Ethereum’s Pending Transactions Jump 30% After Uniswap’s Token Claim Begins

Ethereum’s Pending Transactions Jump 30% After Uniswap’s Token Claim Begins


The number of pending transactions on Ethereum per minute has jumped 30% after the claim for Uniswap’s UNI token begins.

The decentralized trading platform announced around 00:30 UTC time Thursday that it has launched its governance token dubbed UNI with 1 billion coins that will be released over the next four years.

While the liquidity mining for the governance token will not start until Friday, Uniswap said historical users and liquidity providers on the platform are now able to claim for 400 UNI per each address.

“15% of UNI [150,000,000 UNI] can immediately be claimed by historical liquidity providers, users, and SOCKS redeemers/holders based on a snapshot ending Sept. 1, 2020, at 12:00 am UTC,” Uniswap said in the blog post.

Following the announcement, the number of pending transactions on the Ethereum network per minute has jumped from around 160,000 to over 210,000 as of writing, according to data on blockchain explorer Etherscan.

Within three hours after the claim started, over 18,000 transactions were sent to the smart contract address of the UNI governance token, with more than 5,000 of them pending at the

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