Kraken has announced plans to airdrop $PUMP tokens to users who faced failed orders during the token sale of Pump.fun.
Kraken Announces $PUMP Airdrop
Kraken has confirmed it will airdrop $PUMP tokens to users who were unable to complete their purchases during the Pump.fun sale due to 'system constraints.' Co-CEO Arjun Sethi noted that the sale was fully subscribed in under sixty seconds, with demand far exceeding available supply.
CITE_W_A: "We reviewed internal order logs and client activity to identify those affected," Sethi said.
Token Acquisition for Airdrop
Kraken will acquire $PUMP tokens from the secondary market to fulfill the airdrop. At the time of writing, $PUMP is trading around $0.0064, which is above the public sale price of $0.004, indicating that affected users may receive tokens at a premium.
Kraken's global head of consumer business noted that impacted users will receive an email soon. "We’re working on a list," the staffer remarked.
Issues Faced by Other Exchanges
Kraken was not the only exchange facing problems during the $PUMP sale. Bybit issued an apology after users reported issues placing orders just seconds after the sale opened.
CITE_NA: "Due to an unexpected API delay the offering was oversubscribed," Bybit wrote. BitGet, MEXC, KuCoin, and Gate also participated in the sale, but none have announced similar airdrop plans.
Kraken has taken steps to compensate users who faced issues during the $PUMP sale. The airdrop is expected to provide users with a chance to receive tokens despite the initial difficulties.
