CoinList’s Second Attempt at Hosting NEAR’s Final Token Sale Saw Its Struggle as Investors Rushed to Participate
CoinList’s Second Attempt at Hosting NEAR’s Final Token Sale Saw Its Struggle as Investors Rushed to Participate
August 13, 2020
CoinList’s Second Attempt at Hosting NEAR’s Final Token Sale Saw Its Struggle as Investors Rushed to Participate
CoinList’s Second Attempt at Hosting NEAR’s Final Token Sale Saw Its Struggle as Investors Rushed to Participate
August 13, 2020

CoinList’s second attempt at hosting NEAR’s final token sale saw the platform struggle as investors rushed to participate, despite selling out in less than three hours.

It has been reported that NEAR’s final sale before mainnet was originally planned for August 11, the token sale was abruptly postponed by 24 hours after investors were left-clicking refresh and filling out captchas for 90 minutes while unable to participate in the offering.

However, despite CoinList reassuring users that the platform would be scaled to handle the surge in traffic, many investors found themselves clicking refresh for nearly two hours while waiting to access CoinList again.

As per the report, although CoinList’s near-disastrous performance throughout the sale, NEAR sold out of 100 million tokens worth nearly $30 million within less than three hours of the sale’s commencement.

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Many wannabe NEAR investors missed out, and many of them blamed the technical issues.

Likewise, CoinList’s Twitter account has been besieged by complaints from prospective investors who were unable to purchase tokens, with the account tweeting its apologies to the NEAR community over the past hour.

Thus, CoinList stated:

“The sale was oversubscribed” and that “a majority of participants were always going to miss out. The firm is currently “working through a post-mortem” to “ensure fairness.”

Source: Cointelegraph | Image: SludgeFeed


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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.
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