World Liberty Financial (WLFI) opened claims for its tokens at 8:00 am ET on Labor Day, which created a surge in on-chain transactions and caused Ethereum gas prices to spike above 100 gwei. The rush to claim tokens coincided with upcoming major listings on centralized exchanges, notably OKX's WLFI/USDT pair. Despite prior warnings regarding the unlock, the volume on the Uniswap v3 WLFI pool exceeded $20 million in just the first hour. The event highlighted how large, coordinated claim activities can disrupt Ethereum's blockspace, resulting in gas fees that soared to over $100, compared to less than $0.10 earlier that morning. Post-event, while gas fees moderated, the network remained highly utilized, demonstrating the necessity for teams planning similar events to stagger claims and potentially employ off-chain batching to manage costs.

Source 🔗