Balance CEO Ric Burton claimed he was betrayed by Uniswap founder Hayden Adams, who, at one point, he considered one of his “close friends.”
Burton had invested time, friendship, and an unspecified amount of money to help Adams bring Uniswap to market. But Burton said he is heartbroken and sad that his efforts were never rewarded.
Burton helps get Uniswap off the ground
It started in New York in the spring of 2018 with Burton looking for dApp developers. This involved hosting events and giving up-and-coming developers time, money, and studio space.
He said that of all the developers he encountered, Adams and his unwavering enthusiasm for Uniswap stood out among the many applicants.
“I was on an absolute war footing. Every time you met him, all he could talk about was Uniswap.“
United by the goal of making “Ethereum magical for people,” the pair quickly grew closer, supporting each other in their respective struggles to achieve it.
“We were there for each other through the ups and downs of trying to build startups in an ecosystem with very few strong projects.“
Burton said that he believed in Adams and his AMM DEX concept focused on simplicity and did not think to grant him unlimited access to the studio. When Adams ran out of money, Burton paid the rent and even used Balance’s money to cover his expenses.
Realizing the potential of the protocol, the Ethereum Foundation soon knocked on the door, marking a significant turning point. With crypto investment firm Paradigm also on board, the future looked bright.
Adams goes AWOL
Adams told Burton that he intended to include him in the Uniswap round as payment for his help. Burton trusted that Adams would keep his word.
Time passed, and in March 2019, Burton faced personal difficulties, including the loss of his grandmother. Without revealing the finer details, he said the other co-founder also asked him to leave Balance.
“Suffice it to say that things were not going well at Balance.
Things were going VERY well on Uniswap.
Hayden raised just over a million dollars.”
Burton later discovered that Paradigm was not interested in including him in the round, which he attributed to his difficulties in Balance.
“They were not at all interested in having a failed founder on the cap table of their new unicorn.“
During this time, Burton said Adams ignored his messages and went AWOL. But he re-established contact when the UNI token was being prepared for launch. It was then that Adams made an offer to pay Burton.
However the offer He came on the condition that he never discuss the facts and circumstances of their relationship in public. Burton commented: “This was one of the most offensive contracts I’ve ever seen.”
Fast forward to now, some four years later, Burton recounts this story, saying that sadness had prevented him from going public earlier.
Closing the thread of the tweet, Burton confirmed that he instigated legal action to recover the money owed. But at the same time, he expressed uncertainty about himself and this course of action by asking the Twitterverse if they think he doesn’t deserve to receive anything.
“My goal with this thread is simple: gauge community sentiment about my contribution.“
CryptoSlate contacted Burton for further comment. No response received at time of publication.
This post Balance CEO Alleges Treason at the Hands of Uniswap Founder
was published first on https://cryptoslate.com/balance-ceo-alleges-betrayal-at-hands-of-uniswap-founder/
