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