X2Y2 becomes the most traded token on Uniswap after market airdrop for 860,000 users

X2Y2 Marketplace issued 12% of the total X2Y2 token supply to users who traded on the NFT OpenSea trading platform before January 2022. X2Y2 is a decentralized NFT marketplace that offers the same functionality as the OpenSea and LookingRare platforms.

The source: Into the block

Unfortunately for some users, the market has been hit with numerous technical difficulties that have temporarily halted the airdrop process. In the past, users have asked the decentralized platform to quickly review blockchain security if they were unable to do so by the promised date.

Later, X2Y2 confirmed that the accounting firm had analyzed the platform’s contracts and confirmed that there were no serious problems.

After the majority of tokens were airdropped, the platform announced that the rules of receipt are changing and tokens will only be sent to users with a trading volume of more than 1 ETH on OpenSea in the last 24 hours.

Accordingly, this native token will soon become the most traded pool in Uniswap V2. Token trading volume is currently around $130 million, with nearly $21 million in liquidity and $400,000 in user fees.

According to the token’s allocation policy, 65% of the supply is used for staking rewards. Other sections are for Airdrop, Team, Development, Treasury, and Ecosystem.

Many users and industry experts have called the platform a “vampire attack” on OpenSea, meaning that the project is “stealing” users by simply offering them “free” tokens. It is not yet clear how many users will continue to use this decentralized NFT marketplace, but it has attracted thousands in the last 24 hours.

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