ZachXBT accuses Percolator team of abandoning token holders in $250,000 raise
The Solana perpetuals protocol dropped its original Pump.fun token to raise new capital via MetaDAO, leaving existing holders without an airdrop or swap.
Key takeaways
- 1ZachXBT accused the Percolator team of abandoning holders of its original Pump.fun token.
- 2Percolator is raising $250,000 for a new token via MetaDAO without offering an airdrop or token swap.
- 3Solana traded down 0.2 percent at $89.56 with a $52.9 billion market capitalisation on 8 November 2026.
On-chain investigator ZachXBT said on 8 November 2026 that the development team behind Solana perpetuals protocol Percolator abandoned holders of its original token to conduct a new $250,000 capital raise. The team dropped its initial token, which was launched on the Pump.fun platform, in order to issue a new asset through governance platform MetaDAO.
Under the structure of the MetaDAO raise, existing holders of the original Pump.fun token receive no free airdrop and no direct token swap. Instead, early investors are only granted the right to buy into a paid slice of the new token sale. ZachXBT said the decision effectively rugged all holders of the old token.
Percolator operates as a perpetual futures trading protocol built on the Solana blockchain. Projects on the network frequently issue initial micro-cap tokens on platforms such as Pump.fun before restructuring or seeking larger funding rounds through decentralised governance tools. Solana traded down 0.2 percent at $89.56 on 8 November 2026, holding a market capitalisation of $52.9 billion.
The restructuring points to the execution risks facing retail buyers of early-stage micro-cap tokens that lack binding investor protections or migration terms. Market participants are watching whether the Percolator team alters its distribution model or if MetaDAO voters block the exclusion of original holders.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.