The founder of Uniswap was brought to court by early investors, what is right and what is wrong?

Original title: " Hayden, an early supporter and founder of Uniswap, "teared up" because of money. Who is lying? "

Original author: Jordan, PA News

Uniswap is still the well-deserved leader of DEX in the cryptocurrency market, but as an early investor of the project, Balance.io CEO Ric Burton recently revealed that Ric Burton even took Hayden to court, but Hayden called all of this a lie.

PANews compiled the content of both parties as follows:

Ric Burton tweeted that , I've wanted to tell this story publicly for years, but couldn't bring myself to do it because there's so much love and sadness in it. However, with some changes in my life, I realized one thing: some old stories need to be published, otherwise I will not be able to continue new adventures.

Let's go back to the New York spring of 2018, when summer was approaching, but the cryptocurrency industry entered a cold winter, and the entire market was shrouded in depression. At the time, I was the CEO of Balance.io, a company that provides an interface service on Ethereum, and the original intention of starting the company was because we felt that most Dapps were terrible. So, I decided to fund some Dapp developers, giving them money, time, studios, and love, and invested in projects like WalletConnect, The Graph, and Uniswap.

At that time, there was a developer who left a deep impression on me. He was: Hayden Adams. The first time I saw him, he would talk about Uniswap. It took me a while to understand this project, and then I was deeply attracted by this project, so I decided to help him as much as I could.

Hayden Adams and I were very close at the time and we both In trying to do one thing: make Ethereum more magical, Hayden Adams and I have supported each other in trying to build startups in an ecosystem of not many solid projects, and I have great admiration for his tenacity and focus.< /p>

The idea of an automated market maker (AMM) is not new. Many have explored the concept before. But Hayden Adams had a key insight: the need to incentivize liquidity and completely focused on ease of use. When Hayden Adams couldn't afford the rent, Balance and I kept him afloat with limited funds, allowing him unlimited use of our studio, when Vitalik Buterin wasn't investing at this stage At that time, Hayden Adams had only one faithful believer, which was me.

Next, we started to exchange interfaces.

In the summer of 2018, we launched Balance Exchange, powered by ShapeShift's API, which was also an engineering effort by the entire team. At the time, Balance Exchange worked with people from across the crypto ecosystem, including Hayden Adams and each other also found a great design pattern for exchanging tokens.

However, Hayden Adams has no money again, so I started thinking about how to help him raise funds , and all possibilities are studied: starting from offering Token to equity crowdfunding. In the end, Vitalik Buterin realized that Uniswap had great potential, so the Ethereum Foundation participated in the investment.

At this point, I made a mistake that kept me awake for countless nights: I believed Hayden Adams, he told me that he would let me participate in Uniswap's next round I was very happy at that time, so I introduced him to Fred Ehrsam, the co-founder of Paradigm, because I think Hayden Adams needs the support of Paradigm, they are the most popular in the cryptocurrency field. One of the sharpest teams, and cared a lot about the ecosystem (although Paradigm declined to invest in my company, Balance), but I knew Hayden Adams would be a great fit, so I told him to visit Fred Ehrsam and paid for the trip.

So, Hayden Adams came to San Francisco and showed Uniswap to Paradigm, and decided to transform the project from a non-profit organization to a start-up company, and even hope to raise a larger one Round of financing - it can be said that I "given" him to Paradigm, and this is the second mistake I made.

Dan Robinson is a programmer/lawyer at Paradigm. The picture below is a photo of him discussing Uniswap with Hayden Adams and us in New York. You can see that we all High spirits.

I was really happy for Hayden Adams, this Things are going up for the guy, he's throwing himself into coding and working on interface ideas with our team. The Uniswap project is also progressing, and at one point I thought Hayden Adams was one of my closest friends in New York. Honestly, I was Even willing to take a bullet for him. Hayden Adams gets along well with my family, my closest friends, and my longtime friends, and his enthusiasm is contagious. I love watching him work and do what I can to support He, we have so many fond memories.

I introduced Hayden Adams to as many engineers, designers and financiers as I could, helping the early days of Uniswap The team hired many key people.

But in the next moment, the atmosphere of our relationship completely changed...

In March 2019, my grandmother passed away and I flew home to attend the funeral. It was a few days of deep grief. But the day before the funeral, the co-founder of Balance asked I resigned as CEO and emailed me, an email received at a very bad time. To this day, that time is the most painful thing I have ever experienced in my career after being Feeling bad about asking to leave my company.

But Uniswap is doing surprisingly well, Hayden Adams raised over $1 million, I thought he was going to let I got involved, but it turns out that Paradigm has other ideas - they don't want a failed founder on the Uniswap directory, which is of course perfectly reasonable.

However, there is one thing that makes me dissatisfied. Hayden Adams never gave me a dividend, he took the money himself, and never offered to compensate me. He started ignoring me.

However, when UNI Token Things started to change again when the program started. Hayden Adams, realizing that he had to pay his debts, asked me to sign a gag order banning me from speaking of his name in any public place, as long as I agreed, I could be at UNI Token Pay me back before launch. It's arguably one of the most offensive contracts I've ever seen, so now -- I've decided to sue him, here's a screenshot of the lawsuit:

Forgive me for taking the time to write all these stories, I also want the community to have time to digest this document. You can ask me questions, criticize me, object to any claims, give me constructive feedback, whatever. If you feel that what I said is completely unreasonable, you can also You can tell me, because I want to use Uniswap's governance to resolve this dispute.

Next, let's look at Hayden Adams' response:

Ric Burton was one of the many early backers I met about 8 months after building Uniswap, and I am saddened and disappointed by his recent comments, which were extremely Misleading and downright false. I've been hesitant to respond to Ric Burton as he's currently suing me (actually, most of his lawsuits have been dismissed) so thought twice about sharing some details to help Clarify the facts.

At that time, Ric Burton did get the opportunity to invest in Uniswap. I sent him a simple agreement for future equity with a blank amount (Simple Agreement for Future Equity) so that he could fill in the amount he wanted to invest, but he chose not to because his company Balance could only last about 1 month at the time.

< /p>

Ric Burton confuses time and facts, comparing his rejection of a simple deal for future equity with the Funds mixed up. To clarify, he did give me a grant, but it happened in the early stages of Uniswap, but he later declined the opportunity to invest in Uniswap again. Then, I offered to pay him back, but was rejected to reject.

Ric Burton is also wrong to claim that I got financing from Paradigm was his idea. I am talking to Ric Burton Knew Dan Robinson before I knew each other, we became friends, it was Dan Robinson who introduced me to Paradigm. Ric Burton was lying when he said his breach of contract claim was going to trial and it has been rejected by a judge - all Records are public.

I could go on and on about more lies in Ric Burton's recent tweets, but in the end I decided to cut ties with him Get in touch because he treats everyone around him, including my friends and colleagues, really badly. Nonetheless, I am grateful for the role Ric Burton played in the history of Uniswap development. I'm sure Ric Burton will give me a big thumbs up for my reply Accusations, but I will not respond further.

Thank you so much for all the support people have given me, now I'm going back to work.

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