Airdrops are once more dorsum in mode following the recent five-figure token drop from the Ethereum Name Service protocol that kicked off a flurry of protocol engagements from hopeful crypto enthusiasts looking to make it on the adjacent "crypto stimulus check."

Paraswap is the most contempo project to reward early adopters, despite their early Oct statement that the project had no intention of conducting an airdrop. The decentralized commutation aggregator is designed to assistance decentralized finance traders and decentralized applications notice the all-time rates currently bachelor in the market.

This attempt to throw airdrop hunters was likely done to forbid crypto holders from trying to "game the system" by conducting a Sybil attack in which 1 business relationship uses multiple faux addresses to interact with Paraswap'south interface equally a way to obtain a larger airdrop.

Unfortunately for many honest DeFi users, ParaSwap's attempt to weed out nefarious actors appears to accept gone overboard as data indicates that out of the i.3 meg addresses that interacted with the protocol, but xx,000 are eligible for the PSP airdrop.

The increased scrutiny that led to only 1.5% of the total number of wallets that interacted with the platform qualifying for the airdrop has been a boon for those who did authorize because the smaller puddle of participants resulted in a larger resource allotment of PSP tokens to each qualifying wallet.

Users in the lowest airdrop tier received 5,200 PSP tokens while the center tier received vii,800 PSP and the most active traders received 10,400 PSP tokens.

Despite the uproar the qualification criteria caused with the DeFi community, most recipients are staking their new PSP tokens for upwards to 643% APY.

Related: OMG toll crashes by one-third after BOBA airdrop snapshot

Data from CoinGecko shows that in its first day of trading, the price of PSP has ranged from a loftier of $2.10 shortly after launch to a depression of $1.18 at midday and is trading at a price of $i.43 at the time of writing.

PSP/USD 10-min chart. Source: CoinGecko

Assuming PSP price holds at the current levels, it could marker yet another five-figure stimulus check for DeFi users who continue to benefit from their willingness to interact with new protocols and help evolve the cryptocurrency ecosystem.

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