Uniswap Founder Hayden Adams Announces Complete Burn of 99.99% HayCoin Holdings

Uniswap Founder Hayden Adams Announces Complete Burn of 99.99% HayCoin Holdings

Crypto News – HayCoin, a relatively new cryptocurrency, has recently caught the attention of the crypto community, but its creator had a very different purpose in mind when launching it, distinct from the speculative fervor surrounding the coin.

In a recent tweet, Hayden Adams, the visionary behind the popular decentralized exchange Uniswap, opened up about his association with HayCoin. He shed light on the coin’s origin story and dropped a bombshell – he is disposing of his entire HayCoin portfolio, which comprises a staggering 99.99% of the total supply.

Adams revealed that he initially deployed HayCoin for testing purposes about five years ago, even before the launch of Uniswap v1. At that time, gas fees were significantly lower, allowing the Ethereum mainnet to double as a testnet.

Following the release of Uniswap v1, Adams created a modest liquidity pool with a portion of the total HayCoin supply, while the rest remained in his wallet. This reserve served as a testing ground for the migration contract from Uniswap v1 to v2.

Over time, HayCoin had attracted attention from a few individuals who acquired it either as a joke or for its novelty factor. However, the recent surge in trading activity surrounding HayCoin took Adams by surprise.

Faced with this unexpected turn of events, Adams expressed his discomfort in holding nearly the entire supply of HayCoin, amounting to approximately 99.99%, while the token became a subject of memes and speculation. In response, he made the unconventional decision to burn his entire HayCoin balance, despite its seemingly absurd valuation of approximately $650 billion.

Furthermore, Adams declared his intention to sever all future ties with HayCoin. He also emphasized his preference for a new logo for HayCoin that doesn’t feature his profile picture (PFP).