Frenzy. One of the most anticipated token sale -about a web browser- sold out in 30 seconds. An investor paid $6,000 in transaction fees to jump the queue and be the very first. Another paid $2,000.
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Seconds after the opening of the sale, millions poured in. Around $5 million is the highest sum invested, followed by around $4 million, with many more at $2 million and $1 million.
You simply had no chance of getting in. $65,000 in fees have been paid for transactions which did not go through because the cap had already been reached by that stage.
Bat’s token sale smart contract address – image source etherscan.
Bots. An army of them raced at block 3,798,640, crashing some nodes and wallets, kicking everyone else out of the network, with the event finished nearly as fast as Husain Bolt can run 100 meters.
Once that $36 million cap was reached, everyone else crashed against a wall, with their transactions rejected, but their fees kept by miners. That includes someone who sent $10 million, but their transaction was unable to get through, the network so returning their funds.
They, of course, are not happy for losing the bot race, so they took on to complain for any number of reasons, including how unfair it is they did not make it to the finishing line.
They’ll be able to once it starts trading, but they’re unhappy they could not buy at what probably will be the lowest price, the sale price, and that instead they will have to pay a premium either because their bot is rubbish or their fee was not $10,000.