The Slerf project has to start from March 2024. At that time, the market was being hyped up by a project called BOME. Everyone was envious of the pre-sale plus fair launch model. Slerf was born at this time. It is a MEME Coin created by grumpy@youlovegrumpy on Solana, and the protagonist is a cute sloth.
Slerf's gameplay is quite novel. It said that half of the tokens would be pre-sold, and the pre-sale money and the other half of the tokens would be thrown into DEX for liquidity, and then this part of the money would be no longer managed. During the pre-sale, everyone was quite crazy. At about $0.02 per coin, 10 million SOL was raised in one go. However, on the day of TGE, the developer slipped and abandoned the coin-minting right first. The pre-sale coins have not been issued yet, and the pre-sale users have not received them. The money is still locked in the liquidity pool and cannot be withdrawn.
This is equivalent to picking up a $0.02 worth of tokens for free. This means that as long as you enter early, your cost is the lowest. At this moment, everyone panicked, fearing to miss the opportunity, and the price of Slerf rose 60 times at the opening.
Then, Slerf started to organize donation compensation activities, and the whole process should be quite fair. In addition, Slerf also sold new NFTs to raise money to repay debts, raising 36,180 Sols in total.
By September 9, 2024, the official said that 25,194 addresses had been repaid, with a total of 40,940 SOLs, but there were still 250 addresses, with a total of 12,437 SOLs that had not been repaid, and each address still owed an average of 60 SOLs. It seems that they are the small participants who paid first, but in this way, it will become increasingly difficult for large participants to claim compensation.
The official team was silent for a long time, and finally issued a statement saying that they have been working hard. But the community does not buy it, saying that the founder Grumpy launched a new MEME or encryption project, and used Slerf's influence to promote it, but the money earned was not used to compensate and build Slerf, which is a betrayal.
MEME Coin has a short market lifespan, but it has strong explosive power. Like Slerf, it became popular once it made a mistake, and the price soared 60 times, but it may also be cold soon. The community is powerful. Opinion leaders like BillyWen can drive the sentiment and price of the entire community with one move. The pre-sale and fair launch model is attractive, but it is also risky. Like Slerf, once the developer makes a mistake, it may cause the entire project to collapse.
