull, as those remain far too common.
Owning UNI tokens is not just about the governance of Uniswap either. Other benefits include having ownership of the community treasury, SOCKS liquidity tokens, the eth ENS, and so forth. All of these benefits should not be overlooked, as they can be of great value tot he right individuals.