If you hold $FTR tokens, check whether you've received dividends in $TSLAx and $SPCX. Look right away. If you haven't received them (and even if you have, check carefully, because you may also be missing dividends from other tokens), read this article to the end. It could save you a significant loss over time, possibly hundreds of U, even thousands or tens of thousands of U.
#FTR was launched through the $OTC platform. Trading fees are distributed as dividends in TSLAx and Musk's SPCX. But my FOMO account only received SPCX, not TSLAx. I looked into why, and that's how I found out. Read carefully, because I missed dividends too, including on $SI, which I bought earlier. It was also launched on the OTC platform and distributes dividends in six tokens, and I missed a lot of those dividends as well.
If you hold $FTR or $SI (or any other token with dividend features) and want to receive dividends, first your SOL wallet address needs to have the ATA account for that token opened. In plain terms: do you remember the SOL account rent reclaim feature? That's the one that closes the ATA account and returns your SOL rent. Every token corresponds to an ATA account.
For tokens launched on the OTC platform, if the ATA account for a dividend token isn't opened, the dividend is simply forfeited and won't be paid to you later. That's a huge loss.
How do you solve this? Remember, this isn't only about the OTC launch platform. Any token with dividends requires attention to this issue. Some dividend token launch platforms will automatically open the ATA account for you, but you can't be sure all dividends will be opened automatically. If you don't pay attention, you'll lose a lot of dividends for nothing. Over time, this can add up to the hundreds of U, thousands of U, or even tens of thousands of U I mentioned at the start.
1. Don't claim SOL rent reclaim unless you're done using that SOL wallet address. Otherwise, don't close ATA accounts to claim that SOL. That SOL stays there forever. When you stop using the SOL wallet address, you can claim it all at once anytime. Don't proactively close accounts when there's no need.
2. When you come across a token, first send its CA to GROK and ask whether the token pays dividends, then ask exactly which tokens are paid as dividends. If you've never actively traded the dividend token, spend a small amount (any amount) to buy some. That way, your SOL wallet address opens the ATA account for that dividend token, and you can receive dividends smoothly. Remember, any amount, even 0.0001U, works.
3. You can use another wallet to transfer to the wallet that needs the ATA account opened. For example, if wallet A buys token P, and token P pays dividends in token C, you can first use wallet B to buy a small amount of dividend token C, then transfer token C from wallet B to your wallet A. Wallet A will also open the corresponding ATA account for token C and can receive dividends smoothly.
For point 3, some launch platforms will proactively open the ATA account for you, but with platforms like OTC, your dividends are simply gone. So when you're not sure, it's best to proactively open the ATA account for the dividend token to reduce unnecessary losses.
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