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Ethereum NFT

What is SOCKS token used for?

How the SOCKS token is used for Unisocks. Unisocks is one of the first tokenized product. It was launched by Uniswap in 2019.

SOCKS token is


An ERC-20 token for a tokenized product – Unisocks.

SOCKS token is used for


  • Redeem 1 pair of Unisocks (from the team at Uniswap) shipped anywhere in the world.

How could value accrue to the token?


Burn

  • The token is burned when redeemed for a pair of socks.

Potential

High meme-factor.
Good for flexing on social media.

What is Unisocks?


Unisocks is one of the first tokenized product. It was launched by Uniswap in 2019.

500 tokens were issued and sold on a bonding curve. Where price goes up as more people buy or vice versa as people sell. After 100 days the liquidity was removed.

Tokens can now be bought and sold on unisocks.exchange or on uniswap.

Read more in this tweet or here.

Token Isssuance


Current supply: 305

Starting: 500
Redeemed: 195

Similar projects


SOCKS token price


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