This is my first post so excuse me if it is a bit incoherent, it was compiled in a hurry as I was in such ecstasy at the time of writing!
Sh!t just got real as Uniswap listed their own governance token (UNI) today in combat against the trending food section. . .
Basically if you were a liquidity provider on Uniswap before or on the first of September (when the snapshot was taken) you earned yourself some JUICY (as Ivan on Tech will call it) UNI tokens.
As I you can imagine the ETH blockchain got clogged with everyone trying to get in on the action and claim their UNI, I remember opening my Binance mobile app this morning to check the markets (before I heard of UNI myself) I saw this booming gem (UNI) at about 900% gains and thought to myself DAMN! Wish I had a bag of those.
On my merry way I continue with my day. . . Until later when I started consuming my crypto news for the day.
I read an article which didn't contain much info, but what struck me was that Uniswap ultimately released their own token and Boom, obviously went to Uniswap where I previously provided liquidity in the form of Statera aka STA/Eth or Delta tokens (I thought this liquidity was an epic fail as the gas cost me more than I expected to gain) needless to say I left it at that hoping that Ethereum 2.0 will come and with that the sharding etc so that I can eventually see if I made something.
To my amazement I was indeed lucky to find that Juicy UNI waiting to be claimed.
But wait there's more! More gas fees that is. . . !
The first Image is from Luno, that is one of the better exchanges in South Africa (that's where I'm from) to get your fiat to crypto fast. Usually I buy XRP on Luno with ZAR and then send the XRP to Binance to exchange it there to whatever I'm looking for, seeing as Luno only has BTC, ETH, LTC, BCH and XRP, and XRP is the cheapest to send.
The R174.74 gas fee was $10,77 to send $34,34 to Uniswap in order to have enough ETH in Uniswap to be able to claim my UNI, the claiming process took a further 0.040935 ETH ($15.54) out of my wallet. Total of $26.31 in gas for two transactions just to claim these bad boys! That is R427,21 in my local currency.
If you ever supplied liquidity to Uniswap go see if your UNI tokens are waiting for you!
The address to add UNI to Metamask is 0x1f9840a85d5aF5bf1D1762F925BDADdC4201F984
At the time of finalizing this post UNI is at $3.83 on Binance! I don't know if I should sell or wait?
What do you think?
Do you think Uniswap is handing some Karma to Sushiswap?
PS if you haven't joined Binance yet, feel free to use my link, and get 10% commission kickback!
Thanks for reading.