- Ric Burton, Balance CEO, alleges betrayal from Uniswap founder Hayden Adams over unpaid debts.
- Burton had invested time, money and friendship in helping Adams to get Uniswap off the ground.
- Adams raised over $1m for the project but Burton believes he was not repaid as promised.
The Beginning of a Friendship
In Spring 2018 Ric Burton, Balance CEO, began searching for dApp developers. He held events and provided studio space to promising developers. One of these was Hayden Adams and his idea for an AMM DEX platform – Uniswap. Burton quickly became close with Adams, supporting each other through their respective struggles to make it in the crypto world. To help him out when funds were running low, Burton even paid rent on behalf of Adams.
Uniswap Takes Off
Realizing the potential of the protocol, Uniswap attracted attention from Ethereum Foundation and crypto investment firm Paradigm. With their support the future looked bright for the project. However this is where things take a turn for the worse between Burton and Adams as promises made were not kept by both parties.
Adams Goes AWOL
Adams told Burton he intended to include him in the Uniswap round as repayment for his help but this did not happen after March 2019 when personal difficulties hit Burton including losing his grandmother and leaving Balance due to conflicts with co-founder. In that same month it was reported that Uniswap had raised over $1m yet there was still no repayments made to Burton as promised by Adams leading up to that point.