A major holder of Unisocks (SOCKS) redeemed $ 875,000 tokens at the exchange rate at the time of writing in exchange for nine pairs of socks that secured the digital assets.
In May 2019, Uniswap decentralized exchange released 500 meme tokens, each valued at $ 12. Subsequently, the limited supply of SOCKS and the growing popularity of the trading platform contributed to the price increase.
Tokens can be returned to the pool at any time. Each of them entitles you to one pair of socks – it is shipped all over the world. Redeemed SOCKS are removed from circulation.
At the time of writing, Unisocks is trading at $ 97,000. The price of SOCKS surged above $ 160,000 in March, according to CoinGecko.
A total of 195 tokens were redeemed, with another 19 available for purchase on the Unisocks Exchange website.
Recall, on May 5, the third version of the Uniswap protocol was launched on the Ethereum network.
Previously, Tiktoker jokingly created the SCAM cryptocurrency. Within an hour, its capitalization soared to $ 70 million.
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