Pay signup referrals on verification

/**
 * Step 1: Decline Signup Referral Payouts
 * First we save the transaction and then decline it since we will
 * payout first when the user has activated their account
 * @version 1.0
 */
add_filter( 'mycred_add', 'mycred_pro_decline_signup_ref', 20, 3 );
function mycred_pro_decline_signup_ref( $reply, $request, $mycred ) {

    // Only applicable for signup referral and if the transaction has not already been decliend
    if ( $request['ref'] != 'signup_referral' || $reply === false || $request['data'] == 'activated' ) return $reply;

    // Get the new users ID
    $pending_user_id = absint( $request['ref_id'] );

    // Save this instance for when a user verifies their account
    update_user_meta( $pending_user_id, 'signup_referral', array(
        'reffering_user_id' => absint( $request['user_id'] ),
        'amount'            => $request['amount'],
        'type'              => $request['type'],
        'log'               => $request['entry']
    ) );

    // Decline
    return false;

}

/**
 * Step 2: Payout on Activation
 * Once a user activates their account by logging in, we
 * payout any pending referral that might exist.
 * @version 1.0
 */
function check_first_login($user_login, $user) {
    $user_info = get_user_meta( $user->ID );
    if ( $user_info["accountactivated"][0]!="accountactivated" ) {
        update_user_meta( $user->ID, 'accountactivated', 'accountactivated' );
        if ( function_exists( 'mycred_add' ) ) {
            $pending_transaction = get_user_meta( $user->ID, 'signup_referral', true );
            if ( $pending_transaction != '' ) {
                // Just to be safe
                $pending_transaction = maybe_unserialize( $pending_transaction );

                // Payout
                mycred_add(
                    'signup_referral',
                    $pending_transaction['reffering_user_id'],
                    $pending_transaction['amount'],
                    $pending_transaction['log'],
                    $user->ID,
                    'activated', // added to prevent our filter from declining this as well
                    $pending_transaction['type']
                );

                // Clean up
                delete_user_meta( $user->ID, 'signup_referral' );
            }
        }
    }
}
add_action('wp_login', 'check_first_login', 1, 2);