Uniswap Labs terminated an employee who removed liquidity from the FRENS meme coin deployed on Base.
Photo by Birgitte Heiberg on Unsplash
Posted August 13, 2023 at 10:18 pm EST.
Uniswap developer Allen Lin, known better through his Twitter pseudonym “AzFlin,” was accused of pulling liquidity from the FrensTech (FRENS) memecoin hours after it was deployed on Coinbase’s newly launched Layer 2 network Base.
Wanted to let people know this person is no longer with the company.
Not behavior we support or condone. https://t.co/sxVowwIR3Q
— hayden.eth 🦄 (@haydenzadams) August 12, 2023
Hayden Adams, founder and CEO of Uniswap Labs, said that Lin had been fired for his actions.
Blockchain users accused Lin of effectively orchestrating a rug pull on FRENS by moving 14 ETH off the base chain through the Hop cross-chain protocol shortly after its deployment. At the time of writing, 14 ETH amounted to just $25,700.
Lin, however, has a different story, and claims that he removed 1 ETH of liquidity which he provided with funds from his developer wallet.
After tracing his transactions on BaseScan, users came to a different conclusion, pointing out that he sold the 1 ETH into a Liquidity Pool (LP) of the FRENS token, sold shares and then bridged 14 ETH off chain. Blockchain user “@UniswapVillain” accused Lin of using the project as a flywheel to use the tax to buy shares and pump the price of the token.
“Yes, I did then sell the FRENS from that LP. The token was already cooked at that point (30k mktcap). I bought that FRENS used to provide LP with my OWN money from the dev wallet, so I am entitled to do as I please with it. This FUD is outrageous,” said Lin on Twitter.
To those who think I rugged 14E: that came from dev taxes. It belonged to me.
I know whatever I say, the low IQ CT narrative has already been spun. I will not comment further on this anymore, everything is on chain.
— AzFlin 🦎 (unemployment arc) (@AzFlin) August 13, 2023
When one user pointed out that it was still unethical to dump a token that he created on the market, Lin said he admitted that was a mistake and “regrets that fully.”
“got fired from uniswap, but gained 600 new followers and CT villain status net neutral tbh,” tweeted Lin.
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- Source: https://unchainedcrypto.com/uniswap-fires-employee-that-allegedly-rugged-memecoin-on-base-network/
