When the Solana-based WEN token's airdrop period ended, a quarter of its supply was burned due to unclaimed tokens.
The WEN token, an homage to the cryptocurrency community's frequent inquiries for new token minting, was part of a novel experiment involving fractionalized NFTs.
In simpler terms, a poem by @weremeow was transformed into an nft and then split into a trillion pieces, each representing one WEN token. This approach led the creators to describe WEN as the first community currency based on fractional NFTs.
This airdrop was done via Jupiter, a decentralized exchange aggregator, as a large-scale test for its new launch platform. The Jupiter platform was ready to be used again to launch its own token, JUP, targeting almost a million wallets.
WEN's airdrop strategy was expansive, targeting over one million eligible Solana wallets. This included active Jupiter users from the past six months, holders of several popular nft projects on the platform, and owners of Solana Saga smartphones.
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As of Monday 10am EST, WEN price had fallen to $0.00012748, a sharp drop afterburning of chips before rising back to its current price of $0.0001362, according to updated information CoinGecko data.
The token's 24-hour range fluctuated between $0.000124 and $0.0001808. This price meant that claiming the airdrop, with each wallet entitled to 645,652 tokens, could net users approximately $92, based on the latest price.
