The system is still under pressure as users denounce empty hands after the pump token sale. Based on this, Kraken co-founder Arjun Sethi has announced plans to help ease the affected users.
Meanwhile, BYBIT continues to face backlash after the highly subscribed Meme Coin Sale, claiming that users are on time, but still have rugs on top.
Kraken’s Arjun Sethi promises pump airdrop after glitch on token sale
Kraken co-founder Arjun Sethi has committed to providing automatic pump token aerops to users who have been unable to complete their purchases with the recent Pump.Fun Public Token Offering due to Kraken’s system limitations.
“We looked at the internal order logs and client activity to identify those affected. To make this right, Kraken will affect users when the token goes live,” writes Sethi.
Additionally, Kraken Exchange executives have clearly shown during the sales window that eligibility prioritizes verified order intent. This means that the distribution is automatic and free, so users don’t need to perform any actions.
In hindsight, the launch created intense demand, and Kraken sales were fully allocated within a minute. Meanwhile, as reported by Beincrypto, Pump.Fun raised $500 million as the tokens sold out in a record 12 minutes.
According to Sethi, despite user timely attempts, Kraken’s system was unable to keep up with the reaction speed required to send an order.
The move appears to be aimed at rebuilding confidence among Kraken’s user base. It also helps to strengthen our commitment to equity and resilience of the platform.
“Events like these highlight the importance of access, speed and reliability. We continue to invest in all three,” Seti emphasized.
By taking responsibility for system constraints, Kraken is keeping his distance from his competitors. Bybit, a peer in that market, is still under attack due to token mismanagement and flawed communications.
Meanwhile, community members were favorably receiving the “no action” promise and an automatic refund airdrop.
This comment from Mert Helius, popular user of X and CEO of Web3 infrastructure platform Helius Labs, reflects the careful approval of Kraken’s aggressive gestures without fully trusting user complaints.
Nevertheless, some users have expressed lingering concerns.
“Can I make this a little more clear? The sale seemed to be open for around 15 minutes. If I tried to buy via the app, I just said, “This token is low liquidity/added to my favorites.” One user posed, “Which clients are accurately targeted.”
Kraken has yet to say whether only “on-screen” order attempts were counted. In that case, you can rule out users who encountered ambiguous UI errors.
Kraken’s co-founder promises Pump Airdrop to disenfranchised users. Everything I know so far has first appeared in Beincrypto.
