Telegram Wallet to Distribute $10M to Affected by Notcoin Listing
On May 16, the long-awaited listing of Notcoin took place, causing turmoil in the markets. The Telegram Wallet was unable to cope with the influx of users.
In a statement, the Wallet team emphasized that they prepared for the listing in advance, setting up servers so that users could seamlessly use the platform during the Notcoin listing. However, the hype turned out to be beyond all their expectations, which led to the shutdown of the Wallet's operations for an extended period of time.
According to the team, about 100,000 users were trying to buy and sell Notcoin at the same time, and the growing queue of requests for payment processing led to the suspension of the Wallet. It took only two days to fully restore operation.
The representatives of the Wallet underlined that all this time the users' funds remained safe, but admitted what damage the failure could bring to those who made transactions during this time. Hence, the team announced a $10 million distribution to those affected.
The team will allocate an additional 10% NOT of the amount received by the user, as the coin's exchange rate dropped by about 10% during the downtime of the Wallet.
In addition, the developers will refund the fees for selling cryptocurrency on the P2P Market for May 16 and 17 and will remove the fees for P2P transactions from May 20 to 22 inclusive. And the most loyal users of the USDT-TON campaign will get more bonuses.
Users will get 250% APY on USDT in their bonus account from May 15 to May 21. Bonuses in the Notcoin campaign will also increase: the team will credit 10 Notcoin for each Toncoin between May 15 and May 21.
The team will extend these two campaigns for one more week. The team plans to distribute all bonuses by May 26.
