← Back to YouTube Summary

CLAIM Free Uniswap ($UNI)

Channel

Boxmining

over 4 years ago

Score: 1000

The summaries and transcripts on this page are generated with AI technology and may not perfectly represent the content of the video. Please use the information as a guide only.

Executive Summary

Get ready for some exciting news from the crypto world! Uniswap, the trailblazing decentralized exchange, just pulled off a huge surprise by launching its UNI token and airdropping it for free to anyone who interacted with their platform before September 1st. It was a true "free lunch" in crypto, with many users receiving a significant amount of tokens that not only hold market value but also grant immediate voting power over Uniswap's future.

Here’s the lowdown on the UNI token airdrop and what it means for the crypto space:

  • The Surprise Airdrop: Uniswap launched its UNI token completely out of the blue, catching the entire community by surprise. It was a genuine "free lunch" in crypto, as users woke up to unexpected, valuable tokens.
  • Who Qualified for Free UNI: If you used Uniswap at all before September 1st, 2020 – even if you just tested it out or had a transaction fail – you were eligible to claim free UNI.
  • How Much UNI Did Users Get?
    • Basic users who only traded on Uniswap received 400 UNI tokens. At the time of the video, each UNI was worth about $2.85, making the basic airdrop worth over $1,000.
    • If you had previously provided liquidity to Uniswap pools, you received an even larger bonus. One user mentioned receiving 4,000 UNI on one of their accounts, and there were screenshots circulating of people claiming as much as 128,000 UNI – a truly staggering amount!
  • Claiming Your UNI: You can claim your free UNI tokens through the official Uniswap website. Be aware that gas fees on the Ethereum network were quite high at the time of the video, costing around $17 to claim your tokens quickly.
  • UNI's Immediate Market Impact: As soon as UNI was launched, there was a massive rush to claim and either sell or buy more, leading to a huge amount of trading activity. It was a wild ride!
  • UNI's Core Purpose: Governance: The UNI token is primarily used for Uniswap's governance. Holding UNI allows you to vote on how the Uniswap treasury is used and other key decisions for the platform, turning it into a truly decentralized autonomous organization (DAO). Uniswap already has a voting system and treasury set up, with governance rolling out very soon.
  • Earning More UNI Through Liquidity Mining: Beyond the airdrop, you can also earn UNI tokens by providing liquidity to specific pools on Uniswap. This process, often called yield farming, starts approximately 11 hours after the video was recorded. The participating pools are ETH/DAI, ETH/USDC, ETH/USDT, and ETH/WBTC. You add liquidity to these pools and then deposit those tokens on the Uniswap platform to start earning UNI.
  • Price Speculation and Market Views: It's tough to speculate heavily on UNI's price so early on, as it's a very new market.
    • Arguments for a higher price: The initial circulating supply of UNI is relatively small – 150 million tokens out of a maximum possible supply of 1 billion. Also, at the time of the video, only about one-third of the claimable UNI had actually been claimed, suggesting a limited current circulating supply.
    • Personal Strategy: The presenter sold some UNI very early on when the hype was intense but also bought some back to maintain "exposure" to Uniswap. Uniswap is seen as the original decentralized exchange that popularized automated market making (AMM), which allows for direct token swaps without traditional order books.
  • Competitors and How UNI is Being Used: The UNI airdrop also created ripples across the DeFi ecosystem, with other projects quickly trying to capitalize:
    • TrustSwap offered 200 TrustSwap tokens if you converted your UNI into TrustSwap.
    • Linear Finance (LINA), which also launched its token on the same day, offered extra bonuses if you provided liquidity to their LINA-UNI pool.
    • The airdrop also intensified the ongoing "drama" between Uniswap and its various forks and competitors like SushiSwap, MoonSwap, and SashimiSwap. This competitive innovation is a core part of the DeFi landscape.
  • Future of Uniswap: There's a lot of excitement for Uniswap's future, including discussions around version 3 of the platform. The overall deployment of UNI was impressive, with a very user-friendly website and trading interface.
  • Actionable Takeaway: If you missed out on this airdrop, keep a close eye on other decentralized finance (DeFi) projects, especially those following Uniswap's lead. Surprises like this are common in the space, and staying informed can lead to unexpected opportunities.

