First-line news on September 18, the cryptocurrency market is becoming more dramatic due to the arrival of UNI. As Uniswap announced the issuance of governance token UNI (1 billion in total) on the 17th, this DEX, which was once in a passive position in the liquidity mining boom, finally came to the center of the market.
However, compared to the issuance of coins, the official announcement that it will airdrop UNI tokens to early LP/users and start liquid mining (starting at 20 o'clock on the 18th) has stimulated market nerves. It can be said that half of the cryptocurrency market participants have tasted the dividends brought by UNI in the counterattack of Uniswap.
1. The user likes to mention "Wind Money", with a maximum of 3.91 million US dollars
According to the official statement, the team will airdrop 15% of the total UNI, or 150 million UNIs, to the early LP/users. At the current market price (approximately US$5.3), this "sunset windfall" is worth nearly US$800 million.
On the first day of the airdrop, the address starting with 0xd03f3e6 received 1,158,433.53 UNIs at a current price of US$3.91 million, becoming the biggest winner of the day. According to statistics, more than 86 million UNIs have been received, accounting for about 57% of the total airdrops.
It should also be noted that, in addition to Uniswap users, CEX also got a share of this "money-spending movement". On the day when the official announcement of the UNI airdrop, Coinbase, OKEx, Huobi, Binance, Cocoa Finance and other CEX platforms launched the token one after another. Judging from the data of the past 24 hours, UNI currently brings USD 450 million and USD 72.5 million in transaction volume to Binance and Coinbase respectively.
2. Ethereum miners make a lot of money
Originally, Ethereum miners benefited from the DeFi wave, and the soaring Gas fee brought huge profits to them. According to The Block Research data, Ethereum miners had revenue of 285.1 million U.S. dollars in August, an increase of 98.2% from the previous month.
On the day of the Uniswap airdrop to UNI, transactions on the Ethereum chain surged, and the miner fee income reached 4 times the block reward. The data shows that the Ethereum Gas fee once rose to 700Gwei (2~3 times the normal level), and it took nearly US$100 to complete the transaction in a short time. Not only that, the total income of Ethereum miners also hit a record high that day, reaching $938,000 in one hour.
At present, although Ethereum Gas has dropped compared to yesterday, it is still much higher than since the beginning of September.
3. Paradigm may become the biggest beneficiary in the investment camp
According to the official data released by Uniswap, 17.8% of UNI tokens will be allocated to investors. This means that the total number of tokens distributed to investors reached 178 million.
According to Mars Finance statistics, Uniswap investors include well-known investment institutions such as a16z, Paradigm, Union Square Ventures, SV Angel, and ParaFi Capital. Among them, Paradigm is not only the only fund in the seed round, participating in the A round of financing, but also acquiring a 17% equity in Uniswap.
The Block Research Director Larry Cermak said that Paradigm's token distribution may account for 50% of the total distribution of UNI investors. "If UNI rises to $11, the agency will make more than $1 billion in profits."
4. "Counterattack" won the first battle: Uniswap overtook Sushiswap and ranked first in the DeFi lock-up rankings
Since Sushiswap completed its migration on September 10, and more than 60% of the Uniswap platform's liquidity was "robbed" by the former, the DeFi lock-up volume rankings have changed dramatically.
Sushiswap reached the second place in the ranking with over 1 billion locked positions, surpassing platforms such as Curve, Maker and year. At the same time, Uniswap fell out of the top ten, with a locked position as low as less than $500 million.
At present, Uniswap's lock-up volume has not only returned to the US$1 billion mark and ranked first in the DeFi lock-up volume list, but is also continuing to approach US$2 billion. All this happened when the platform announced the issuance of UNI and started liquid mining. after that.