UniSwap Liquidity Event

UniSwap Liquidity Event

Going into 2021 both HYVE and the industry in general will go through many changes as the year ahead of us starts to unfold. Before all that though, let us go into what we have prepared to start off the new year.

Photo by Nadin Mario on Unsplash

UniSwap Liquidity Event

To start off the new year in good fashion, the HYVE team has just provided liquidity on UniSwap.

In the end, we provided a total of 5,132,966 HYVE tokens and 99.17 ETH to UniSwap. At the time of providing it, this was the equivalent of $200K+.

We are locking the liquidity for 1 year and as such, this effectively means that we have reduced the total circulating supply by about 14.98% since 5,132,966 HYVE tokens are now locked in Uniswap for at least 1 year.

Our current share of the pool stands at ~78%.

Verifying our UniSwap Page

As many of you have raised this issue, we want to, first of all, make it clear that it is something we were thinking about as well. The issue lies in the fact that UniSwap verifies its projects through a third party, namely they do it through TrustWallet.

That wouldn’t have been a problem by itself, however, the Trust Wallet team requires every token that wants to be verified to exceed 2,500 total holder while we’re only at around 1,000 current holders.

On one hand, we’d greatly appreciate if you can share news about HYVE with your friends and help us in getting people on-boarded to HYVE. On the other hand, we just want to make it clear that we already have a plan to get to 2,500 holders and we are executing on it so this will happen soon either way.

Afterwards, the first point of action for us will be verifying our UniSwap page to make it easier for new users.

Future Updates

This is just the first update in a longer series of upcoming announcements. The distance between announcements will also be shortened by a lot compared to our previous ones. At the very least we already have a weekly announcement to make for the entire month of January.

We’d love to hear any feedback you have and get ready for a great year ahead!

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