On Friday, decentralized exchange aggregator 1inch distributed its governance token through a massive airdrop, with the largest recipient—a DeFi trader—receiving tokens worth approximately $20 million.
Key Details of the 1inch Token Distribution
As part of its governance token launch, 1inch airdropped 90 million tokens to users who previously traded on its platform. According to Dune Analytics:
- Top recipient: 9,749,686 tokens (~$20M at $2/token)
- Eligible addresses: 55,200+
- Average allocation: 1,629 tokens per address
- Minimum guarantee: 600 tokens per qualified wallet
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Qualification Criteria
To be eligible, users had to:
- Complete at least 1 trade on 1inch before September 15, or
- Execute 4+ trades (or $20+ volume) by December 24
Market Response and Trader Behavior
The 1inch token initially surged 16% to $2.90 post-airdrop before stabilizing around $2.00. Chain analysis reveals the top recipient actively participated in:
- Liquidity mining
- Lending/borrowing protocols
- AMM platforms (Uniswap, SushiSwap)
Project Background
1inch recently raised $12 million in a Pantera Capital-led funding round (December 2024). Over 50% of airdropped tokens were claimed within 24 hours of distribution.
FAQ: 1inch Token Airdrop Explained
Q: How were airdrop amounts determined?
A: Allocations scaled with platform usage—higher trading volume/activity yielded larger rewards.
Q: Can I still qualify for this airdrop?
A: No, the snapshot period has ended. Future distributions may occur.
Q: What's the purpose of 1inch tokens?
A: Primarily governance voting, with potential fee-sharing mechanisms.
Q: Why did the token price fluctuate post-airdrop?
A: Typical sell pressure from recipients taking profits, balanced by new buyers entering.
Q: How does this compare to other DeFi airdrops?
A: This ranks among the most valuable single-recipient allocations in DeFi history.
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Note: All trading involves risk. This content is for informational purposes only.