UNI Token Fully Circulating: Analysis of On-Chain Data

PANews reported on September 17th that on-chain analyst Ember analyzed UNI, now fully circulating after a four-year unlock period. UNI was launched in September 2020, with a total of 83% (830 million UNI) distributed to the team, investors, advisors, and the community treasury. This portion of the UNI had a four-year unlock period.

Here is the breakdown of the UNI token distribution:

• LP Staking Rewards: 2% (distributed through liquidity mining from September to November 2020)
• Early User Airdrop: 15%
• Community Treasury: 43% (four-year unlock period)
• Team/Investors/Advisors: 40% (four-year unlock period)

The 17% allocated to LP mining and airdrops were fully circulating from the start, so the analysis focuses on the community treasury and the team/investors/advisors portion.

1. Community Treasury (43%)

The community treasury received 430 million UNI, all now unlocked. The treasury currently holds 399,789,850 UNI, meaning 30,210,150 UNI have been released into the market over the past four years.

2. Team/Investors/Advisors (40%)

This group received 400 million UNI, all now unlocked. Analysis of the addresses holding this portion shows 58,164,177 UNI have been released into the market. Due to large holders like a16z retaining their holdings, the overall selling pressure has been minimal.

Conclusion

With the community treasury and team/investors/advisors having released a relatively small number of UNI (88.37 million), the majority of the unlocked tokens remain unsold. This suggests that the actual circulating supply of UNI is around 258.3 million (25.83% of the total supply).