HayCoin Price Soars as Uniswap Creator Burns 99.99% of Test Coin Supply
HayCoin, a test coin created by Uniswap founder Hayden Adams, has experienced a dramatic surge in value after Adams decided to burn 99.99% of the token's supply.
At the time of writing, HayCoin is trading at $2,538,123, up by more than 273% over the past day, according to data from CoinGecko.
Adams revealed his decision in a Friday post on X (formerly Twitter), expressing discomfort with owning "almost the entire supply" of HayCoin.
As a result, he burned 99.99% of the token's supply that was in his possession, leading to a significant increase in the price of HayCoin.
"I’m uncomfortable owning almost the entire supply (~99.99%) of a token that people are memeing and speculating on, so I decided to burn the full amount in my wallet (”valued” at an absurd ~$650b)."
In the post, Adams also shared details about the origins of HayCoin, explaining that he initially deployed it for testing purposes before the launch of Uniswap V1.
He created a small test liquidity pool using a fraction of the total supply and kept the rest in his wallet.
Over time, some individuals noticed HayCoin and bought it as a novelty or for amusement.
Expressing his surprise, Adams mentioned how people started trading significant amounts of HayCoin in recent weeks, treating it like a memecoin.
He acknowledged the unpredictable and eccentric nature of the crypto world, commenting, "Crypto can be weird sometimes."
Adams made it clear that he would no longer be involved with HayCoin, as he had burned his entire supply. Speculating on the token, in his opinion, would be nonsensical or "silly."
"To be extremely clear, I will have no future involvement, have burned all the HAY in my wallet, and think speculating on it is silly," he wrote.
"Also prefer a new logo
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