On Christmas solar day, decentralized exchange aggregator service 1inch has released its governance and utility token. As part of the launch, the platform airdropped xc million 1INCH tokens to users who had previously traded on the exchange.

According to data from on-chain analytics provider Dune, the highest recipient of the free token distribution received 9,749,686.003 tokens that were worth about $27.5 meg at the meridian cost of $two.8 per token.

An examination of the address with the largest initial claim shows significant yield farming activity with a lot of lending and loan collateral supply transactions. The address also has been active on automatic marketplace maker (AMM) platforms like Uniswap and SushiSwap.

In total, over 55,200 addresses are eligible to merits the gratuitous 1INCH tokens with more than half of the coins already claimed according to Dune. The average token sum across these addresses was nearly 1,629 tokens with qualified addresses bodacious of at least 600 tokens.

To qualify for the airdrop, a trader must take completed a transaction on the platform before Sept. 15. Users who executed iv trades in total or transactions valued at to the lowest degree $20 before Dec. 24 are as well eligible to merits the free tokens.

1INCH was upwardly past 16% in simply 24 hours with a trading price reaching $2.nine but has since dropped off to around $2. The airdrop upshot is coming on the heels of the projection successfully raising $12 one thousand thousand in a Pantera Capital-backed funding round before in Dec.