1inch, a decentralized exchange aggregator, recently experienced a massive unlock that saw tokens currently worth $111 million released from their vesting schedule.
On December 1, nearly 227.2 million 1inch tokens were unlocked, accounting for nearly 15% of the total supply of 1.5 billion tokens.
In December 2020, the DEX aggregator will launch its native token. Only 6% of the total supply was released at the time, with the remaining tokens subject to a four-year vesting schedule that ends in December 2024.
Similar to other DeFi projects, the core team, investors, advisors, and the community all received tokens at first.
In June, the last 1inch token unlock occurred. At that time, the coin’s spot price fell by 25%, from $0.81 to $0.60. As cryptocurrency prices have fallen, the token price has decreased by more than 80% this year.
After the June unlock, a whale wallet sent 15 million tokens to Binance. According to Etherscan data, on December 2, the same wallet transferred 15 million 1inch tokens to Binance.