Over the past 12 months, five major projects have distributed hundreds of millions of dollars worth of digital assets among their users. One of them did it by mistake
On November 15, the decentralized ParaSwap exchange issued its own PSP token and distributed 7.5% of its issue among 20 thousand first users of the trading platform. The total altcoin offer is 2 billion. The first users of the site received coins worth about $ 270 million (an average of $ 13.5 thousand for each). Over the past year, several more projects have distributed cryptocurrency for free.
At the end of September, the DeFi-protocol Compound paid 280 thousand COMP tokens worth more than $80 million to borrowers and liquidity providers for free. However, this happened as a result of an error when updating the smart contract, which is responsible for the distribution of funds. The error led to the fact that the contract increased the amount of funds that were paid to users.
One of the users withdrew COMP tokens for $27 million (at the exchange rate at the end of September). On November 15, the value of these tokens is $31.9 million.
In August, the decentralized crypto exchange dYdX issued its own token and distributed 50% of the issued digital coins to the user of the trading platform. 7.5% of the issued tokens (75 million) were received by users who made at least one transaction on dYdX before July 26, provided that they conducted at least one transaction on the exchange in August.
In early September, the listing of the dYdX token was carried out by the trading platforms MEXC Global, OKEx, Gate.io, Poloniex, Huobi, Uniswap and Sushiswap. After the start of trading, the price of dYdX instantly increased by more than 1100% and exceeded $ 30. On November 15, the token is trading at $14.6, and its capitalization is $909 million, according to CoinGecko.
On February 25, the decentralized exchange ZKSwap distributed 80 million of its own ZKS tokens to its users. Coins in a 1:1 ratio were received by all users who hold ZKS on exchanges, wallets, on the ZKSwap network or on the ZKSwap Proof-of-betting contract.
At the time of distribution, the value of ZKS tokens reached a historical maximum at $11.2. After that, the price of the cryptocurrency began to decline. On November 15, the token is trading at $0.75 (a decrease of 93% from the maximum).
At the end of December last year, the decentralized exchange 1inch issued its token and distributed coins to users. The right to collect the reward in cryptocurrency was granted to traders who fulfilled one of the following conditions:
made at least one transaction before September 15, 2020;
have made at least four transactions;
made transactions totaling at least $20.
The exact amount of airdrop for each user in 1inch was not named. But it probably amounts to 600 tokens. This is the minimum number of coins that traders withdrew from the wallet from which the cryptocurrency was distributed. At the time of distribution, the cost of 600 1inch tokens was approximately $1.5 thousand on November 15, this amount is $2.55 thousand (taking into account the current 1inch rate of $4.25).
At the end of October, the price of the 1inch token set a historical maximum at $8,6. Then the value of the tokens received during the free distribution increased to $ 5,1 thousand.