Generally, DeFi projects are known for airdropping tokens to it’s users as a token of gratitude for believing in the project and bootstrapping it. They are also a popular manner of popularizing further usage of the protocol. But until 12 Feb, there never had been any airdrop sent to people who haven’t used the protocol. Enter 1inch.exchange.
1inch Second Airdrop Event
1inch already ran it’s retroactive airdrop rewarding users in Dec ’20. However, this time, it ran a second distribution round, sending 3.57M tokens to 1,308 participants for liquidity mining, 4.8M tokens to 9,094 users of Mooniswap, 310K to users trying out the limit order and lastly 375K to Argent, Authereum, Gnosis and Pillar wallets, who used 1inch services but behind an interface.
But lastly, the airdrop did something unique too. It sent tokens to Uniswap users, who have never had 1inch services before and therefore couldn’t qualify for the first 1inch airdrop. The criteria mentioned was unique. To qualify, a user must have had atleast 20 unique trading days and at least 3 trades made in the current year.
Congratulations, if you qualified for the airdrop this time. To check, click the link right above for instructions on how to check if your wallet was eligible. You might want to disconnect/reconnect your wallet a few times for the interface gets stuck sometimes. The standard tokens being sent are 159-182 1INCH, which are roughly a thousand US dollars at current prices and might appreciate more in the future! It’s essentially free money for never using 1inch services!
Why Airdrop Tokens To Non-Users?
1inch is introducing a unique concept, sending monetary gifts or bribe to your competitor’s users to entice them to try out your products and stick with it, in case they like it. They are essentially paying a lot of money, just to get their services used. This sets up an interesting precedent for users, who now have the added benefits of receiving tokens for not using a service before, amidst heightened competition amongst protocols to increase adoption and usage.