The central theses
- Users must have interacted with the log at any time between launch and March 8th.
- The OOE token is used for governance, but also for gas fees / slippage subsidies.
- For those who missed it, a liquidity reduction program will be launched after the drop.
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OpenOcean has announced that it will distribute 1% of its total offering to early adopters of the protocol, which equates to 10 million OOE tokens.
OpenOcean Airdrop announced
OpenOcean aggregates trading pairs across both centralized and decentralized exchanges. While users can take advantage of the exchange on the Ethereum blockchain, it gained popularity by offering its services on the Binance Smart Chain by becoming the first DEX aggregator there.
Since then has been 1 inch announced They offered their services on Binance Smart Chain and brought OpenOcean competition.
OpenOcean’s Airdrop will help solidify their user base by distributing rewards to early adopters and encouraging users to lock their funds with a liquidity mining campaign. The Liquidity Mining campaign will combine these OOE tokens with ETH, USDT, DAI, BNB or BUSD in subsidized liquidity pools.
While the air drop accounts for 1% of the total amount of tokens, this liquidity reduction campaign will distribute 34% of the total supply over the next five years.
To qualify for the Airdrop, addresses must have successfully completed either four transactions or only one transaction valued at more than $ 40. These transactions must have taken place between the start of OpenOcean and March 8th. Users who meet these criteria can request their tokens from OpenOcean website.
OpenOcean has also announced that it will cancel the airdrop for any address suspected of deliberately creating bulk wallet addresses in order to abuse the airdrop.
These OOE tokens will be the governance token for OpenOcean and subsidy gas fees and slides.
Additionally, this may not be the only OOE air drop. The OpenOcean team pointed in theirs announcement that there might be more to come:
“Don’t worry, if you missed the first round airdrop, you might still have a chance to make the second round. Dip your toes in the OpenOcean, start trading your favorite DEX or CEX, and keep an eye on our Twitter and Twitter social media for updates! ”
Disclaimer: The author owned ETH and several other cryptocurrencies at the time of writing.
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