Because SOCKS are ERC-20 tokens, they can be used like any other ERC-20 token on Ethereum. Uniswap created an initial liquidity pool of 500 SOCKS and 35 ETH to facilitate trading; however, anyone can make a pool with SOCKS. Users have already made alternative Uniswap pools, including DAI/SOCKS and USDC/SOCKS.
Benedict Chan, CTO of BitGo talks about origins of WBTC, delivering trust in digital assets and exploring the depth of the programmable ecosystem. No part of the content we provide constitutes financial advice on coin prices, legal advice, or any other form of advice meant for you to rely on for any purpose. Any use or reliance on our content is solely at your own risk and discretion. The table above shows the number of days which Unisocks closed above a certain price level.
Unisocks has developed a sock with a built-in heater that can be controlled using an app. Unisocks has raised $1 million in funding from investors including Andreessen Horowitz, Index Ventures, and RRE Ventures. I founded Unisocks in 2013 to create a new type of sock, designed to improve comfort and breathability.
VOLUME (USD)
After at least 100 days, all remaining liquidity will be removed and the SOCKS tokens that are left will be burned. The Unisocks project was launched by the Uniswap team, and first brought to the limelight during the Fluidity Summit in New York City on May 9, 2019. In keeping with the zany and envelope-pushing nature of DeFi in 2020, the Unisocks project may seem completely absurd at first glance and a game between DeFi degens. However the end goal of shifting the borders of DeFi applications is very serious indeed, much like the MEME token that transformed the world of art and NFTs last year did. On top of price speculation, people purchase SOCKS believing they will be an important part of internet culture.
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Trading and investing in digital assets is highly speculative and comes with many risks. The analysis / stats on CoinCheckup.com are for informational purposes and should not be considered investment advice. Statements and financial information on CoinCheckup.com should not be construed as an endorsement or recommendation to buy, sell or hold. Please do your own research on all of your investments carefully. Scores are based on common sense Formulas that we personally use to analyse crypto coins & tokens.
This calculation is based on the circulating supply of Unisocks. Showing market cap and how it’s compared to different cryptocurrencies. X2,x10, etc. means if the price of Unisocks (SOCKS) will multiply by x2,x10, etc how much market cap it will have, and how it will compare then to the same coins. A bonding curve shows the relationship between the supply and price of the asset. Bitcoin has a limited supply, so whenever any new user purchases the bitcoin, it needs to pay slightly more. This is because supply decreases constantly and Price Increases.
- Unisocks has developed a sock with a built-in heater that can be controlled using an app.
- If you are new to Unisocks, we recommend reading our introductory guide first.
- Some of its known developers are Noah Zinsmeister, Uniswap’s engineering lead, and Callil Capuozzo, Uniswap’s designlLead.
- You are about to leave CryptoSlate in order to visit a cryptocurrency or ICO website.
- The Unisocks project was launched by the Uniswap team, and first brought to the limelight during the Fluidity Summit in New York City on May 9, 2019.
- SOCKS reached an all time high (ATH) price of over $12,000 on Jan. 19, 2021.
- $SOCKS will eventually find an equillibrium based on market demand.
There is no one-size-fits-all answer to this question, as the best way to invest in Unisocks (SOCKS) will vary depending on your individual circumstances. You are about to leave CryptoSlate in order to visit a cryptocurrency or ICO website. This link is provided solely for informational purposes and is not an endorsement in any way. We recommend that you exercise extreme caution and consult a registered investment advisor before taking any action. To check Unisocks’s price live in the fiat currency of your choice, you can use Crypto.com’s converter feature in the top-right corner of this page.
Which are the main Unisocks (SOCKS) exchanges
- Trading and investing in digital assets is highly speculative and comes with many risks.
- Unisocks has raised $1 million in funding from investors including Andreessen Horowitz, Index Ventures, and RRE Ventures.
- A coin is a digital asset that can be used as a medium of exchange.
- Cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and Ripple are some of the most popular coins available today.
- Coins are created and stored on distributed ledgers, such as blockchain networks, and are typically secured using cryptography.
- They are made of a cotton and polyester blend and have a rubber sole.
- Uniswap distributed 1000 UNI to each address that previously redeemed or held a SOCKS token at the snapshot date.
Unisocks are a type of socks that are designed to be worn with a different type of shoe. They are made of a cotton and polyester blend and have a rubber sole. They are distributed by Unisocks, Inc., which is based in the United States. Unisocks is a company that manufactures socks with built-in heaters. The company’s socks are designed to keep feet warm during cold weather.
So now the price is token A what is unisocks is 0.22 token B whereas earlier it was around 0.1 token B. So this is how the price exponentially increases when more and more tokens are purchased. Unisocks is using a similar concept, where they have minted only 500 SOCKS tokens, and every pair of socks represents one sock token. During the launch of uni socks, the price was around 55 USD but after two years it has reached almost USD 90k.
Additionally, Unisocks offers low fees for transactions and secure storage of funds. Instead of selling SOCKS at a fixed price and allowing the secondary market to determine their value, Uniswap chose to utilize a bonding curve for a dynamic pricing mechanism. In short, bonding curves allow for a token’s price to be a function of its supply. Every time a token is bought, the following tokens’ price increases at a rate specified by the curve. Imagine selling a pair of socks at a price of USD 90k, well, that is quite astonishing.
Unisocks also provides educational resources to help users learn more about cryptocurrencies and how to safely store them. The platform also offers customer support services in case any issues arise while trading or storing digital assets. Unisocks price today is $ 20,405 with a 24-hour trading volume of $ 203.08, market cap of $ 6.16M, and market dominance of 0.00%.