Uniswap UNI Token farming ended
Always take in consideration non of this information is financial advice, Im no expert and this is just my personal opinion on certain project mention on this article, cryptocurrencies are extreme high risk assets and you must do you own research
After the biggest airdrop probably in the history of crypto, I’m not sure about that, the first purposes of the $UNI token was yield farming and also be use as the governance token for the platform, Uniswap offer a 60 days of yield farming through four liquidity pools, at the moment of this post holding over $1 Billion USD on ETHEREUM, based on current ETHEREUM price.
I first got into Uniswap because of Celsius Network, I was at first really attracted to the option to hold crypto and be able to make a loan based on the asset until I understood the risk, although Celsius Network was an awesome investment for me and I have been buying again.
After buying CEL at $0.35 cents to then sell at $0.75 I totally got out of it but in the processes I remember using up to three wallets and with that came the biggest airdrop I have ever get TOTALLY FREE, $3,348 USD in UNI tokens at a value of $2.79 per token, I woke up check twitter and got a bunch of tweets about a UNI airdrop, sold my first 400 and then find out that I had two more wallets, the same happen to a lot of people, I knew there was going to be some hype around it but didn’t want to risk it on FREE MONEY!!! It was already 100% profit so then the price went up until Binance listed on their futures platform, after that a roller coaster started, at first I didn’t long it but when Bears turn up the heat and dump all that UNI from $8 started to short it. Recently the price reach drop to $1.82 and it has been recovering to $3.82, that’s a nice recovery although the future of the token price is not so bright in the short term.
Going back to the liquidity pools, besides all the free UNI tokens going around the market this pools were generating 583,333 UNI tokens, per pool, peer week being paid to all the participants, IN MY HONEST PROBABLY WRONG OPINION that’s a lot of selling pressure coming their way, yes a lot of people probably panic and usually investors who cant sit on their hands meaning they need that money, that includes me btw; sell the tokens but those who believe in the project and can wait just let them panic and buy back, such action creates a pump like the one we saw few days ago, regarding the price it seems a bit over extended after the recent pump and the use of the token now that this pools are going to shut down is basically have a saying in the DEX direction but you need to hold a lot of UNI for that.
Here their most current Uniswap Liquidity Incentive Plan
I share the opinion that the UNI token was just a reaction to the vampire attack from Sushiswap in the short term, now they have a token that I really don’t know if it has a value, I don’t hold any UNI at the moment but I’m tempted to buy some since they may have something cooking backstage, I had the idea UNI could be a second BNB probably reaching same price targets of $50 since its basically the exchange with the most volume PERIOD, but with pools shutting down and besides governance I hope when UNISWAP v3 comes out there is something interesting or at least the UNI token provide some yield or some other use case within the platform, right now buying UNI is not within my plans because I don’t have the necessary liquidity since I’m just holding my long term BTC and ETH besides a couple of tokens I use on a daily basis for other platforms that currently pays me some sort of dividend.
I like sharing my opinion, never a fanboy of any project, and always been as impartial as possible, hope this helps you to understand my concern about the project and price of the token.
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