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TON Foundation distributed 300,000 Toncoin to active meme coin traders.
The Open Network project airdropped Toncoins (TON) worth around $2.19 million to the most active meme coin traders on DeDust and Ston.fi platforms.
Meme coin traders who made transactions on DeDust and Ston.fi between March 4 and April 10 were eligible for the airdrop. Users also had to trade whitelisted meme coins on the network to amass points, a fast-rising reward system.
4/ Trading volume points breakdown:
— TON 💎 (@ton_blockchain) April 11, 2024
– <$2,700: 0 points
– $2,700-$4,999: 1 point
– $5,000-$9,999: 2 points
– $10,000-$24,999: 3 points
– >$24,999: 4 points
According to the team, participants could earn 90 free tokens per wallet, but Sybil addresses were disqualified from the snapshot, and zero coins were received.
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Before the airdrop announcement, Toncoin broke its all-time high (ATH) yet again as its price increased over 14% in 24 hours, reaching $7.65 per token. However, following the news, TON retraced 5%, falling to $7.22.
The announcement is positioned to meme coin trading and investing on TON’s blockchain, following a meme frenzy that turned some users into overnight crypto millionaires. On Solana blockchain, tokens such as Dogwifhat (WIF) and Book of Meme (BOME) amassed billions in market cap, rewarding early supporters and buyers with multi-fold increases in their initial capital.
Read more: Telegram rolls out TON-based revenue sharing system