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A DeFi Trader makes it Big from 1 inch’s Christmas Airdrop

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Dec 25, 2020

What could be the best day than Christmas for launching a new crypto-token? One of the exchange aggregators that is based on a decentralized platform did just that and surprised the entire DeFi space. The decentralized exchange aggregator known as ‘1Inch’ just announced its utility and governance token on the Christmas Day.

To promote the launch of its new token, the aggregator airdropped around 90 million 1INCH tokens for the crypto-users. It confirmed that the airdrop was carried out for the users who have already been part of the exchange.

Later on, one of the on-chain analytical firms shared the stats of user who was able to collect the highest amount of 1INCH tokens. The source revealed that the user managed to gather 9,749,686.003 1INCH tokens from the airdrop distribution. At the time of publishing, the enormous amount of tokens translates to $27.5 million.

The on-chain analytical firm ‘Dune’ informed that the 1INCH token’s peak price was $2.8 per token at the time of the launch.

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Dune also shared their findings on the address that managed to collect the highest number of tokens from the distribution. The address that collected the highest tokens is actively involved in yield farming activities. In addition to this, the address is known for carrying out a lot of loaning and lending transactions on the platform.

It was also confirmed that the particular address has been active on SushiSwap and Uniswap that are known as an automated market maker (AMM).

Apart from the above address, Dune revealed that there are more than 55,000 addresses that are eligible for receiving the 1INCH tokens from the airdrop. It has been confirmed that so far, more than half of the 1INCH tokens have already been claimed by several addresses.

Dune also shared the average number of tokens each address is eligible to claim against the 1INCH airdrop. The average number of tokens that each address can claim from the entire list of addresses is 1,629 tokens. In addition to this, the addresses that were qualified for the tokens were assured that they would receive at least 600 1INCH tokens.

The criteria for the eligibility of claiming the 1INCH tokens have already been revealed by the 1inch aggregator. The criteria state that in order to be eligible for the airdrop claim, the user must have made a transaction through the platform. The firm also revealed that the transaction must have been processed before September 15, 2020.

For users, there is another way to participate in the airdrop, which is that the user must have processed at least 4 transactions valued at $20 or more or executed at least 4 trades. If a user manages to meet either of the criteria, then he/she will be eligible for the airdrop.

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