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.
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.