- Last year, the entire crypto market escalated and Bitcoin officially developed into a trillion-dollar asset
- Uniswap represents a ruling decentralized exchange and automated retail maker that operates on Ethereum’s network
- UNI tokens hold its worth around $30 at this time
It is viable to claim that the past year represented a tumultuous and interesting context for the cryptocurrency industries.
The entire market escalated and Bitcoin officially developed into a trillion-dollar asset. Besides, various altcoins witnessed massive gains. Uniswap’s UNI token also observed a similar pattern in terms of its value.
The development of Uniswap’s UNI
Uniswap represents a ruling decentralized exchange and automated retail maker that operates on the network of Ethereum. It facilitates its users with the means to establish liquidity pools for all kinds of tokens deployed on the ERC20 protocol standard. Further, it allows them to trade these tokens in a completely decentralized format.
The platform also gives advantages to the clients who offer liquidity to each pool. It allocates the charges amongst all the providers and creates significant incentives for traders. Moreover, it also facilities users with a platform where they can trade against each other without getting involved in any verification procedures.
Intriguingly enough, the exchange was devoid of its Uniswap token until 2020. One of the more interesting things that Uniswap pursued was the airdrop allocation of their tokens to everyone who accessed the exchange before a specific date.
In quintessence, anyone who accessed Uniswap collected 400 UNI tokens that they could utilize for free. At the time, the value ranged between $2 and $4. Thus, many traded their tokens for a good free benefit. Whilst those who continued holding them received handsome rewards.
UNI Tokens’s Airdrop holds a worth of $12K
In consequence of the platform’s extensive growth and the fact that the entire market erupted positively over the past year, UNI now holds its worth around $30 at this time. Basically, the one who held their UNI tokens will have the facility to cash in a tremendous $12,000 that arrived for free.
It’s also worth highlighting that other networks also followed the footsteps of Uniswap. They established and activated airdrops on their own. A rival platform of Uniswap, 1inch exchange, held various rounds of airdrops. And currently, their value stands at worth thousands of dollars.
Thus, it will be interesting to see what the future folds for the airdrop UNI token as the crypto market progresses along with its volatilities.
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