WEN airdrop ends with unclaimed supply depleted and price fluctuates significantly
As the airdrop period for Solana-based WEN tokens ended, a quarter of the supply was burned due to unclaimed tokens.
Paying homage to the cryptocurrency community’s frequent inquiries about issuing new tokens, the WEN token was part of a new experiment involving fractionalized NFTs.
Simply put, @weremeow’s poem is converted into an NFT and then divided into 1 trillion parts, each part representing a WEN token. With this approach, the creators describe WEN as the first community coin based on fractional NFTs.
This airdrop was conducted through Jupiter, a decentralized exchange aggregator, as a large-scale test of the new Launchpad. Jupiter’s platform was to be leveraged again to launch its own token, JUP, targeting nearly one million wallets.
WEN’s airdrop strategy was extensive, targeting over one million eligible Solana wallets. This included Jupiter users active in the past six months, owners of various popular NFT projects on the platform, and owners of Solana Saga smartphones.
As of 10 AM EST on Monday, the price of WEN fell to $0.00012748, according to updated CoinGecko data, before plummeting after the token burn before rising back to the current price of $0.0001362.
The 24-hour range of the token fluctuated between $0.000124 and $0.0001808. This pricing means that requesting an airdrop that will allocate 645,652 tokens to each wallet will earn users approximately $92 based on the latest prices.