The 1inch foundation will be giving away 10 million 1INCH tokens as gas consumption refund. According to a blog post, the foundation will distribute the token between users who stake 1INCH through the 1inch dApp. The distribution itself will begin on September 1.
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To qualify for compensation, users should transfer 1inch tokens to a special contract. The final compensation will depend on the transfer amount:
- staking of 100 1INCH allows users to get a 25% gas refund;
- staking of 1,000 1INCH allows users to get a 50% gas refund;
- staking of 10,000 1INCH allows users to get a 75% gas refund;
- staking of 100,000 1INCH allows users to get a 100% gas refund.
The 1inch team said the spent gas amount will be refunded in 1INCH tokens on the first day of each subsequent month. The distribution campaign will continue until the foundation pays out the 10 million tokens allocated to the campaign.
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