Uniswap Founder Burns 99% Of HayCoin (HAY) Supply, Value Soars
The post Uniswap Founder Burns 99% Of HayCoin (HAY) Supply, Value Soars appeared on BitcoinEthereumNews.com. Table of Contents Hayden Adams, founder of Uniswap, has burned 99% of the total HayCoin (HAY) supply, citing concerns surrounding price speculation over the past few days. Adams was considerably surprised at the recent surge in the token’s trading volume and its perceived transformation into a memes token. Uniswap Creator Burns HayCoin Holdings Adams burned over 99% of the HayCoin (HAY) token supply on the 20th of August and made the announcement on X (formerly Twitter). Adams revealed that he was concerned about the token’s price speculation over the past few days. He was also surprised at how the token was being treated like a meme coin, stating, “Crypto can be weird sometimes.” The HAY token was deployed around five years ago, primarily for testing purposes, just before the launch of the decentralized protocol Uniswap. At the time, Adams had created a small test liquidity pool with a fraction of the total supply. The remaining 99.9% of HAY tokens were held in his wallet. A few weeks ago, the HAY token was trading as a meme coin in the six-figure range, prompting Adams to act. “Five years ago, before the launch of Uniswap v1, I deployed a token called HayCoin to use for testing. This was back when gas was so cheap that the mainnet could be used as a testnet. After the launch of v1, I created a small test liquidity pool with a tiny fraction of the total supply and left the remainder in my wallet. I also used it to test the migration contract from Uniswap v1 to v2.” He also added that people had been purchasing the token as a joke and increasingly treating it like a meme coin. “Over the years, a few people have noticed it and bought it as a joke/for the novelty…
The post Uniswap Founder Burns 99% Of HayCoin (HAY) Supply, Value Soars appeared on BitcoinEthereumNews.com.
Table of Contents Hayden Adams, founder of Uniswap, has burned 99% of the total HayCoin (HAY) supply, citing concerns surrounding price speculation over the past few days. Adams was considerably surprised at the recent surge in the token’s trading volume and its perceived transformation into a memes token. Uniswap Creator Burns HayCoin Holdings Adams burned over 99% of the HayCoin (HAY) token supply on the 20th of August and made the announcement on X (formerly Twitter). Adams revealed that he was concerned about the token’s price speculation over the past few days. He was also surprised at how the token was being treated like a meme coin, stating, “Crypto can be weird sometimes.” The HAY token was deployed around five years ago, primarily for testing purposes, just before the launch of the decentralized protocol Uniswap. At the time, Adams had created a small test liquidity pool with a fraction of the total supply. The remaining 99.9% of HAY tokens were held in his wallet. A few weeks ago, the HAY token was trading as a meme coin in the six-figure range, prompting Adams to act. “Five years ago, before the launch of Uniswap v1, I deployed a token called HayCoin to use for testing. This was back when gas was so cheap that the mainnet could be used as a testnet. After the launch of v1, I created a small test liquidity pool with a tiny fraction of the total supply and left the remainder in my wallet. I also used it to test the migration contract from Uniswap v1 to v2.” He also added that people had been purchasing the token as a joke and increasingly treating it like a meme coin. “Over the years, a few people have noticed it and bought it as a joke/for the novelty…
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