1win, a crypto entertainment platform, has officially launched its native Solana-based token, $1WIN, following a highly oversubscribed public sale. The Token Generation Event (TGE) marks $1WIN's debut for on-chain trading via Meteora, a Solana liquidity protocol, expanding the platform’s presence in the Web3 space.
Public Sale Sees Strong Demand
The two-week public sale for $1WIN attracted over $61 million in USDC commitments from more than 6,100 participants. With only 130 million tokens available at $0.03 USDC each, the offering was oversubscribed by more than 15 times. To manage demand, 1win used a pro-rata oversubscription model, ensuring each participant received a proportional share of tokens, with unused USDC returned to their wallets.
Token Trading and Utility
Following the TGE, $1WIN is now tradable on Meteora and compatible with standard Solana wallets. The token has a fixed supply of one billion, with about 27% unlocked at launch. As the native token for 1win’s gaming ecosystem, $1WIN is designed to add Web3 utility and reward features to the platform’s user base, which spans international markets.
Buybacks, Burns, and Security Measures
1win has outlined a model where regular buybacks of $1WIN will be funded by gaming revenue, not token reserves. In addition, 10% of tokens spent through supported products will be permanently burned, with the first burn scheduled 30 days after TGE. Security of the token ecosystem was independently assessed by CertiK and Halborn prior to launch.
Implications for the Industry
For operators and affiliates, the launch of $1WIN demonstrates a growing trend of established gaming businesses integrating blockchain and token-based incentives into their platforms. The use of revenue-funded buybacks and transparent token burns may offer a model for sustainable tokenomics in the sector. Security audits by recognized firms could also set a standard for future token launches in the iGaming space.
Key takeaways
- 1win’s $1WIN token launched after a 15x oversubscribed public sale.
- $1WIN is now available for trading on Solana’s Meteora protocol.
- Buybacks and token burns are funded by gaming revenue, not reserves.
- Security audits and Web3 features highlight industry best practices.