The public sale for $1WIN opened at 18:00 on October 15 and crossed $3.9 million in USDC commitments by 18:08, reaching enough demand to cover the full 130 million-token public allocation within 8 minutes.
The milestone arrived quickly, but contributions will continue through October 30. $1WIN, the new token from the gaming platform 1win, is being sold through an oversubscription model, so the final allocation will depend on total commitments accumulated across the full subscription period.
At the sale price of $0.03, the 130 million tokens available to the public are worth $3.9 million. Any commitments above that level increase the oversubscription ratio, with tokens eventually divided among participants on a pro rata basis.
The model gives users the entire sale window to participate. Once it closes, each buyer receives a percentage of their requested allocation based on overall demand, and the unused portion of their USDC is returned to their original wallet.
A five-times oversubscribed sale provides a simple example. Someone committing $1,000 USDC would receive approximately $200 worth of $1WIN, with the remaining $800 refunded.
That structure could become particularly relevant if the pace of early demand continues. The sale reached the value of its full allocation within minutes, while participants still have until October 30 to add commitments. All $1WIN distributed through the public sale will be 100% unlocked, with no vesting or lockup period. Token claiming is scheduled to begin on October 31 here.
The sale is the latest stage in 1win’s move deeper into Web3. The company has operated since 2016 and says its platform now serves 100 million registered players across international markets, spanning casino gaming, sportsbook and esports, crypto payments and other entertainment products.
$1WIN is being introduced as a utility layer across that existing ecosystem. Built on Solana, the token has a fixed total supply of one billion $1WIN, with no additional minting after TGE. It is designed for use across gaming, betting, lottery and reward products.
User participation also makes up a large part of the token distribution. 51% of total supply is allocated to user-facing mechanisms: 25% to platform game reward pools, 18% to Wager Rewards and 8% to distribution through the 1win Telegram Mini App.
The token also connects platform activity with its supply mechanics. 1win plans to fund regular open-market $1WIN buybacks using revenue generated by its gaming business. In addition, 10% of $1WIN spent through supported platform products will be permanently burned through a smart contract.
Those mechanics will come into play as $1WIN begins circulating throughout the wider platform. The more immediate story is the level of demand around its first public distribution.
Crossing $3.9 million in 8 minutes means the available allocation was fully subscribed almost immediately. With commitments continuing until October 30, the final oversubscription figure will determine how much $1WIN each participant receives when allocations are calculated.