source avatar0xMedia

Share

Web3 version of the Xiaohongshu options dispute? https://t.co/pxZiT1KtGs Entangled in employee token vesting controversy https://t.co/pxZiT1KtGs @Pumpfun rapidly expanded during the meme coin boom, growing its team from just a few people to nearly a hundred. To attract and retain talent, the company granted PUMP tokens to certain employees, but the agreement included a one-year vesting cliff—employees had to work for a full year before receiving their first 25% of tokens. After PUMP’s price surged, the potential value of tokens held by some employees reached millions of dollars. Subsequently, https://t.co/pxZiT1KtGs terminated the contracts of a number of employees, citing overly rapid expansion and declining team efficiency—but these employees were just about two months away from vesting their first token tranche. Later, anonymous accounts alleged that approximately 40 employees were laid off the day before their tokens were set to unlock, and company co-founders were accused of failing to publicly address these concerns. Outsiders began suspecting this might have been a deliberate layoff strategy to prevent the vesting of high-value solana:pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn tokens. If employees seek legal recourse, practical options are extremely limited. https://t.co/pxZiT1KtGs’s team is distributed across multiple countries and regions; while the operating entity, Baton Corporation Ltd., is registered in the UK, it has not disclosed the arbitration venue in either employment or token grant agreements. For employees scattered globally, challenges such as labor status classification, cross-border jurisdiction, and prohibitively high litigation costs may all serve as barriers—making millions of dollars in token incentives visible but potentially unattainable, ultimately becoming Schrödinger’s solana:pumpCmXqMfrsAkQ5r49WcJnRayYRqmXz6ae8H7H9Dfn.

No.0 picture
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information. Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.