TechFlow reports that on September 17, on-chain analyst Yu Jin released an analysis of UNI's token distribution after reaching full circulation status. Uniswap's governance token UNI has completed full unlocking, but the actual circulating supply remains at only 25.83% of the total supply. UNI was launched in September 2020, with 83% of tokens (830 million) allocated to the team, investors, advisors, and community treasury, all subject to a 4-year vesting period.
According to the analysis, out of the 430 million UNI tokens allocated to the community treasury, only 30.21 million have entered circulation. Of the 400 million UNI tokens allocated to the team, investors, and advisors, 58.16 million have entered the market. Combined, these two portions account for approximately 88.37 million UNI tokens in circulation.
The UNI token distribution is as follows: 2% for LP staking rewards, 15% airdropped to early users, 43% to the community treasury, and 40% to the team, investors, and advisors. The LP mining and airdrop portions (17% total) were fully circulated upon launch.
Notably, the top six recipients (including entities such as a16z) have largely refrained from selling their allocated UNI, contributing to the low overall sell-off ratio. Currently, the actual circulating supply of UNI is approximately 258.3 million tokens, representing 25.83% of the total supply.
