Wrong! UNI was airdropped for free to all previous users of uniswap! No one lost anything. And in any trade, both sides have a coincidence of wants, so no one “loses”.

That’s probably the argument that the Wolf of Wall Street used to defend his boiler room schemes. “The penny stock company issued 100M new shares for free, no one lost anything, we sold them to people who had a coincidence of wants.”

All markets have losers - another trope from the uninformed left. Markets allow people to satisfy their needs in a voluntary way.

Only with perfect information, and even then markets are NP-complete.

https://arxiv.org/pdf/1002.2284.pdf