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Uniswap’s token airdrop has met with a mind-staggering response. Its successful airdrop outing to the loyal platform users can be seen as a robust indicator that the UNI token is here to stay, perform, and sustain, despite the recent price slide it had experienced. Going back, we informed you that Uniswap came up with its UNI token and Ethereum-based liquidity farming pools, and along with it, had also distributed 150 million of the tokens as a loyalty bonus. Those interested DeFi users were presented with free tokens in their wallets and due to the immense cheer, the UNI prices concurrently surged up to $8 for a brief time.
Source: Twitter
Many users who received the loyalty token sold it off instantly. This resulted in the price slipping later. But the number of users who claimed them is proof of its success. Dune Analytics, one of the leading on-chain analytics providers have found that 1909,800 eligible wallets have claimed their UNI airdrop. This is equivalent to over 117 Million UNI tokens or 78% of the total dropped. A major proportion of the tokens were already claimed on September 17th. Subsequent to this the number has been going down ever since indicating that there could still be about more than $30 million unclaimed UNI still out in the market.
Dune Analytics also made another parallel comparison to Apple that has recently launched a novel operation system. It said that only 17% had actually installed the system at the same time. This was marked as not a fair comparison. The analytics provider also added that the supply should begin to show signs of stabilization considering that the hitherto airdrop frenzy is over:
“Beyond the 83,333.33 UNI per pool per day (four pools) for liquidity mining, it seems fair to assume that circulating supply is now going to be fairly stable in the next couple of months.”
As per the latest estimate there was $1.46 billion distributed across four UNI’s liquidity pools. Out of them, the ETH/WBTC pool was considered the most popular of them all of which also comprised 30% of the total. As of the prices of UNI, it seems to have caught up back on $5 as crypto markets that have come back from a week of losses. The token is slowly inching towards a new high which is better from its lowest of low at $3.70 on September 22’nd till it reached today’s levels.
Source: Tradingview
UNI has been saving itself from a lot of marketwide dumps. And in the global market downward slides, a lot of its contemporaries had been affected intensively. Despite all this, UNI still has maintained its level above waters and has been mainly spared of the ramifications. Total value locked which is also an important indicator to determine the success of the project and as of now, Uniswap has seen a drop to the second spot on DeFi charts with TVL of $1.87 billion as per the data of DeFi Pulse.