Solana memecoin Slerfsol recovers after $10M token burn fiasco
Thanks to community support, Solana memecoin Slerfsol (SLERF) has successfully launched after its creator mistakenly burned more than $10 million worth of Solana (SOL) from investors during the March 18 presale.
At the time of publication, SLERF has a total market capitalization of $505 million and is listed on multiple exchanges at $0.79. A day earlier, the eponymous creator asked for donations after an error occurred when 535,000 investors SOL was sent to burned addresses during the creation of SLERF. The coin wallet address has received 3,000 SOL and the creator has officially requested donations to complete the users.
That same day, cryptocurrency exchange BingX reached out to Slerf on X, offering to donate trading fees from buying and selling SLERF on the platform to the project itself. BingX also said that “future BingX World Debut tokens will be downloaded to addresses that participated in Slerf's private sale but did not receive $SLERF tokens.” In response, Slerf wrote: [BingX]. I'm shaking. This is so crazy. You guys are amazing. “
Later, Bitget Managing Director Gracie Chen said the exchange “will donate all SLERF trading fees on Bitget to the SLERF community, helping those who participate in the pre-sale,” adding that donation details will be revealed weekly. Wagmi” Meanwhile, Chinese blockchain personality Justin Sun added that the HTX exchange, formerly Huobi Global, will donate all trading revenue from SLERF to the protocol.
“HTX has decided to donate all Slerf trading revenue on @HTX_Global and allocate it to everyone who participated in private sales on HTX and to give some HTX to Slerf trading fee mining on HTX. User first.”
The ongoing memecoin frenzy started in 2018. It has drawn comparisons to Ethereum's initial coin offering (ICO) era in 2017, when several crypto projects raised millions of dollars, but many failed to deliver. In the year On March 18, the vanity token collection Milady Solana memecoin attracted 91,486 SOL ($18.7 million) within two hours of its presale announcement.
Related: Slerf's memecoin launch: ‘Mindless' script or trading scenario?
