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1inch Exchange airdrops 1INCH tokens worth $84 million - Bitcoin World


bitcoinworld.co.in 13 February 2021 07:34, UTC
Reading time: ~2 m

DEX aggregator, the 1inch exchange airdrops a new stash of its 1INCH tokens. The airdrop follows the new tokens’ initial generation on Christmas, distributed to former users of the aggregator platform. A general point of discussion for the initial airdrop was excluding Mooniswap users and liquidity providers, as an integrated 1inch Liquidity Protocol replaced the project’s AMM platform. The latest airdrop will allocate 6 million 1INCH tokens to Uniswap users and $9 million to its community. 

At today’s prices, the airdrop is worth about $84 million. Moreover, the 1inch exchange has determined to issue above 15 million tokens to celebrate the Chinese New Year. The team behind the decentralized exchange aggregator declared the airdrop in a blog post earlier today. 15,055,000 1INCH tokens will be given to DeFi users matching several criteria, appending to the early airdrop 1inch ran on Christmas Day in 2020. 

Comprehensive details regarding 1inch Airdrop and eligibility criteria

1inch allocates maximum tokens for 1inch users who missed out on the first token drop. Some tokens went to liquidity providers on 1inch pools, and other to Mooniswap users. There was also a minor part of allocation for Argent, Gnosis, Authereum, and Pillar wallets with transaction layers and limit order users. The eligibility criteria for this airdrop continues the same. The qualification factor involves wallets for the airdrop must have associated with the protocol before Dec. 24, 202. They must have exercised a trade before Sep. 15, 2020, and must have completed four or more transactions or traded over $20. 

However, the most exciting component of the airdrop is allocating six million tokens for wallets that have never employed 1inch or Mooniswap. Additionally, to obtain the airdrop, the traders must have associated with Uniswap in at least 20 separate days and have executed over three trades in 2021. Furthermore, the wallets must not have association with both 1inch and Mooniswap in the past. Sergej Kunz, a 1inch co-founder, and CEO implied that this decision drew new users to the protocol. The airdrop seems to attract active Uniswap traders to seek 1inch, the spokesperson said. These users must connect their wallets to the protocol to receive the airdrop, familiarizing them with the interface.

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