ParaSwap exchange gave away thousands of dollars worth of tokens to users for free

ParaSwap exchange decided to please users with a free distribution of PSP tokens. The average amount per person was $7,500.

ParaSwap issued its own token called PSP. 7.5% of the 2 billion total issue, i.e. 150 million units, were distributed to 20,000 users of the trading platform. Their activity on the platform was taken into account when selecting the lucky winners.

At the time of the distribution the value of the PSP was $1.8 each, which means that the exchange distributed a total of $270 million, and on average it was $7,500 per person. The rate later rose to nearly $2, but then dropped sharply. At the time of writing (10:59 Kiev time), one digital coin is valued at $1.36.

ParaSwap will save 51% of the tokens in its ecosystem. 10% will go into reserve. Early investors will have 14% of the digital coins and advisors will have 2.4%. Cryptocurrency creators will take 17.6% and 5% of tokens will remain for future platform members.

Source: The Block