Kraken Airdrops PUMP Tokens After Glitch
Kraken Airdrops PUMP Tokens Following Token Sale Glitch
Kraken co-founder, Arjun Sethi, has announced an automatic airdrop of PUMP tokens to users who experienced issues completing their purchases during the recent Pump.fun token sale. The issue stemmed from Kraken's systems being overwhelmed by the high demand.
The Pump.fun token sale, which raised $500 million, saw tokens sell out in a record 12 minutes. However, many users reported being unable to finalize their transactions due to Kraken's system limitations. Sethi stated that Kraken reviewed internal logs and user activity to identify affected users.
Airdrop Details
Sethi confirmed the airdrop will be automatic, requiring no action from eligible users. Eligibility will prioritize those who demonstrated a clear intention to purchase during the sale window. The airdrop will occur once the PUMP token is live.
This proactive move by Kraken aims to restore user confidence and highlight the company's commitment to fairness and platform stability. Sethi emphasized the importance of "access, speed, and reliability," promising continued investment in these areas.
Comparison with Bybit
Kraken's response contrasts sharply with Bybit's handling of a similar situation. Bybit faced significant backlash over its own token sale, with users alleging mismanagement and poor communication.
Community Reaction
The community's response to Kraken's airdrop announcement has been largely positive, with many users appreciating the transparent and proactive approach. However, some users have raised concerns about the specifics of eligibility, questioning whether only users who experienced clear on-screen errors during the sale would qualify.
Kraken has yet to clarify this point, leaving some ambiguity about the exact scope of the airdrop.
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