Uniswap faces market uncertainty due to a developer's controversial actions around the FRENS token. While Uniswap's activity declined post-controversy...
While AzFlin denied a deliberate rug pull, he confirmed the sale of a portion of FRENS tokens sourced from the liquidity pool. He justified this action by asserting that the tokens had originally been acquired using personal funds.
Interestingly, the FRENS token incident is not an isolated occurrence within the Base network. In a similar fashion, the BALD memecoin saw significant interest and hit a market cap of $85 million, before falling victim to a rug pull executed by its deployer in July.Despite Founder Hayden’s efforts to address concerns and dispel fears surrounding Uniswap, the protocol experienced setbacks. Within a 24-hour timeframe, Uniswap’s activity plummeted by 27.3%, accompanied by a decline of 13.
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