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The 18th of September was like any other day for the first few hours. Get up, have breakfast, check Twitter… wait, why is Uniswap trending? It didn’t take long to discover the reason for the explosion in Uniswap tweets was due to the sudden announcement of Uniswap’s own token: $UNI. Better yet, how it was being distributed.

400 $UNI tokens were distributed to every single address that had ever used the platform in any way, even if that consisted of a single (even failed!) transaction. Not only that, but there was extra handed out for long term liquidity providers.

Obviously, I frantically navigated Uniswap, which was struggling from thousands of others doing the same thing, to check if I had a claim to make. And make it I did, incurring substantial fees in the process due to the announcement causing spikes in GAS prices. …

About

Alex Roan

Engineer and Technical Writer at Chainlink Labs.

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