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1inch Will Airdrop 10M Tokens to DeFi Users in Order to “Refund” Gas Costs

As part of a gas cost refund program, 1inch has plans to airdrop 10 million 1INCH tokens to DeFi users.

The company is a “decentralized exchange aggregator,” which means that it divides its users’ crypto deposits among various exchanges in an effort to reach the best rates.

According to 1inch, any user that is staking via its app will receive a refund for the gas amount spent in 1INCH tokens at the beginning of every month. The refunds will start at the end of this month and go through next month with staking taking place on September 1st.

It is well-known that Ethereum has problems with the high gas prices and the governance forum of 1inch Network works on solving this.

Users who stake 100 1INCH tokens will enjoy a gas refund of 25%, 1,000 1INCH will offer users a 50% gas refund, while 10,000 1INCH users are planned to get a 75% gas refund. Users who stake 100,000 1INCH will get a 100% gas refund.

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