The non-profit arm of decentralized exchange aggregator 1inch plans to give away more than $23 million to users starting September 1.
In an announcement on Tuesday, the 1inch Foundation said it would begin distributing 10 million of its native 1INCH in an effort to refund gas costs for users who stake the tokens. The foundation intends to issue monthly refunds for those who stake the token anytime between the first swap in a given month and the day it distributes 1INCH.