Peter Smith
The TON Foundation distributed 300,000 Toncoin to active meme coin traders on DeDust and Ston.fi platforms.
TON Foundation Airdrop Details
The TON Foundation distributed 300,000 Toncoin to active meme coin traders on the DeDust and Ston.fi platforms, with the initiative valued at around $2.19 million.
Traders engaging in transactions between March 4 and April 10 were eligible for the airdrop, requiring them to trade specific meme coins and accumulate points for qualification.
A Boost to Toncoin's Value
Prior to the announcement, Toncoin surged over 14% to a new all-time high of $7.65 per token. However, after the news, TON’s price dipped by 5% to $7.13. The airdrop aimed to offer 90 free tokens per eligible wallet, excluding Sybil addresses to ensure fairness.
This initiative by TON Foundation aims to promote meme coin trading and investment on its blockchain, capitalizing on the rising popularity of meme coins. Platforms like Solana have witnessed meme tokens like Dogwifhat (WIF) and Book of Meme (BOME) soar, rewarding early adopters with substantial returns.
Leveraging Meme Coin Enthusiasm
The airdrop signifies TON’s commitment to engaging meme coin enthusiasts and tapping into the growing interest in blockchain-based meme tokens.
By rewarding active traders, TON aims to further establish itself within the meme coin community and bolster the adoption of its blockchain technology.
Conclusion
With the distribution of 300,000 Toncoin, the TON Foundation strategically incentivizes meme coin trading on its platform, reflecting its dedication to embracing emerging trends and fostering community engagement within the crypto space.
Peter Smith
