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1inch offers new airdrops to select users

Photo of: Joseph Stone
by Joseph Stone

A new 1inch airdrop allows Mooniswap and Uniswap users to receive 1INCH tokens. What are the eligibility criteria?

The airdrop distributed 6 million 1INCH tokens to Uniswap users. To receive the airdrop, users had to interact with Uniswap for at least 20 different days and have performed at least 3 operations in 2021. In addition, wallets must not have interacted with 1inch or Mooniswap in the past.

According to a 1inch spokesperson, there are approximately 25,000 eligible addresses that entitle each user to 240 tokens or approximately $1,300 at current rates. To claim the airdrop, users must connect their wallet to DEX’s aggregator: 1inch.exchange.

In addition, the airdrop also targets Mooniswap exchange users. To receive 1INCH tokens, users had to interact with Mooniswap before December 24th. Approximately 4.8 million tokens were distributed to 9,094 Mooniswap users. This represents 527 1INCH tokens worth approximately $3,000 for each eligible portfolio.

Finally, 375,000 tokens were distributed to users of portfolios such as Argent, Authereum, Gnosis and Pillar.

Usually, airdrops are intended to initiate the life of a token to make it known. But the airdrop made by 1inch had a completely different purpose: to steal some Uniswap and Monniswap users.

This is a marketing campaign, said Sergej Kunz, co-founder of 1inch :

“We see significant potential in expanding our community to users who have not yet used our DEX aggregator. »

Vampire attacks are not a new concept. The decentralized SushiSwap exchange and its SUSHI token were created with the aim of vampirizing Uniswap by capturing its liquidity.

Here, the airdrop is targeting heavy DeFi users who have not yet tried 1inch. This has created some frustration amongst regular users of the 1inch protocol who have been asking why they haven’t been rewarded for their loyalty rather than those who don’t use it.

As far as strange airdrops go, this one can be explained but is sure to leave a sour taste to certain power-users of 1inch.