Uniswap has launched its own native cryptocurrency, which is simply named Uniswap (UNI), and so far it’s been a massive success. Uniswap has seen its total value locked (TVL) rocket by 86% in a day to $1.47 billion, making Uniswap the #1 Decentralized Finance (DeFi) platform, outpacing Aave and Maker which have a TVL of $1.37 billion and $1.1 billion respectively.
Further, the Uniswap (UNI) token is up 93% in the past day, and currently worth $5.61, giving it a market cap near $1 billion. In fact, as of this writing Uniswap’s (UNI) price is surging so fast that it is going up multiple percent every few minutes.
Notably, even though Uniswap (UNI) just launched, it is already one of the top cryptocurrencies in the world.
Perhaps the most interesting aspect of Uniswap (UNI) is that everyone who used Uniswap previously received at least 400 free tokens. Literally, everyone who used Uniswap before September received 400 Uniswap (UNI) for free, which is worth $2,300 at this time, and could soon be worth much more.
Some people are calling this ‘stimulus for Ethereum (ETH) users’, and indeed, the amount that was airdropped for free to all Uniswap users is more stimulus than the United States gave to each citizen for the Coronavirus Pandemic, which was $1,200.
Further, some Uniswap users just became extremely wealthy. Essentially, the more liquidity that a user provided to Uniswap in the past, the more free tokens they received, and there is at least one story of someone receiving 128,800 Uniswap (UNI) since they were an early Uniswap liquidity provider, and this is worth in excess of $700,000.
Considering that miraculous story, there are probably many Uniswap users who received hundreds of thousands of dollars or even millions of dollars of Uniswap (UNI).
On a final note, Uniswap got this strategy directly from SushiSwap, which was a fork of Uniswap that became extremely popular since it offered a native token called SUSHI. Now Uniswap is doing the same thing that SushiSwap did via launching the Uniswap (UNI) token, except Uniswap is much more legitimate, and therefore Uniswap (UNI) is likely to be much more successful.