Solana memecoin Slerfsol (SLERF) has experienced a relatively successful launch thanks to the support of the community, despite its creator accidentally burning over $10 million worth of Solana (SOL) during the presale on March 18.
As of now, SLERF is valued at $0.79, with a total market capitalization of $505 million. It is also listed on multiple exchanges. The day before, the creator of SLERF had requested donations after mistakenly sending 535,000 SOL from investors to a burn address during the minting process of SLERF. To compensate users, the creator publicly appealed for donations, and the coin’s wallet address has received 3,000 SOL.
On the same day, cryptocurrency exchange BingX approached Slerf on X and offered to donate all trading fees generated from buying and selling SLERF on its platform to the project. BingX also announced plans to 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, stating, “Thank you so much, BingX. I’m overwhelmed. This is unbelievable. You guys are incredible.”
Following suit, Gracy Chen, the managing director of Bitget, pledged to donate all SLERF trading fees on Bitget to the SLERF community, specifically assisting those who participated in the presale. Chen also mentioned that the donation details would be disclosed weekly and concluded with the acronym WAGMI. Additionally, Chinese blockchain personality Justin Sun announced that the HTX exchange, formerly known as Huobi Global, would also contribute all trading revenue from SLERF to the protocol.
The current frenzy surrounding memecoins has drawn comparisons to the initial coin offering (ICO) era of Ethereum in 2017, where numerous crypto projects raised millions of dollars, but many failed to deliver. On March 18, Milady’s novel Solana memecoin, a non-fungible token collection, managed to attract 91,486 SOL ($18.7 million) within just two hours of its presale announcement.
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Slerf’s memecoin launch: Was it a careless mistake or a clever marketing tactic?