Decentralized finance (DeFi) platform Uniswap’s governance protocol token UNI went live on Ethereum earlier today. The community showed immediate support for the new token with Uniswap’s Twitter announcement garnering over 1.2 thousand likes in the first 90 minutes.
150 million UNI, or 15% of the token’s supply, is now available to be claimed by anyone who has used the platform. Synthetix founder Kain Warwick called the move a “galaxy brain move,” adding that this will be “the best token distribution we have ever seen.”
With the news going viral, 13,000 Uniswap users had already claimed their 400 free tokens in the first three hours — not surprising given that number of tokens is valued at $1,344 per user at the current price.
Three Arrows Capital CEO and co-founder Su Zhu shared Uniswap’s post adding:
Love it. In before Synthetix and Ampleforth whales become the biggest uni simps ever.
Binance quickly announced it would list the UNI token