Notcoin Unveils Compensation Plan as Listing Overwhelms TON Ecosystem

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As a crypto investor who has been following the TON ecosystem closely, I’m relieved to hear that they have announced a compensation plan for users affected by the challenges during the Notcoin listing. The sudden surge in user activities far exceeded expectations and resulted in some technical difficulties that impacted various functionalities within the TON ecosystem.

The TON platform has unveiled a reimbursement scheme for those impacted by the unexpected interruption in its functionality during the Notcoin listing event.

As a researcher studying the TON blockchain, I prepared for the Notcoin listing, an anticipated milestone for our community, which took place on May 16. To accommodate potential growth in user numbers and ensure seamless operations, additional servers were integrated into the ecosystem, while internal systems were meticulously optimized.

Notcoin Listing Challenges

When the listing became active, the protocol encountered significantly greater activity than anticipated. At a certain juncture, there was an overwhelming surge in user actions, with over 100,000 individuals engaging in Notcoin exchange transactions concurrently. This level of activity represented a staggering increase of twenty times compared to the all-time high recorded within the TON ecosystem. As a result, certain databases experienced issues and a noticeable slowdown ensued.

As a crypto investor, I recently experienced an unexpected halt in the functioning of my TON wallet due to a surge in demand. This interruption lasted for approximately 6 hours, causing some instability within the system. However, I was reassured as the incident resolution protocols swiftly kicked into gear and managed to restore stability for the majority of users by May 17. Furthermore, TON assured us that our funds remained secure throughout this process and have not been compromised up until now.

As a researcher studying user experiences within the TON ecosystem, I’ve uncovered some concerns raised by users during the platform’s turbulent period. Specifically, several individuals expressed challenges when attempting to exchange Notcoin for other cryptocurrencies or fiat money upon its listing. Unfortunately, they found themselves unable to complete these transactions, resulting in missed opportunities. Additionally, there was a significant price drop of around 10% for Notcoin immediately following its launch. Another user group reported difficulties accessing their funds from the Wallet Earn feature at inconsistent intervals.

As a crypto investor, I’ve encountered situations where certain transactions took more time than expected to be processed, and Peer-to-Peer (P2P) transactions became uncertain. Sellers found themselves dealing with multiple appeals from buyers, while some buyers experienced their own set of challenges during these transactions.

TON and Notcoin Compensation Plan for Users

As a analyst in the TON ecosystem, I want to share with you that in accordance with the Notcoin compensation plan for any potential losses during the listing process, we have opted to grant an extra 10% of the deposited coins to those users who selected the Wallet option to receive their Notcoins.

These measures aim to mitigate the 10% price decrease of Notcoin post-launch. Sellers who experienced technical issues while trading on the TON platform during specific days in May will receive refunds for their transaction fees. Furthermore, from May 16 to 22, USDT bonuses will be multiplied by five, and the USDT in the bonus account will yield an annual percentage rate of 250%.

Furthermore, TON has announced that it will not charge fees for transactions on its P2P Market during May 20, 21, and 22. This move aims to create optimal conditions for all users to transact smoothly. Moreover, those who deposited funds into bonus accounts during the USDT-TON and TON-NOT campaigns will receive enhanced rewards. As a result, any USDT kept in the Earn account between May 16 and 22 will generate a 250% annual percentage yield.

People who held Toncoin in their Earn accounts during this time are the latest group to be recognized. These individuals will now earn double the reward amount for Notcoin. Additionally, the incentive program for regular users and those with Toncoin in their Earn accounts will be prolonged by a week. This extension aims to bring extra rewards to users beyond the originally planned benefits.

The compensation from the 570 million NOT airdrop and other related initiatives amounts to more than $10 million when calculated using the present exchange rate.

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2024-05-20 15:09