The 1inch decentralized exchange aggregator has just launched its governance token and distributed 600 to certain users via an airdrop. Are you eligible for this massive airdrop worth over $ 1,500? What are the eligibility criteria and how do you get your tokens?
We explain the process to you
The users of the 1inch decentralized exchange aggregator have just received one hell of a Christmas present. The platform has just launched its governance token, the 1INCH .
This ERC 20 token gives its holders voting rights for the future of the protocol, in particular to propose modifications to fees, sponsorship rewards and those of governance.
To reward its early users, the 1inch platform has therefore distributed tokens to those who meet certain conditions. Each eligible wallet can thus receive 600 1INCH tokens , or the equivalent of 1600 dollars at the time of writing this article. We will explain this to you in more detail later.
Other 1INCH tokens will be distributed to users who provide liquidity for these 6 pools:
Over the next 2 weeks, an additional 0.5% of the total 1INCH token supply will be distributed to liquidity providers. Subsequent cash extraction programs will be determined by 1INCH holders and community members.
Similar to Uniswap a few months ago , 1inch CEO Sergej Kunz believes this new token will help accelerate the platform’s growth.
He adds in the official press release that around 50,000 wallets will receive the 6% of the outstanding supply of the 1INCH token during the first round of distribution. The current supply of the token is 1.5 billion units.
How to get your 1INCH tokens?
All wallets that interacted with 1inch before December 24th will receive 1INCH tokens, but only if they meet one of the following conditions:
have completed at least one transaction before September 15;
have completed 4 transactions in total, even after September 15;
have completed transactions for a total amount of at least $ 20.
If you meet any of these conditions, your wallet is eligible to receive 600 1INCH tokens , which is almost $ 1,600 at the time of writing these lines. The airdrop is obviously cumulative in the event that you have several wallets that have interacted with 1inch.
To claim your tokens, go to 1inch, connect your wallet to it then click on the platform logo at the top right:
Then click on the “ Check “ button to check if you are eligible for the airdrop. If this is the case, you can then click on the “ Claim ” button and receive your 1INCH tokens
Regarding exchange platforms, the 1INCH token is already available for trading on Binance , Huobi , FTX or OKEx . You can therefore send your 1INCH tokens to these exchanges if you wish to resell them.