Crypto Beginner

DeFi aggregator’s airdrop bonanza for Optimism users

Optimism

1inch— a Defi-specific decentralized protocol aggregator—has recently announced backdated Optimism (OP) token airdrop for select wallet users. OP token airdrop will focus on those wallets which are on the Optimism Ethereum network and have used 1inch in any form as of 1 September 2022.

In mid-August 2021, 1inch’s DEX aggregation protocol announced moving to the Optimism Ethereum (OE) network to focus on better speed and affordable transactions. For perspective, the OP airdrop announcement is 1inch’s way of encouraging existing Optimism evangelists to use the 1inch DEX aggregator for swaps and transactions.

Why is this airdrop special?

With the Ethereum merge already upon us, Ethereum’s layer-2 scaling solutions such as Optimism are getting all the attention. And since a 1inch protocol was deployed on Optimism, there has been a massive surge in the former’s network activity, according to Sergej Kunz, co-founder at 1inch.

How will the airdrop work?

1inch plans to airdrop 300,000 tokens to all 1inch wallets on Optimism that have ever made a swap or participated in a genuine transaction. Malicious wallets meant for exploiting other addresses will be automatically excluded. Also, 1inch promises equal token distribution.

Currently, more than 45,000 wallets on Optimism have a 1inch association, as revealed by 1inch (the company) itself. What’s even more encouraging is that out of the 45,000, 28,600 wallets have set 1inch as a prior transaction network.

As for Optimism, it is a layer-2 Ethereum scaling solution with a 2,000 TPS peak transaction limit, which it expects to reach in time. 1inch’s Optimism connect isn’t the only time a DEX-based protocol has moved to this layer-2 mainnet. On 13 July 2021, a version of Uniswap’s v3 exchange also found its way to the OE network.

FAQs

What is the 1inch Airdrop Bonanza for Optimism Users?

The 1inch Airdrop Bonanza for Optimism Users is a program where 1inch, a decentralized exchange aggregator, distributes free tokens to users of the Optimism scaling solution, encouraging engagement and adoption.

Who is eligible to participate in this airdrop?

Users who have interacted with 1inch on the Optimism network, such as making trades or providing liquidity, are typically eligible to participate in the airdrop. Specific criteria may vary, so it’s best to refer to official announcements for exact eligibility details.

How do I participate in the airdrop?

To participate in the 1inch Airdrop Bonanza for Optimism Users, ensure you’ve used 1inch on the Optimism network for trades or liquidity provision. Keep an eye on official announcements for instructions on claiming your airdrop tokens.

What should I do if I have issues with claiming my airdrop?

If you encounter issues while claiming your airdrop, visit the official 1inch communication channels or website for support. They usually provide guidance or a contact option to help users with any problems during the claiming process.

Article Default Disclaimer

Share this:

IN THIS ARTICLE

Subscribe to our newsletter

Weekly crypto updates and insights delivered to your inbox.

Browse our Newsletter Archive for past editions.

SnowSnow

Thank you for subscribing!
Please verify your email to start receiving the latest issues from Switch in your Inbox.
Powered by

Build your crypto portfolio on the
CoinSwitch app today

Scan the QR code below or find us on Google Play
Store or Apple App Store.

Build your crypto portfolio on the
CoinSwitch app today

Scan the QR code below or find us on Google Play Store or Apple App Store.