Uniswap Founder Hayden Adams Burned HayCoins, Enabling the Token to Earn More Than $4 Million

Crypto News – By burning 99.9% of his HayCoin assets on October 20th, Uniswap creator Hayden Adams made a momentous step. After the action, the token’s worth increased to nearly $4 million.

Uniswap Founder Hayden Adams Burned HayCoins, Enabling the Token to Earn More Than $4 Million

Adams’ choice was a reaction to the current uptick in trading and speculative activity within the cryptocurrency community. Only a small portion of the total supply of HayCoin, which was first developed as a testing platform for the introduction of Uniswap v1, was distributed, with the vast bulk being kept in Hayden’s wallet.

Adams started the burn, though, because of a recent, unexpected rise in trade activity. “Crypto can be weird sometimes,” he said, expressing amazement at how the token has been used as a meme coin.

Adams continued by saying that he felt uneasy owning such a sizable amount of the token’s supply. In addition, he declared that moving forward, he would not be working on the token.

I will have no future involvement, have burned all the HAY in my wallet, and think speculating on it is silly. Also prefer a new logo that is not my PFP – ultimately if my photo is used in this way I may consider image takedowns.

Adams

HayCoin Price Skyrockets Above $4 Million

In the hours following the burn, the price of HayCoin rose dramatically. According to data from CoinGecko, it increased from about $657,000 at 7:00 p.m. on Friday to over $4 million three hours later. The token’s price has soared by more than 300% as a result of the burning event.