OpenOcean Outlines Criteria for Second $OOE Airdrop, Here’s How to Participate

The protocol will allocate 9 million tokens for its second round of airdrops to up to 120,000 eligible addresses.

By
Chung Yee
on
June 26, 2021
Category:
BSC News

Here Comes Round 2

OpenOcean has released the criteria for their second $OOE airdrop. In its round 2 airdrop exercise, a total of 9 million tokens will be distributed to addresses with at least 4 completed and valid transactions. Users with at least one transaction with total trading volume that is greater than or equal to 40 USDT via the OpenOcean platform are also eligible. The news was officially released by OpenOcean on June 24th.

Source

A total of 172,000 unique addresses qualified for the airdrop for both rounds. In round 1, 10 million $OOE tokens were airdropped based on the same criteria for transactions that occurred before March 9th. For round 2, the transaction period is between 4 P.M., March 8th till 12 A.M., June 24th, UTC.  

The airdrop represents 1.9% of the total supply of $OOE. 0.1% was taken out because in an earlier campaign the tokens were given to users on the UNTO and SafPal wallets in March.  


Eligibility to Claim the Airdrop

There are two main criteria for eligibility. First, users must have successfully traded via OpenOcean through any of the supported networks or wallets within the time frame. Second, the airdrop does not discriminate whether the address that interacted and transacted during the period of eligibility was previously eligible in Round 1. Hence, it is possible for the same address to receive airdrops for both rounds if it fulfills the conditions. 


Airdrops, Added Incentive to Participate

The crypto market develops at a rapid pace and to remain viable, platforms such as OpenOcean must engage with its community. Marketing and promotion allocation will always have a part in the token distribution. The tokens are then distributed as airdrops for users if they have supported the protocol through completed transactions. It is up to the team to decide on the terms of eligibility. 

There will be a cut-off date to capture the eligible users. In the past, airdrops from protocols such as Uniswap and 1Inch were instrumental to draw attention to potential users and to reward its existing users for using the protocol. 

September 1, 2020 - 400 $UNI were given to wallet addresses that transacted with the Uniswap protocol before the snapshot date 

December 24, 2020 - $1INCH tokens are given to wallet addresses that interacted with the exchange before the snapshot date 

Often touted as ‘free money’, airdrops are useful and effective in generating interest and hype for the project. Users that have transacted using the protocol will appreciate the features and functionalities of the protocol.


What is OpenOcean 

OpenOcean is a Decentralized Finance (DeFi) and Centralized Finance (CeFi) full aggregator protocol. The value offered by OpenOcean is the use of an intelligent routing algorithm to find the best price and lowest slippage at no additional fees. This aggregation service is spread across both centralized and decentralized platforms. It allows for cross chain transactions and has arbitrage tools to automatically capitalize on arbitrage opportunities. 

Source : OpenOpecan builds bridges that allow for cross-chain swaps

The vision by the project team is to allow for normal traders to have equal opportunities by leveling the playing field. It allows for optimization of costs and time. With numerous projects in its roadmap, the team has an ambitious plan to expand aggregation services to derivative, lending, yield, and insurance products. Other financial services that will be launched on the OpenOcean platform include combined margin products and intelligent wealth management services.  


Timely Boost for A Solid Project 

OpenOcean in the recent DeFi Summit of 2021 elaborated on its future plans. Taking their presentation into consideration, the path ahead looks promising. As long as interest in DeFi continues, optimization services will have its fair market share. The airdrop is a timely marketing effort for a value packed platform. 

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Chung Yee

Chung Yee has a legal background and has been involved in research works for the legal and compliance industry. Writing is his passion, centered on topics such as the blockchain and finance. His largest crypto holdings are Solana, Ethereum, and BNB Token.

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