Transcript

so today we got some free money today well it's in the form of the uniswap token uni so it came pretty much as a surprise for the entire community i pretty much woke up to it and was like wow i get some free uniswap tokens and they're actually worth some money so anyways this is probably the quickest video possible so uh how does this all work well if you've been using uniswap prior to september the first right so this is like if you you know if you've been trading if you watch any of my videos talking about uniswap how it works and you tested it out with any single transaction even if it failed well you can go to this web page dot uniswap.org slash hashtag slash uni i'll put it down in a link section below and you'll see this which is oh uni has arrived um claim your free uniswap token so uh yes first time i would ever say that in crypto there's actually such thing as free lunch uh but yeah there you got some free tokens so you can click claim um right now the gas fees are pretty high so like roughly like if you see this one it will cost you roughly around 17 to claim it if you want to rush and claim it now but you know whatever if you want to claim free 400 uni and try to market sell it right now it's actually worth two dollars and 85 cents and yeah you can probably imagine everyone was rushing to claim it and either sell it or buy some more etc lots of trade activity the rule here is that if you've just been trading so like this account um i used to demo youtube transactions i usually show you guys how to use uniswap so i got the free claim which is 400 for being a uniswap user if you actually provided liquidity over to uniswap in the past well you get more so on one of my accounts i did actually get a roughly around 4 000 uni which is great fantastic christmas present for me and some other crazy ass people um i saw this screenshot um it's posted by private chad they literally claimed 128 000 of uni so i guess congrats to them of course so that's crypto i guess but anyway so yeah it was a big present for everyone um i'm not going to speculate too much on the price of uni i think there's two primary arguments for it some people think the supply right now is very small and that is true there's only 150 million out of the possible 1 billion max supply and i would like to say of course that um you know coin gecko is displays the circulating supply but that's with the ones that people have claimed already so roughly speaking only one third has claimed it yet and the total amount to be claimable at this point is 150 million worth of uni tokens available also if you want to earn some uni you also have the chance in around 11 hours to earn unit uni tokens by depositing into one of these participating liquidity pools so the pools are available if die if usdc if usdt and if wbtc so i actually have a few of these tokens and to you know do that i have a guide on providing liquidity but a quick solution here is you can add liquidity into one of these pools say for example if usdt you can add that and then deposit the tokens on this platform so yeah that's the quickest explanation of how to do this but it's gonna start in around 11 hours and the results i'll tell you guys during the live stream tomorrow i didn't speculately too much so off some of my uni i sold some very early on when the hype was just absolutely crazy and then i guess i bought back some bits because i wanted to have some uni swap exposure i mean at the end of the day this is the biggest this is the kind of the original decentralized exchange with automated market making that made everything happen right so it's it's it's i don't know i don't guess i'm keeping some around but yet again i'm gonna be a little bit light on the speculation here the markets it's still an extremely early market for everything going on and you can make cases both for and against everything that you can see here today now there are some projects that are living up and trying to capture this race so we saw trust swap they're like oh you want some free 200 trust swap go claim your uni and convert your uni to swap and we also see lena so lena finance linear they're launching their token today and they're actually also issuing out a promo so if you want to provide liquidity to the lena uni poll then you get some extra bonuses too so i guess those are a few ways to use your uni right now all right by the way forgot to say what uni is used for so uni is actually used for uniswap it's gonna they're gonna try to run it as the centralized autonomous organization so anyone holding uni gets to vote on what the treasury can do and there's already a website that they set up so it's like the voting system that's already set up and governance is coming very soon and the treasury is going to be deployed very soon as well so i for where uniswap can go and there's a lot of hype over you know what's going to happen next for uniswap like version 3 coming out as well so lots of excitement there definitely read up on it they have all the material there i'm actually quite impressed with how nice the website looks and how the trading interface looks right now once uni has been deployed so i think that was pretty good that they got everything perfect on the deployment there's definitely going to be a lot of drama as well with uniswap versus sushi swap versus moon swap versus sashimi scrub and all that stuff but that's the whole point of defi and that's going to be in the upcoming video as well so yeah make sure you check that out but anyways other than that guys um congratulations if you got some if you didn't well check out some of the videos i have on decentralized finance i'm pretty sure there's some crazy surprises like this too like especially if you follow what muniswap's doing keep an eye on that so anyways guys thank you guys so much for watching this video hope you guys have some uniswap tell me down below if you guys got some uni and how much you got and you know we can just have a party so anyways other than that guys thank you guys so much for watching see you next time

Video Stats

Views27,511
Likes810
Comments230
Duration6:11