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Airdrop Analysis by Flipside Crypto: FEI, UNI and 1inch – Encryptopedia
Indeed, airdrops serve as a popular method for new projects and tokens to attract and retain long-term users and participants.
The data suggests that a significant portion of airdropped tokens are not held for long periods, with less than half retained by recipients, indicating frequent swapping or transfer to exchanges.
1inch Airdrops Lead the Way for Holders
Up to now, three distributions occurred: in February 2020, February 2021, and July 31, 2024, totaling approximately 91 million 1INCH tokens.
According to Flipside’s on-chain data, almost 40% of the distributed tokens were either swapped or sent to centralized exchanges within 24 hours. Within a week, this rate rose to nearly 50%. After 90 days, around 36.3% of tokens were retained, while over a quarter were swapped for other currencies or transferred to centralized exchanges.
FEI and TRIBE Airdrops See Heavy Swaps
Despite over 90% of the total supply of airdropped tokens being claimed for both projects, only 27.6% of the airdropped FEI and TRIBE tokens were retained. The majority, over 50%, were swapped for other currencies, as indicated by the blue bar in the graph.
TRIBE holders tended to hold onto their tokens for a slightly longer duration, with nearly 50% retaining them for over a week. However, over time, these users also showed a tendency to sell their holdings.
UNI Airdrops See the Fewest Tokens Kept
As depicted in the table below, close to 40% of users opted to swap or sell their tokens, while nearly 20% transferred them to a central exchange—significantly more than the FEI or TRIBE airdrops. In contrast, only five percent of users chose to provide liquidity on the platform.
