Founder of Uniswap Burns 99% of HayCoin’s Total Supply

Hayden Adams, the founder of Uniswap, has set the crypto world abuzz by destroying 99.99% of HayCoin's total supply. This unexpected move caused a 300% price spike.

Founder Of Uniswap Burns 99% Of Haycoin’s Total Supply_65b96d77e8d7f.jpeg

Uniswap founder Hayden Adams has made a surprising move by burning a staggering 99.99% of HayCoin’s total supply, a cryptocurrency he had been experimenting with since 2018.

The Decision to Eliminate Most of HayCoin’s Supply

Feeling uncomfortable owning nearly the entire supply, Hayden Adams decided to burn 99.99% of his HayCoin tokens. He confirmed this decision in a tweet on his personal Twitter account.

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 mainnet could be used as as a testnet. After the launch of v1, I created a small test liquidity pool with a tiny fraction of the total…

— hayden.eth 🦄 (@haydenzadams) October 20, 2023

Adams also emphasized that he did not sell any HAY tokens before announcing the burn.

This decision has propelled the price of HayCoin to skyrocket by 300%, and it is currently trading at an astonishing $2.28 million.

founder of uniswap burns 99 of haycoins total supply 65b96d77ec193

Realated: Uniswap Introduces Interface Fee Starting October 17

The “History” of HayCoin

Before launching Uniswap V1, Hayden created HayCoin primarily for experimentation purposes.

Adams shared that after the launch of V1, he established a test liquidity pool with a small portion of the HayCoin supply and left the rest in his wallet. At that time, he used HayCoin simply to evaluate the process of transitioning the contract from Uniswap V1 to V2. However, over the years, some people noticed and acquired HayCoin as a novelty or for its uniqueness.

He said:

“I was extremely surprised to see people trading HayCoin in the past week and treating it as a meme coin. Cryptocurrency can sometimes be quite quirky.”

Hayden firmly stated that he will have no further involvement with this coin, and any speculation about the future of HayCoin seems pointless, as he seems to have put an end to the entire supply.

Frequently Asked Questions (FAQs)

  1. What is HayCoin? HayCoin is a cryptocurrency created by Hayden Adams, the founder of Uniswap, for experimental purposes. It has recently gained attention as a meme coin.
  2. Why did Hayden Adams decide to burn the majority of HayCoin’s supply? Hayden Adams felt uncomfortable owning nearly all of the HayCoin supply and decided to burn 99.99% of it.
  3. What impact did the decision to burn HayCoin have on its price? The decision led to a 300% surge in the price of HayCoin, which is now trading at a significant value.
  4. Will HayCoin have a future in the cryptocurrency market? Hayden Adams has distanced himself from HayCoin, making any predictions about its future uncertain.
  5. What can we learn from the HayCoin story? The HayCoin story highlights the unpredictable and quirky nature of the cryptocurrency market, where even an experimental coin can become a sensation.

5.0/5

(100 votes)

Leave a Reply

Your email address will not be published. Required fields are marked *

Latest

Binance Announces Mew Memecoin Listing On Binance Futures

Editor Choice | Altcoin

Binance Announces MEW Memecoin Listing on Binance Futures

Binance Exchange Announces Listing of Cat in a Dogs World (MEW) - A Memecoin Developed on Solana, on Binance Futures.

Azcnews Eth Drops Sharply As Whales Increase Accumulation

News | Altcoin | Editor Choice

ETH Drops Sharply as Whales Increase Accumulation

Ethereum whales have accumulated substantial amounts of ETH over the past few days. Despite these developments, the price has remained stagnant.

How To Receive Notcoin (not) On Bingx

Airdrops | Editor Choice

How to Receive Notcoin (NOT) on BingX

The cryptocurrency exchange BingX is excited to announce the listing of Notcoin (NOT) on its platform. In celebration of this listing, BingX is launching a Notcoin rewards program with a massive total prize pool of 2,500,500 NOT.

Azcnews Bitcoin Drops To $65,000 Despite Positive Indicators

News | Bitcoin | Editor Choice

Bitcoin Drops to $65,000 Despite Positive Indicators

Bitcoin's price has dropped nearly 5% over the past seven days. Most metrics and market indicators suggest that this downward trend is likely to continue.

Guide To Participate In The Beacon Airdrop

Editor Choice | Airdrops

Guide to Participate in The Beacon Airdrop

The Beacon is a fantasy-themed roguelite role-playing game developed on Arbitrum. The Beacon has confirmed that it will conduct an airdrop for the community through various missions. Join the AZCNews team in participating in The Beacon Airdrop today!