Analysis of UNI on-chain chips that have entered full circulation
UNI was issued and listed in September 2020. The team/investors/advisors and the community treasury received a total of 83% of UNI (830 million pieces), which have a four-year unlocking cycle.
Now that four years have passed, these UNIs have been unlocked and UNI has become a fully circulated token. Let's take a look at how much of these 83% chips have flowed into the market from the chain, and what the actual circulation of UNI is like now.
First, let's understand the issuance and distribution of UNI:
◎LP staking rewards 2% (liquidity mining distribution from September to November 2020);
◎Early user airdrops 15%;
◎Community treasury 43% (4-year unlocking cycle);
◎Team/investors/advisors 40% (4-year unlocking cycle).
The 17% of LP mining + airdrops were all circulated at the beginning of the launch, so we only need to look at the community treasury and the team/investors/advisors.
Community Treasury (43%)
The community treasury has an allocation of 430 million UNI, which has been fully unlocked. The number of UNIs currently held by the community treasury address is 399,789,850 (Figure 1), which means that the total amount of UNIs that have flowed into the market from the community treasury in the past 4 years is 30,210,150.
Team/Investors/Advisors (40%)
The community treasury has an allocation of 400 million UNIs, which has been fully unlocked. I sorted out the addresses that received these UNI allocations, of which 58,164,177 UNIs flowed into the market (Figure 2).
Because the top six addresses (a16z, etc.) that received the allocations basically did not sell, the sales ratio is not high.
Summary
UNI has now been fully unlocked, with a circulation rate of 100% (1 billion).
However, since the community treasury and team/investors/advisors who own most of the chips have not sold many (88.37 million), most of the unlocked chips have not been sold yet, so the actual circulation of UNI is currently around 258.3 million (25.83% of the total).
