Furucombo Set for First DeFi Airdrop of 2021
Decentralized Finance (DeFi) strategy optimizer Furucumbo is set to release its token with early adopters in line to receive free tokens. The free “coin” distribution event will be the first major DeFi airdrop of 2021.
Furucombo to Reward Early Adopters
In an announcement published on Monday (Jan. 4, 2021), Furucombo revealed plans to reward early adopters and other members of the community. The move comes as the “DeFi Lego builder” is set to float its own native token, COMBO, in mid-January.
According to Furucombo, the airdrop is a grant program for early contributors including donors, masters, and other community members. Donors refer to DeFi users who contributed funds to the project via the Gitcoin grant round or straight to the project’s deployer address. Such eligible participants will receive 350 COMBO coins.
Active participants on the Furucombo Discord page (Masters) will receive 6,000 COMBO tokens while winners of the ComboHacking campaign that took place back in Nov. 2020 will earn 1,500 COMBO. Platform users are also not left out as wallets with at least one completed transaction before the Dec. 23, 2020 snapshot will receive 350 COMBO. Also, users with two or more completed transactions will receive 900 COMBO tokens.
Detailing the claims process, Furucombo revealed that the grants will be vested over an eight-week period beginning from Jan. 15, adding:
“The design of vesting is to make sure that no more than 5% of the circulating supply is distributed each week. The claimable amount of COMBO will be updated to Furucombo’s contract every Friday.”
Furucombo is a drag and drop tool that allows users to optimize their DeFi strategies. The platform allows users to execute flash loans without needing to write a single line of code.
DeFi Users Gear up for Airdrops in 2021
The previous year saw different DeFi platforms airdrop tokens to its users. As reported by BTCManager in December, enterprise-grade, decentralized blockchain protocol IOST announced a planned airdrop of 88,888 coins to voters who stake between Dec. 24 and 25, 2020. The distribution of the tokens is scheduled to take place by the end of January 2021.
Also, back in October, decentralized exchange Uniswap surprised its users when it announced its UNI governance tokens and airdropped 400 UNI tokens per trader. At the time of the airdrop, the 400 UNI were worth $1,200.
On Christmas day, 1inch, a decentralized exchange aggregator platform also launched its governance and utility token and proceeded to distribute 90 million 1INCH tokens to eligible users. One recipient, in particular, received the highest number of tokens, which was over 9.74 million tokens, worth $27 million when the value of the token peaked at $2.8.
With the various airdrop events that happened in 2020, more DeFi traders are looking to benefit from airdrops in 2021.