Uniswap Founder Reveals Sam-Bankman Fried Paid 7 Figures for Uniswap.com and Lost It
Uniswap founder Hayden Adams has dusted off a narrative from the protocol’s early years. He says Sam Bankman-Fried (SBF) as soon as paid seven figures for the Uniswap.com area, then pointed it at a fork.
Adams volunteered the account on X below a submit about a16z.vc. Someone parked that handle with an open provide to promote it to Andreessen Horowitz, the enterprise agency often called a16z.
How SBF Ended Up Owning the Uniswap.com Domain
The authentic homeowners wished seven figures, which means at the least $1 million. Uniswap walked away from that value. Bankman-Fried paid it anyway, Adams says.
He then aimed the area at a fork, a copycat change operating on Uniswap’s open-source code. Adams didn’t title the fork. He additionally stopped in need of claiming to know the motive, and mentioned he might solely guess at it.
The timing stays open as nicely. Bankman-Fried took management of SushiSwap, one of the best identified Uniswap fork, in September 2020 after its nameless founder handed over the keys. Adams didn’t say whether or not the area matches that interval.
The stakes went past ego, although. Uniswap runs its app on a .org handle, so some merchants kind the .com model first. Whoever controls that handle decides the place these guests land.
However, the redirect handed Uniswap a gap. Adams says his legal professionals known as it malicious use of the area, and that argument alone recovered the handle for nothing. Uniswap.com now factors to the protocol’s official web site.
Adams didn’t say whether or not Bankman-Fried obtained something again. He additionally didn’t describe the method his legal professionals used.
Where the Buyer Stands Now
Bankman-Fried faces steeper problems right now. A jury convicted the FTX founding father of fraud in November 2023, and a decide ordered 25 years in jail plus an $11 billion forfeiture. A petition to the Supreme Court is his final open door.
Uniswap, in the meantime, stored transport. Governance switched on protocol charges in December and began burning UNI, the protocol’s governance token. More than 100 million UNI had reached the burn handle by February.
UNI trades near $8.78, roughly double its stage a month earlier. Most of that acquire arrived in a single sharp leg larger after the center of September. Whale wallets had already purchased on the fastest pace in five years throughout August, and Bitwise has individually filed for a spot Uniswap ETF.
Therefore the area story reads as a footnote. Still, it exhibits what the fork rivalry regarded like away from the charts. Money purchased the handle, and legal professionals took it again.
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