UET (full name: Useless Ethereum Token) is a standard ERC20 token that users can trade and hold. Users actually give money to someone on the network and get completely useless tokens in return. UET is real, has 100% transparency, and cannot bring value to investors, so there will be no profit expectations. No yield means few investors, few investors means few transactions, few transactions means no ethereum network lag, and no frustrating posts about people losing all their savings .

Project Founder

Useless Ethereum Token has not announced the founder or founding team. TVB tried to find clues to the founder from the contributors of the source code, but ultimately failed. Found the open source source address of Useless Ethereum Token: https://github.com/uetoken/uetoken.github.io

Useless Ethereum Token looks like a joke, but Useless Ethereum Token still raised funds. Although its current total market value is less than 58,000 US dollars, its highest total market value has reached 681,574 US dollars.

It seems that Useless Ethereum Token is an interesting project initiated by programmers.

Project contribution

Each block has a 1 in 256 chance of issuing reward tokens.
When purchasing UET, the smart contract will obtain the hash value of the currency, number and timestamp of the current block. If the first byte of the hash is 0x00, the block becomes a reward block. During the reward block, the smart contract calculates the number of bits set in the second byte of the hash and uses this number as a reward multiplier.
In addition to the basic distribution, each purchase of UET of at least 0.01 ETH will receive an additional 100 UET multiplied by the bonus multiplier for each ETH in addition to the basic distribution. This means contributors have the chance to earn nine times their desired total tokens!