Uniswap Founder Accused of Betrayal By Balance CEO

  • 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.

Legal Action Against Adams

This led to legal action taken against Adams by Ric Burton who claims „heartbroken“ and „sad“ of how little respect he has been shown despite investing so much into supporting Uniswaps development early on while also providing emotional support during difficult times they both faced in their entrepreneurial endeavors together.

Conclusion This story serves as a warning about investing your trust into people or business partnerships without clear written contracts being established first before any forms of assistance are given out in good faith that can lead to disappointments later down the line if those agreements are broken or ignored altogether especially in highly competitive industries such as cryptocurrencies where there’s always plenty of opportunities available at all times making it easier than ever before now more than ever before today more than yesterday yesterday more than tomorrow tomorrow more than never never less than always!