US President Donald Trump’s memo Coin team has denied social media rumours that Trump (Trump) token holders would need at least $300,000 to participate in upcoming dinners with the president.
On April 25, Trump’s official Memocoin X account revealed that there is no $300,000 requirement to attend a Memecoin Project dinner event featuring the US president.
The rumours came from members of the community, citing the Solana Blockchain Explorer, which indicates the owner at Token’s contract address. At the time of writing, explorers have shown that the 220th largest owner has 33,114 cards, worth more than $400,000. However, the MemeCoin team said the explorers didn’t reflect the standards.
“People accidentally cite #220 as a cutoff in Block Explorer. It’s wrong because it includes locked tokens, exchanges, market makers, people not participating, etc. Instead, they just leave the leaderboard,” they write.
Related: The SEC Task Force meets with companies supporting Trump to discuss crypto regulations
Trump hosts dinner for top 220 memo coin holders
On April 23, the Trump Coin team revealed the leaderboard and showed the wallet addresses of those leading the qualifying rounds for the dinner event.
The final guest list has not yet been finalized, but the MemeCoin team said token holders who want to qualify must pass a background check. Additionally, their wallets can also know how customers and compliance measures are measured.
According to Memecoin’s official website, teams choose winners based on time-weighted holdings. This calculates the amount held and the time the token was held. “The longer you hold, the higher the weighted score,” the team wrote.
At the time of writing, the leaderboard’s top holder holds $14.6 million tokens, over $1.1 million, but only has a time-based score of over 686,000. The 220th wallet holder has 1,125 cards, which is almost $15,000 with a score of 136.
The leaderboard also shows that some addresses with zero current Trump holdings are eligible for dinner. This could be due to the amount of time they previously held the token.
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