The 'Need for Swap' competition wraps up successfully

1inch has successfully wrapped-up the second part of a swap competition with Trust Wallet that saw extraordinary user engagement.

The recently concluded 'Need for Swap' competition, launched by the 1inch Network and Trust Wallet, brought together innovative technology and community engagement. The first stage of the competition, held from September 21 to October 4, celebrated the integration of the 1inch Swap API into the Trust Wallet Browser Extension. It offered unique ways for participants to engage and win. A prize pool of $25,000 USDC was distributed to the contestants. 

Building up on the first stage’s success, a follow-up was launched, running from October 26 to November 4  and offering  participants a chance to compete for another $25,000 USDC in the prize pool. All rewards were distributed to the winners by November 18, ensuring a timely and successful conclusion to this thrilling event.

Overview of the competition

As the competition is now over, it's worth reflecting on the diverse entry opportunities that were available to participants.

• EVM swaps in Trust Wallet. The primary focus was on executing qualifying EVM swaps within the Trust Wallet, with a major prize pool allotted for this category.
• Social media engagement. Users also had a chance to win rewards by reposting the event's announcement, increasing its reach.
• CMC Live session participation. Engaging in the CMC Live session with insightful questions added another layer of interaction and reward opportunities. 

These entry points were designed to attract a wide range of participants, from active traders to community enthusiasts, ensuring that everyone had a chance to be part of this engaging event.

Prize distribution and winners

A significant portion of the prize pool, amounting to 22,500 USDC, was allocated to participants in EVM swaps. The rewards were distributed across various tiers, with winners determined based on the size of their swaps.

The prize distribution was tailored to a wide range of participants, with the top swapper receiving 2,500 USDC. Other tiers included 1,250 USDC for four winners, 500 USDC for 20 winners, 100 USDC for 25 winners and 50 USDC for 50 winners.

Social media participants and active CMC Live session members also received their share of rewards, further enriching the overall spirit of the competition. The journey of each winner was truly unique, reflecting the multiple ways users interacted with 1inch, Trust Wallet and the overall DeFi space.

Technical transparency 

Mimic, as the technical partner, was responsible for the distribution of rewards, ensuring a seamless and fair process.  The data related to qualifying wallets and EVM transactions was made available on Dune, adding an extra layer of transparency and enabling users to verify the fairness of the competition.

1inch extends congratulations to all the winners and expresses gratitude to every participant who made this competition a memorable event. Across the two stages, a total of 50,000 USDC was distributed, demonstrating 1inch’s  significant commitment to rewarding community engagement. Looking ahead, the crypto community can anticipate more such events, each promising exciting opportunities and rewards.

 Stay tuned for exciting Christmas surprises and new competitions coming soon!