On Christmas, the native token of 1inch was airdropped

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Key Takeaways

  • 1inch has launched its native coin, airdropping qualified consumers with 1INCH. 
  • The token will be used by a DAO to monitor all 1 inch network protocols. 
  • The token’s cumulative availability is 1.5 billion.

A major DEX aggregation site, 1inch Exchange, has launched its in-house token, which can both have been used as a management token and as a functionality token. The system, called 1inch (1INCH), has deployed tokens for qualifying consumers. 

Tokenomics of 1Inch 

The tokens were earned from wallets that engaged in the protocol before Dec. 24 if they meet any of the following conditions: conduct a transaction before Sept.15, performed a total of at least 4 transactions, or made transactions amounting to at least $20. 

1inch.exchange airdrop miễn phí token 1INCH cho người dùng, giá tăng vọt  hơn 1000% sau khi niêm yết Binance

A dashboard that monitors the operation of the 1INCH token was developed by Twitter user Boxer. 26,174 wallets had stated 67,172,592 tokens at time of writing, priced at ~$120 million. 

The 1INCH token would be used by the 1-inch Decentralized Autonomous Organization (DAO) to manage the network. To overcome the long and arduous governance process that other DeFi protocols encounter, the group has introduced a new functionality named immediate governance.

The overall availability of tokens is 1.5 billion. 6 percent of the overall supply has been already published, with yet another 0.5 percent provided during the liquidity mining program in the upcoiming 2 weeks.  The 1-inch Liquidity Protocol, formerly called Mooniswap, will make the software usable. 

In the coming four years, 30 percent of the overall stock was devoted to community incentives and dispersed. In the next four years, 14.5 percent of the overall stock will be unlocked. Investments will be used in the event of an emergency to offer funding, recruit programmers, perform financial assessments, and reimburse consumers.

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