- Cap, a stablecoin protocol backed by Franklin Templeton, has reduced its 'Stabledrop' user reward from $12M to $4.2M due to funding shortfalls.
- The founder apologized for the reduction, citing a lack of secured funding at the time of the initial commitment, and denied allegations of self-dealing.
- The incident highlights the risks and uncertainties associated with crypto airdrop programs and tests user trust in emerging protocols.
Topics: Asset types, Institutional adoption, Legal regulatory, Stablecoins digital cash, Asset manager initiatives, Investor protection disclosure
Tags: #cap #stabledrop #airdop #stablecoin #franklintempleton #userrewards #tokensale #governancetoken #usertrust #selfdealingallegations
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