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ad cnp.png Protocol Airdrops A New Stash Of Its 1INCH Tokens

The protocol is airdropping a new stash of its 1INCH tokens, as the airdrop follows the initial generation of the new tokens on Christmas, which was distributed to past users of the aggregator.

It has been reported that a common point of contention for the initial airdrop was the exclusion of Mooniswap users and liquidity providers, as the project’s AMM platform was superseded by an integrated 1inch Liquidity Protocol.

However, the new airdrop, which was already delivered at 5 PM UTC, retroactively distributes tokens to anyone who interacted with Mooniswap before December 24. About 4.8 million tokens will be distributed to 9,094 users of Mooniswap. This amounts to 527 1INCH worth about $3,000. Another 3.57 million tokens were given to 1,308 participants of an earlier liquidity mining program in November.

310,000 tokens were delivered to limit order users and another 375,000 to users of smart contract wallets like Argent, Authereum, Gnosis, and Pillar, as long they would have been eligible for the initial airdrop if they used normal wallets.

The report said that the project distributed 6 million 1INCH tokens to particularly active Uniswap traders. To receive the airdrop, the traders must have interacted with Uniswap in at least 20 separate days, and have done at least three trades in 2021.

The 1inch team is making another move against its rival as a new airdrop targets active Uniswap users who never used 1inch. Tokens worth up to $1,300 have been delivered to let them try out the platform. — Cointelegraph (@Cointelegraph) February 12, 2021

In addition, the wallets must not have interacted with either 1inch or Mooniswap in the past.

A 1inch spokesperson said that there are about 25,000 such addresses, entitling each to 240 tokens or $1,350.

It has been analyzed that the airdrop looks to entice active Uniswap traders to try 1inch. To claim the airdrop, these users must connect their wallet to the protocol, which should familiarize them with the interface.

Likewise, Uniswap is no stranger to other protocols trying to undermine it. SushiSwap was born as an attempt to steal Uniswap liquidity since its yield farming program specifically required using Uniswap pool tokens. The idea was that Uniswap liquidity providers would be automatically migrated to SushiSwap, though in the end most of the capital farming SUSHI was brought by outsiders, and the “vampire attack” ended up arguably strengthening Uniswap.

Thus, the UNI airdrop, which popularized the concept of rewarding past users for basic actions, was a response to SushiSwap’s unsuccessful attack. In an ironic twist of fate, Uniswap’s airdrop playbook is now being used against it by another competitor.

Source: Cointelegraph



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