Former President Donald Trump’s memecoin team has officially denied rumors circulating on social media that holders of the Official Trump (TRUMP) token must possess at least $300,000 to attend an exclusive dinner with the president. The clarification comes after confusion arose from the Solana blockchain explorer, which led some community members to misinterpret the eligibility criteria for the upcoming event.
Key Takeaways
- The Trump memecoin team denies the $300,000 dinner requirement.
- Eligibility is based on a leaderboard of token holders, not on the blockchain explorer.
- A background check and compliance measures are required for attendees.
Clarification on Eligibility Requirements
On April 25, the Trump memecoin team took to their official X account to address the misinformation. They stated that the $300,000 threshold was a misunderstanding, emphasizing that the blockchain explorer does not accurately reflect the criteria for participation in the dinner event.
The team explained:
- Misinterpretation of Data: The 220th-largest holder on the blockchain explorer was incorrectly cited as the cutoff for eligibility. This holder has 33,114 TRUMP tokens, valued at over $400,000, but the team clarified that this figure includes locked tokens and accounts not actively participating in the memecoin project.
- Correct Criteria: Instead of relying on the blockchain explorer, potential attendees should refer to the official leaderboard, which lists eligible wallet addresses based on their holdings and the duration of their token ownership.
How Eligibility Is Determined
The Trump memecoin team has outlined a clear process for determining who qualifies for the dinner:
- Leaderboard Rankings: Token holders are ranked based on their holdings and the length of time they have held their tokens. The longer the tokens are held, the higher the weighted score.
- Background Checks: All potential attendees must undergo a background check to ensure compliance with regulations.
- Know Your Customer (KYC) Measures: Wallets will be subject to KYC checks to verify the identity of the holders.
As of now, the top holder on the leaderboard possesses over 1.1 million TRUMP tokens, valued at approximately $14.6 million, with a time-weighted score exceeding 686,000. In contrast, the 220th holder has only 1,125 TRUMP tokens, worth nearly $15,000, and a score of 136.
Conclusion
The Trump memecoin team’s swift response to the rumors highlights the importance of accurate information in the rapidly evolving world of cryptocurrency. As the dinner event approaches, the team continues to encourage transparency and compliance among token holders, ensuring that the event remains exclusive yet accessible to genuine supporters of the memecoin initiative.
For those interested in participating, it is crucial to stay updated through official channels and verify eligibility based on the leaderboard rather than speculative claims circulating on social media.
