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Top Crypto Exchange 1inch Airdropping $84,000,000 to Crypto Traders


dailyhodl.com 13 February 2021 09:45, UTC
Reading time: ~2 m

Decentralized exchange aggregator 1inch is airdropping $84 million worth of 1INCH tokens to its own users and those who use competing exchange Uniswap.

The fourth-largest decentralized exchange (DEX) by volume is announcing that it is implementing another round of distribution of its native token.

Users who interacted with the 1inch DEX, formerly known as Mooniswap, before December 24th, 2020 are eligible for the distribution as long as they had one trade before September 15th, 2020, had four total trades, or had trades that amount to $20.

“3.57 million tokens were sent to 1,308 participants in the second liquidity mining program, 4.8 million to 9,094 users of Mooniswap, 310,000 to limit order users and 375,000 to Argent, Authereum, Gnosis and Pillar wallets with transaction relayers.”

In what appears to be an effort to woo crypto users who primarily use Uniswap, the 1inch Foundation is also distributing 1INCH tokens to those who used Uniswap under certain conditions.

“In addition, the 1inch Foundation distributed 6 million 1INCH tokens to Uniswap’s non-relayed traders who have never swapped tokens on 1inch nor on Mooniswap. This distribution is based on a list of Uniswap addresses, from which were excluded trading bots. The other condition for receiving 1INCH tokens is to have at least 20 unique trading days and at least 3 trades made in 2021.”

1inch CEO Sergej Kunz says the team hopes that the airdrop can showcase the DEX’s advantages over competing exchanges.

“We see substantial potential in expanding our community to users who haven’t used the 1inch DEX aggregator so far. We want to show them the advantages of our aggregator, which offers the best prices, protection from front-running and lucrative farming opportunities.”

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Featured Image: Shutterstock/GrandeDuc

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