The SUI burn campaign to get IKA Squid Market level is basically a form of crowdfunding (IDO). This form is only intended to circumvent the law in some countries.
The alarming thing is that they did not warn about this in advance. And currently, KYC is limited in countries like Korea.
This is really bad @ikadotxyz
It feels like the @ikadotxyz team is making a serious mistake with the current token claim process.
Right now, Korean users are unable to claim their tokens because they can’t complete KYC.
KYC for token claims? Sure, that’s understandable—but if that was going to be a requirement, it should’ve been clearly communicated from the very beginning. I, for one, don’t recall ever seeing any such notice.
Look, it’s fine to run bold or experimental strategies—but excluding Korean users who have participated fairly in the ecosystem? That’s not the way to build goodwill in this market.
I’m also concerned that this kind of approach from IKA could end up reflecting negatively on the broader @SuiNetwork ecosystem. Of course, I know they’re different team—but public perception doesn’t always make that distinction.
I’ve seen a lot of airdrop strategies over the years, but this one is uniquely weird.
If this doesn’t get fixed, IKA really shouldn’t expect to host any successful meetups or activations in Korea period.
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