September has historically not been a good month for cryptocurrencies. But many altcoin projects are announcing big developments and news this September. One of them is 1inch Network, which is listed on the Binance exchange. According to recent announcements, 1INCH has announced that it is preparing to conduct a massive airdrop. Thus, he made his investors smile again.
DeFi altcoin on Binance announces massive airdrop
Cryptocurrency market is having a busy day. As Bitcoin struggles to hold onto the $20,000 support, DeFi altcoin project 1INCH on the Binance exchange has announced an airdrop. Accordingly, 1inch Network will distribute 300,000 Optimism (OP) exclusively to 1inch Wallet users. As Cryptokoin.com previously reported, Optimism Coin is an Ethereum layer-2 scaling solution.
According to 1inch’s announcement, investors using the OP network with 1inch Wallet will be entitled to benefit from the airdrop. These investors will expand their portfolios by obtaining OP coins through the airdrop completely free of charge. However, the announcement also includes that 300,000 tokens will be distributed equally to users who transact with 1inch Wallet within the Optimism Blockchain. However, it should be noted here that the wallets used in the Sybil hack attack will not be able to benefit from the airdrop.
1inch founder praises OP coin
1inch Founder Sergej Kunz shared a statement regarding the airdrop. Accordingly, the founder spoke highly of the Optimism project. He then said that with the upcoming Optimism airdrop, the adoption of both altcoin assets will increase. Kunz explained:
“Optimism is among the most popular and successful Ethereum-based Layer-2 altcoin projects. Since OP adoption started, there has been a significant increase in efficiency over 1inch. The new airdrop will take its place as an important incentive to use 1inch on the OP Blockchain.”
For those who don’t know, DeFi altcoin project 1INCH, listed on Binance, switched to the Optimism network a year ago. The project, which completed its transition in August 2021, has thus reduced its gas fees. It also provided users with faster access to DeFi services. According to data from the DeFi project, over 45,000 addresses have traded with 1INCH on Optimism since August 2021.
Optimism also airdropped
As important as it sounds, Optimism is actually a fairly new altcoin. Blockchain running as a layer-2 scaling solution on top of Ethereum held its OP airdrop in May 2022. At that time, the token saw a lot of hype in the cryptocurrency world. Following this, a price rally occurred in the OP price. Now 1INCH has rolled up its sleeves to distribute over 300,000 OPs. The airdrop will take place for 7 days. In addition, 234,000 of the 300,000 OP coins that 1INCH will distribute are already in circulation.
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