Solana memecoin Slerfsol (SLERF) has experienced a successful launch thanks to the support of the community, even after its creator accidentally burned over $10 million worth of Solana (SOL) during the presale on March 18.
As of now, SLERF is valued at $0.79, with a market cap of $505 million. It is listed on multiple exchanges. The day before the launch, the creator of SLERF requested donations after mistakenly sending 535,000 SOL from investors to a burn address during the minting process. To compensate the affected users, the creator publicly appealed for donations, and the coin’s wallet address received 3,000 SOL.
On the same day, the cryptocurrency exchange BingX reached out to Slerf with an offer to donate all trading fees generated from buying and selling SLERF on its platform to the project. BingX also announced that it would airdrop future BingX World Debut tokens to addresses that participated in the Slerf private sale but did not receive SLERF tokens. In response, Slerf expressed gratitude to BingX, stating that they were amazed and grateful for their support.
Following suit, Gracy Chen, the managing director of Bitget, announced that the exchange would donate all SLERF trading fees to the SLERF community, specifically helping those who participated in the presale. Chen added that the donation details would be disclosed on a weekly basis. Chinese blockchain personality Justin Sun also pledged that the HTX exchange (formerly Huobi Global) would donate all trading revenue from SLERF to the protocol.
The current memecoin frenzy has drawn comparisons to the Ethereum initial coin offering (ICO) era in 2017, where many crypto projects raised significant funds but failed to deliver on their promises. On March 18, the nonfungible token collection Milady’s novel Solana memecoin attracted 91,486 SOL ($18.7 million) within just two hours of its presale announcement.
In light of these events, there have been discussions regarding whether Slerf’s memecoin launch was a careless mistake or a clever marketing strategy.