TON Foundation Airdrops 300,000 Toncoin to Meme Coin Traders

The $2.19 million airdrop targeted traders who traded meme coins between March 4 and April 10, requiring points for qualification.

The Open Network’s TON Foundation distributed 300,000 Toncoin to active meme coin traders on the DeDust and Ston.fi platforms.

3/ 📊 Points system:

More trades = more points
More swaps = more points
More variety of whitelisted tokens = more points
Higher balance of whitelisted tokens = more points

Your total points gave you a final score, which determined your slice of the airdrop pie! 🍰
— TON 💎 (@ton_blockchain) April 11, 2024

The airdrop, valued at around $2.19 million, targeted traders who engaged in transactions between March 4 and April 10. Participants had to trade specific meme coins and accumulate points to qualify for the reward.

The distribution offered 90 free tokens per eligible wallet, excluding Sybil addresses to ensure fairness. Prior to the announcement, Toncoin reached a new all-time high, surging over 14% to $7.65 per token. However, after the news, TON’s price dipped by 5% to $7.22.

This initiative aims to promote meme coin trading and investment on TON’s blockchain, riding the wave of meme coin popularity. Platforms like Solana saw meme tokens like Dogwifhat (WIF) and Book of Meme (BOME) skyrocket, rewarding early adopters with significant returns.

The airdrop signifies TON’s commitment to engaging meme coin enthusiasts and leveraging the growing interest in blockchain-based meme tokens.

Also Read: TON Adopts Chainlink CCIP and Data Streams for DeFi expansion

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