GRASS Airdrop Debut Completely Fails Due to Phantom Wallet Error due to Exploding Demand

Bittime - The GRASS airdrop launch failed miserably after Phantom Wallet (Solana's main wallet) experienced technical problems. The booming demand from users to claim GRASS tokens led to downtime for almost three hours. 

This makes many users lose access to their balances and experience difficulties in making transactions.

Phantom Wallet, which is the main tool for the Solana community to store and manage digital assets, confirmed that despite the inaccuracy of the displayed balance, user funds remain safe. 

However, this incident highlights serious operational challenges amid a crucial moment for the Solana crypto community.

Massive Distribution of GRASS Tokens with Technical Challenges

GRASS airdrop is in the spotlight because it distributes 10% of the total token supply to the participants. With more than 2 million users attempting to claim and trade those tokens simultaneously, the Phantom Wallet system overloaded. 

Based on data from SolanaFloor, this is The largest airdrop in Solana history in terms of user participation.

The GRASS project itself is designed to provide incentives to users who share unused internet bandwidth. This airdrop is a way for the GRASS network to introduce its tokens to the market and utilize user capacity to training an artificial intelligence (AI) model. 

GRASS tokens have also been registered on various well-known crypto exchanges, such as Bybit, Bitget, KuCoin, Bittime, and Crypto.com.

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Phantom Wallet Problems and Response from the Team

Problems with Phantom Wallet started at around 20.36 WIB, just a few minutes after the GRASS token claim was opened. Users immediately reported that their balances were not showing up correctly, and some were even unable to complete transactions. 

Downtime this goes on until 23.20 WIB, where service returned to normal after nearly three hours of disruption.

In a statement on the X platform (formerly known as Twitter), Phantom asked users to “ignore simulation errors” and try to use decentralized applications (dApps) to complete transactions if necessary. 

They also promised to actively monitor the situation and take preventive steps so that similar problems do not happen again.

Although this is not the first time the Phantom has experienced problems, it is noted 12 major backend incidents throughout 2024, This time the problem occurred at an important moment for the Solana ecosystem, namely when the GRASS airdrop took place.

Impact on GRASS Price Movements

Since launch, GRASS price has shown sharp fluctuations. One hour after his debut, the token price drops by up to 28% become $0,65 (Rp10.205). However, the price soon recovered 9% and return to the level $0.71 (Rp11.147) when this article was written.

Even though Phantom Wallet experienced network problems Solana remains fully operational with no downtime. This indicates that the issue only occurs on the Phantom platform and not on Solana's core infrastructure. 

High activity in the Solana ecosystem even managed to result in network fees reaching $2.54 million (Rp. 39,878 billion) in a day. This surpassed Ethereum's record $2.07 million (Rp. 32,499 billion) in the same period.

This surge in activity is also reflected on the decentralized exchange platform Solana, viz Raydium. This DEX produce $3.41 million (Rp. 53,537 billion) in transaction fees in the last 24 hours.

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Downtime Chronology and Lessons for the Crypto Community

The Phantom Wallet incident highlights its importance resilience of digital wallet infrastructure in the face of a surge in user activity. Phantom reported that this downtime was the second incident in October, after a brief 8-minute disruption on October 3.

However, the Solana community continues to show confidence in this platform. Through April 2024, Phantom recorded more than 7 million users, making it one of the most popular wallets in the Solana ecosystem.

Conclusion

The GRASS airdrop was supposed to be a celebratory moment for the Solana community. However, the distribution of this airdrop was marred by technical problems that sparked disappointment. 

However, this incident provides valuable lessons for developers and the crypto community about the importance of infrastructure readiness to face high demand.

Phantom Wallet has promised to improve services and prevent the recurrence of similar problems in the future. For users, it is important to remain alert and actively follow the latest developments so as not to miss opportunities in the fast-moving world of crypto.

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