I believe many friends have received a generous "Christmas gift" this Christmas:
1inch, a decentralized transaction aggregator, officially released governance and utility Token 1inch, of which 6% of the total issuance on the same day, plus 0.5% of the liquidity mining plan (97.5 million in total), were sent to 1inch in the form of airdrop Old users.
There are a total of more than 55,200 addresses that are eligible to receive free 1inch Tokens. The average number of tokens obtained by these addresses is about 1,629. Qualified addresses can guarantee at least 600 1inch Tokens.
01 The
sincere "Rain and Dew"
Reward Practitioners this year
Calculated based on the average price of 1inch on the day it went online (about US$2), it is equivalent to a total of US$200 million in "Christmas red envelopes" distributed by 1inch to users. On average, each user is about US$1,300, which is equivalent to receiving a MAC and UNI. The "iPhone 12 Airdrop" is comparable.
According to the official Token distribution rules, the total amount of 1inch.exchange Token is 1.5 billion 1inch, and the conditions for receiving the 1inch of the airdrop part are actually full of sincerity. Basically, old users who have used the product can get wet and dew.
All wallets that have interacted with 1inch before 24:00 on December 24 (UTC) will receive 1inch airdrop tokens as long as one of the following conditions is met:
Conduct at least 1 transaction between September 15 and December 24;
Completed more than 4 transactions in total;
Using 1inch, the transaction amount is more than 20 USD.
This year's airdrop welfare, which is as generous as 1inch and covered in rain and dew, is constantly stirring everyone's nerves:
Uniswap (UNI) gave an iPhone 12
Meme (MEME) gave me a suite
Tokenlon (LON) gave a luxurious dinner
The Graph (GRT) curator event gives away a suite
It now appears that this year's UNI, LON, and 1inch are rewards for participants who have a keen sense of smell and are willing to try new things. They are also a large amount of income in addition to the unique hoarding transaction in the circle this year.
Therefore, for us, we usually practice DeFi products more, not only to meet our own needs, but also to inadvertently plant the grass snake gray line of unexpected happiness in the future.
02What
is an aggregator?
There are also many friends who don’t know much about 1inch. It is a DEX aggregator on the Ethereum network. It can help with the circulation of other DEX protocols such as Airswap, Uniswap, Uniswap2, Kyber, Curve, Oasis, 0x, dForce Swap, etc. Users find the best trading path (low slippage, low latency).
So what is a DEX aggregator? It is mainly for users of large capital, collecting and finding the optimal transaction path from various liquidity providers in the market (each DEX) to reduce the user's comprehensive transaction cost.
For example, we have 10,000 ETH that needs to be exchanged for DAI. Because of the large amount of this transaction, if it is exchanged directly on a single Uniswap, Sushiswap and other DEX, the slippage may be very high, and the overall cost of completing the transaction will be very unfriendly. Then 1inch aggregators can come in handy at this time:
Through the 1inch aggregator, this large order can be divided into N small orders, and the best price transactions can be found in different DEXs, so that the overall transaction slippage is reduced, and it is also a one-click aggregation. Avoid manual and tedious operations.
Therefore, this is more important for transactions with a large amount of funds . After all, every one percent or one thousandth of the slippage cost saved may be a large amount.
When trading with 1inch aggregators, if the amount of funds is large, the extra GAS cost of finding the best transaction price in different DEX batches can be fully compensated by the low transaction slippage.
However, because of this, the small amount of money exchange for ordinary users is to achieve a more cost advantage on a single DEX such as Uniswap or Sushiswap. Many people basically have no chance with 1inch. Simply use the "Token Exchange" interface provided by DeBank for simple comparison. You can also verify:
Taking the exchange amount of 1ETH as an example, the comprehensive transaction cost of 1inch is as high as US$31.26, which is more than several times the transaction cost of a single DEX such as Uniswap, Sushiswap, and Bancor in the same period.
Therefore, a transaction aggregator like 1inch is a rigid demand track with tangible value in the context of the continuous expansion of DeFi, especially in the context of strong transaction demand.
Still taking 1inch as an example, the daily trading volume on November 26 exceeded 110 million US dollars. As of the day of the airdrop, 1inch.exchange took 18 months to hand over a light with a cumulative turnover of more than 7.5 billion U.S. dollars, 57,000 cumulative users, more than 5,000 daily users, and savings of up to 2.2 million U.S. dollars in gas fees for users. Eye transcript.
In addition to 1inch, the current trading aggregator track is also thriving: Matcha, Meta Mask wallets have built-in Meta Mask Swap, ParaSwap, Insta Dapp, etc.
In particular, traffic portals with inherent advantages like the Little Fox Wallet will undoubtedly help the popularization and promotion of subsequent aggregators with the built-in transaction aggregation function.
03
DeFi world is a paradise for innovators and technical talents
As mentioned in the previous " Trading platform spoiler "Father of Uniswap", "Unemployed youth" who can't program, the pinnacle is the pinnacle "-Uniswap is now in full swing.
The contract was officially deployed on November 2, 2018. Not only was it born less than two years ago, its founder, Hayden Adams, is also an out-and-out "half way out of the world" Ethereum developer."
The same is true for 1inch. In June 2019, Sergej Kunz and Anton Bukov announced the creation of 1inch.exchange on ETH Global NYC. Since then, the two founders have led 1inch from scratch and from small to large in just 18 months.
Until August of this year, it received $2.8 million in financing led by Binance Labs and Galaxy Digital, and its online valuation is now hundreds of millions of dollars.
DeFi world seems to be a witness Steve Jobs's "minimalist" --Uniswap is initially in just a few lines of code to open the Origin of AMM type of DEX, DeFi has thus stirred the world of a pond, the follow-up as AC 's Such geeks are also almost single-handedly, carrying most of the innovation in the DeFi circle.
Looking at the review now, the head DeFi project basically shows us a mature DeFi example: it is a grassroots team of technical talents, with a thick accumulation in the early stage, and a thin hair in the later stage, and the speed of development is extremely fast. .
However, the latest community members broke the news that the 1inch team “withheld” the handling fee without public disclosure, and in this airdrop, a large number of 1inch Tokens were airdropped to addresses related to their own interests, which may also explain some of the current paradigm. problem:
DeFi has given many geeks a wild imagination and created a utopian world that can be used freely. At present, everyone’s desire for DeFi innovation has temporarily overwhelmed the private morality of the founding team, so the whole is still an ideal without supervision. State of ism.
04
Summary
In general, 2020 is undoubtedly a turning point for the blockchain and encryption industry. Everyone has the honor to witness the Cambrian explosion in the DeFi world and the infinite possibilities opened up for the next stage of the industry, especially UNI, 1inch, LON and other UBI practical airdrops take root.
DeFi has already become a 7*24 hours non-stop stage, what kind of exciting shows will be staged next, let us wait and see.
Have you received a generous gift? What do you think about this phenomenon? Welcome to write down your opinion in the message area. The editor will put two excellent messages on top, each donating a book "Hello, Blockchain!" "One.
A book is an introduction to near-future technology, 99 entries to interpret the concept and technology of blockchain.
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——End——
"Disclaimer: This article is the author's independent point of view, and does not represent the vernacular blockchain position. This content is only for the popular science learning and exchanges of encryption enthusiasts, and does not constitute investment opinions or suggestions. Please treat it rationally, establish a correct concept, and increase risk awareness. The copyright of the article and the final interpretation right belong to the vernacular blockchain. 』
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