In the aftermath of a devastating mishap earlier this week, Solana-based meme coin venture Slerf has introduced plans to increase a compensation to affected presale traders. The incident, which resulted in losses exceeding $10 million for contributors in Slerf’s presale, stemmed from an unlucky accident attributed to the venture’s developer.
Solana Meme Coin Slerf To Provide NFTs
In a bid to deal with the issues of impacted traders, the Slerf community took to social media platform X to stipulate their remedial measures. “We’re planning to drop Soul-bound NFTs to the wallet addresses of affected presalers as well as refund contributors,” they said.
The publish added, “This will allow for other projects to airdrop them tokens or NFTs easily as well as have a nice piece of memorabilia for their legendary part in $SLERF HISTORY.” However, earlier, the neighborhood accused the Solana meme coin venture of participating in a Ponzi scheme because of the mishap. Nonetheless, the newest transfer has subsided such speculations.
The developer behind the venture lately made a candid confession on X. He revealed a catastrophic error involving the unintended burning of a good portion of the token provide. This consists of property allotted for liquidity provision (LP) and the distribution of airdrops throughout the Slerf ecosystem.
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What Exactly Happened?
The Solana meme coin, Slerf, presale had amassed over 50,000 SOL price $10.8 million and the complete quantity was misplaced. The developer disclosed that LP tokens and the complete reserve of 500 million SLERF tokens earmarked for the airdrop had been mistakenly burned. Compounding the problem, the revocation of minting rights has rendered makes an attempt to get better the losses futile.
Despite efforts to deal with the scenario, the lack to mint new tokens left pre-sale traders with no answer for reclaiming their investments. Hence, whether or not by means of token distribution or Solana refunds. In an effort to supply transparency and tackle neighborhood issues, the Slerf team initiated a session on X Spaces.
During the session, the Solana meme coin’s staff member Slorg expressed deep dismay and admitted to feeling bodily unwell because of the circumstances. “I’m at a loss for words,” they lamented, conveying uncertainty concerning the path ahead.
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