CoinList’s Second Attempt at Hosting NEAR’s Final Token Sale Saw Its Struggle as Investors Rushed to
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.
CoinList is facing a flood of complaints from angry users who were unable to participate in the NEAR sale despite clicking refresh for hours https://t.co/WPX8UuFjmM — Cointelegraph (@Cointelegraph) August 13, 2020
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.
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.
1/ The NEAR token sale obviously did not go as planned for many of you who wanted to participate. To the NEAR community, we are truly sorry. We’re working with the NEAR team to find a way to make things right for you. — CoinList (@CoinList) August 13, 2020
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.”