- One of the earliest supporters of Uniswap sues Hayden Adams.
- Charged with ‘Breach of Contract,’ Adams fires back on Twitter.
- Burton set up an NFT contest portraying Hayden’s impalement.
Ric Burton, an early and devoted supporter of the Uniswap unicorn, sued the young crypto mogul Hayden Adams for breach of contract, claiming that Mr. Adams “was enriched by hundreds of millions of dollars” at Mr. Burton’s expense. The disappointed crypto investor also emphasized that he had to go against his nature to file the legal complaint.
We began formal communication with Hayden after the launch of the $UNI token. There was zero interest in a reasonable settlement.— Ric.eth (@ricburton) February 4, 2023
So we filed an official complaint.
Here is the contents of that complaint as images.
If you want the PDF, send me a DM. pic.twitter.com/cZPQ5Xm2M3
These allegations stem from the financial aid and various kinds of other support that Richard Burton showed to the Uniswap Protocol inventor over the years. The two were close friends and business partners until Paradigm stepped into Uniswap’s initial funding round and allegedly cut ties with Ric.
In addition, the plaintiff alleges that he was denied the opportunity to invest in Uniswap when the first institutional investors were onboarded. Last but not least, Ric Burton says the lawsuit is going to trial, but Hayden Adams claims the exact opposite – he deems the case dismissed.
6/— hayden.eth 🦄 (@haydenzadams) February 6, 2023
Ric is lying when he says his breach of contract claim is going to trial.
That claim has already been dismissed by a judge - and is a matter of public record. pic.twitter.com/WVO3Chhheb
Ric Gets Uniswapped
As the lawsuit reads the plaintiff’s aim to “seek for restitution for unjust enrichment,” it might look like an early investor missed success and is now bitter and desperate to nab a slice of the cake. Be that as it may, there are many more sides to Mr. Burton’s sob story.
Indeed, Ric also claims emotional damage in his Twitter thread, revealing that it’s “hard to talk about even after 5 years”. While the legal documents might indicate that it’s mostly about some pragmatic justice or simply unreturned money, Ric Burton’s statements on Twitter paint a different picture.
For instance, the crypto investor testified that Hayden Adams never attempted to return the money invested in design, infrastructure, office space, and living expenses. According to Burton, the Uniswap founder completely ignored him and left the ex-partner “so heart-broken on multiple levels, I just could not focus on things to do with money.”
Hayden never sent me the money back. He kept it.— Ric.eth (@ricburton) February 3, 2023
He never offered to repay me. He simply started to ignore me.
I was so heartbroken on multiple levels I just could not focus on things to do with money.
However, things started to change when the $UNI token planning began.
$1,085 for Hayden Impaled by Unicorn
The crypto soap opera between two ex-partners and close friends takes another sharp turn here, as Ric Burton launched a contest for digital artists to create an NFT illustrating the crypto heartbreaker Hayden Adams getting impaled by a unicorn or “something else totally hilarious for the press.” In 24 hours, three winners will be selected to share their prize pool of 0.66 Ethereum (ETH).
Currently, the leading NFT art piece by votes is “Hayden getting f*#$% by a unicorn,” exquisitely sketched by the NFT artist Andrs. The illustration depicts Mr. Adams being penetrated from behind by a happy unicorn. If it wins, it will fetch the author 0.33 Ethereum (ETH), equalling $542 at the time of this publication.
Mint on Goerli/testnet "Hayden getting f*#$% by a unicorn"https://t.co/f7AcUzvw08 pic.twitter.com/nzUiEYDwHj— Andrs (@0xAndrs) February 6, 2023
On the Flipside
- The plaintiff Ric Burton also admitted that he had refused a settlement offer from Hayden Adams before the $UNI token launch.
- Mr. Burton deemed the agreement conditions’ offensive,’ as it would cut public association with the crypto entrepreneur.
- Ric Burton had to step down as Balance CEO before Uniswap rose to meteoric success and became the leading DeFi crypto exchange.
Why You Should Care
Uniswap is a highly-successful DeFi crypto protocol aggregating exchange quotes from multiple resources. Uniswap’s native cryptocurrency was initially listed at just $0.26, rising to $6.78 today.
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