1inch, who was just regarded as a big money owner, quickly came out. On the morning of December 29, in the Telegram group, some netizens questioned the DeFi aggregation agreement 1inch. The exchange team took a fee from the transaction fee and suspected that it gave its own address. Issue airdrop tokens. There are also users posting related news on Weibo.
1inch was caught by the community stealing the transaction fee from the transaction fee, and airdropped himself to bury the rat warehouse. This incident is in sharp contrast to the 1INCH tokens airdropped at Christmas time. The previous calls and admiration are in sharp contrast with today’s black material.
Regarding this matter, 1inch co-founder and CEO Sergej Kunz replied: “The commission from the transaction is to maintain the server work. 1inch servers are very expensive, about 100 servers, each with 64 CPU cores and 128GB RAM, while 1inch There are 33 people to continuously improve the definition and development.”
In addition, regarding the “rat warehouse airdrop”, it is because 1inch must test governance in production to avoid problems. The wallet did some interaction at 1inch. Therefore, the 1inch address obtained 363,000 1INCH tokens, also because of forgetting to exclude the wallet address from the airdrop list.
Affected by this incident, 1INCH, which was originally a token drop, continued to fall today, and the intraday drop exceeded 17.13%.
Regarding this time’s news and the co-founder’s response, most users did not buy it. Many users believed that a lot of the team’s expenditure was used through investment funds. If you get a service fee to support the server, where does the investor’s money go?
Some users are more strict in terms. During the 1INCH airdrop, they also said that the 1INCH airdrop is not sufficiently dispersed, and there are many large airdrops. According to data from Dune Analytics, a DeFi trader has won the 1INCH airdrop. 9749686.003 tokens, based on the price of 2.8 US dollars, the total value of the tokens obtained is about 27.5 million US dollars, accounting for about 11% of the 1INCH supply.
Through short positions, in about 20 hours, there are about 8041 addresses holding 1INCH. According to statistics, the average number of addresses interacting with 1inch in a single day this year is about 485, and the peak value of interactive addresses in a single day is about 1523. . The airdrop address is much higher than the previous interactive address, which also shows that the user’s previous transaction frequency is low.
So in terms of airdrops, 1INCH is still very successful, but it is easy to cause public outrage for handling fees and mouse warehouse operations. In 2020, 1inch received two financings.
On August 11, 1inch announced that it had received a financing of USD 2.8 million led by Binance Labs and Galaxy Digital. Other major investors include Greenfield One, Libertus Capital, Dragonfly Capital, FTX, IOSG, LAUNCHub Ventures, Divergence Ventures With Loi Luu, co-founder of Kyber Network.
On December 2, 1inch announced the completion of a USD 12 million Series A financing in the form of SAFT (simple agreement for future tokens, promising to deliver tokens at a certain date in the future). This round of financing was led by Pantera Capital, and other participating institutions include ParaFi Capital, Blockchain Capital, Nima Capital and Spartan Capital Security.
The December financing made it clear that this round of financing will be used for the expansion of the 1inch team (28 employees at this time) and the release of new products and agreements. Of course, it also includes 1inch’s governance token 1INCH.
From this point of view, 1inch really opened high and went low, and then the black material came out and was injured again. However, there are still users in the market questioning whether this is an opportunity to wash the market. The trend of tokens on decentralized exchanges seems to be the same. , The price is very aggressive and the trend is very psychedelic. In the end, it was handed over to the main market forces. After 1inch, there are still many challenges. After all, compared with Uniswap, there are still many differences and gaps.
