Take heed! If you have used Uniswap prior to 1st September 2020, you are eligible to claim 400 UNI tokens as a gesture of gratitude for using Uniswap.
At $3.82 per UNI token as at time of writing, 400 UNI is essentially more than $1,500 of free money for those who are eligible.
If you had used your MetaMask wallet and Uniswap to purchase any one of the recent tokens such as TrustSwap, Chain Games or 1UP before 1st September 2020, we have prepared a quick guide below to show you how you can claim your free 400 UNI tokens.
How to Claim UNI
- Go to Uniswap at https://app.uniswap.org/.
- Make sure your MetaMask is connected to Uniswap. If it is not connected, connect it now by clicking Connect to a wallet on the top right of the screen. Select your Metamask wallet when prompted and proceed with the permissions.
- Click on Uni at the top left of the screen.
- On the panel on the next screen, if your account is eligible, 400 UNI will be shown. Click Claim UNI.
- The 400 UNI is claimed and deposited directly into your MetaMask wallet.
Adding UNI to MetaMask Wallet
- In your MetaMask wallet, click on Add Token at the bottom of the screen.
- Click the Custom Token tab at the top.
- Under Contract Address, paste in 0x1f9840a85d5af5bf1d1762f925bdaddc4201f984. The Token Symbol UNI will be shown below it.
- Click Next and Add Token.
- Congratulations! You should now see your UNI token in your MetaMask wallet.
So, What Next…?
Now that you have claimed your UNI tokens, what are your options?
Well, you could hold on to UNI and speculate on it. There is a possibility that its value may go up as it is the token for the Uniswap protocol, and if Uniswap continues to grow in userbase and expand in its liquidity pool. You can read up more about Uniswap and the UNI token at https://uniswap.org/blog/uni/.
However, if you wish to play it safe and capture it at the current value, you may choose to convert it to ETH or any of the other tokens on Uniswap itself, or transfer the UNI to Binance and convert it to BTC or any other crypto available on that exchange. Just remember to have enough ETH in your MetaMask for the gas fee for these transactions.
Converting UNI to ETH
If you want to, you can convert your claimed UNI to ETH on Uniswap itself on the spot, after you have claimed and added UNI to your MetaMask wallet above.
- Ensure that Uniswap is still connected to your Metamask.
- Go to Swap in the top left menu if you are not on the Swap page.
- Select UNI in the From field and ETH in the To field.
- Key in an amount of UNI you would like to convert, or click Max to convert all UNI.
- Converting UNI to ETH (or any other crypto) on Uniswap is a 2-step process. Complete Part 1 and pay a nominal fee in gas to Approve UNI, followed by Part 2 to Swap. In our case, Part 1 cost about $3.80 and Part 2 cost about $16.00, paid in ETH. Ensure that you have enough ETH for these two transactions or the process will fail midway.
- Once Part 2 of the transaction above has gone through, the 400 UNI would have successfully converted to ETH and will be deposited to your MetaMask wallet.