While Bitcoin has once again established why it has been called the leading digital asset in the crypto market, only a small fraction of traders are noting things that are happening around them. Uniswap did an airdrop in 2020, which saw several of their members gifted with UNI tokens worth very small.
The token has seen a sporadic rise in value over the months since last year to stay top of the chart in the decentralized finance sector. While Bitcoin finished up last year as the hero, other digital assets also finished up 2020 strong, but the digital asset was able to overshadow their rise. Uniswap is a decentralized exchange platform located on the Ethereum blockchain, allowing users to trade in a decentralized way.
The tokens were worth $4 when it was airdropped
The protocol has held its position as number one through so many achievements, with one of them being that users are rewarded duly if they provide liquidity in the pools. With this, investors and traders can earn in the site and trade tokens without being verified, thus eliminating financial institutions.
With so many numerous features and services, the token only created its native token around the middle of last year. While the airdrop was announced, the protocol said that only users active in the protocol within a certain period would be eligible for the rewards that will be gotten.
Users were then awarded close to 400 UNI tokens, with one token worth about $3 to $4 at the period. After the airdrop period, some members decided to profit, selling their rewards, while some chose to keep their long term. Those who decided to keep theirs long-term will be cashing in on their profit at the moment if they wish to, while those that cashed in then would be ruing their loss.
1inch records massive boom of its airdropped tokens
With several happenings in the crypto market, especially with the double explosion in the decentralized finance sector over last year and this year, one UNI token goes for close to $30 at this point. This means that those that chose not to sell their rewards at the period would be looking at their $12,000 worth of UNI tokens sitting in their wallets. Another mind-blowing fact is that they got the money entirely free of charge.
With the success that Uniswap enjoyed during the period of the airdrop, several other protocols and exchanges took the initiative and announced their airdrops. One such exchange that has seen a massive price surge in its coin after the airdrop is 1inch. Presently, the coins that it gave out at the period of the airdrop are now worth thousands of dollars even though it is not worth more than UNI tokens at present.