I sold mine right away. The price was about $3.50. Sure it went up to $8.50, but I cant predict the future. It could have just as easily crashed from everyone selling. It ended up giving me ~.12 btc which was completely free so im not gonna complain. I put it on my ledger and it was a nice addition to my long term bitcoin stash. $UNI derives its value from its utility which is governing Uniswap, the biggest crypto exchange in existence currently. So they didnt really print money out of thin air. They sold and gave away portions of rights to govern the protocol. That is an exchange of value. But, people should heed the fact that Uniswap has no economic moat (warren buffet term look it yp). Anyone can come in and do what its doing, maybe even better, and immediately steal tons of market share. It already happened for a brief period with sushiswap.
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What cryptocurrencies do you think have an economic moat?
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ethereum, bitcoin, hive, ripple, BAT, BNB, stuff like that, and each for their own reason.