A DeFi trader made $ 20 million from 1inch AirDrop!
On Christmas Day, decentralized stock market data aggregator service 1inch released its governance token. As part of the launch, the platform distributed 90 million 1inch tokens with airdrop to users who had previously traded on the exchange.
The person who benefited the most from free token distribution received 9,749,686,003 tokens, worth about $ 27.5 million, with the highest price of $ 2.8 per token, according to data from Dune, an on-chain analytics provider.
This address, where the initial request was made, shows a significant yield farming activity, where there are numerous lending and loan collateral supply transactions. The address is also active on automated market maker (AMM) platforms such as uniswap and SushiSwap.
In total, more than 55,200 addresses are eligible to claim free 1inch tokens. Tokens already in demand account for half of the supply, according to Dune Analytics. Although AirDrop-eligible addresses were guaranteed at least 600 tokens, the average amount received by eligible addresses was 1,629 tokens.
To qualify for AirDrop, a trader must have completed any transaction on the platform before September 15. Users who have made a total of four transactions or made at least $ 20 worth of transactions before December 24 can also request free tokens.
1INCH rose 16 percent in 24 hours, with a trading price of $ 2.9. But it has since fallen to about $ 2. The airdrop event comes just after the project successfully raised $ 12 million in a Pantera Capital-backed funding round in early December.
Listed at 1inch Binance