Slerf’s donation campaign raised over $500,000 in SOL within 12 hours to help those affected by the presale issue. Crypto exchanges HTX (formerly Huobi), Bitget, and BingX pledged to donate trading fees to support the Slerf community.
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This follows an incident where the meme coin’s anonymous developer accidentally burned $10 million in presale funds. Despite the setback, market speculators increased the token’s value by over 5,000%, pushing its price above $1.
Support Initiatives for SLERF Community by Crypto Exchanges
In a significant announcement on March 19, cryptocurrency tycoon Justin Sun unveiled HTX’s initiative to direct trading fees to individuals who participated in the private sale on HTX. Moreover, HTX plans to allocate HTX tokens for SLERF’s trading fee mining, aiming to benefit users on its platform.
As No.1 trading markets for @Slerfsol, HTX have decided to donate all Slerf trading revenue on @HTX_Global and allocate it to everyone who participated in private sale on HTX, as well as donate some #HTX for Slerf’s trading fee mining on https://t.co/y7nJ0Tgrcj! User first！
— H.E. Justin Sun 孙宇晨 (@justinsuntron) March 19, 2024
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Bitget’s managing director, Gracy Chen, echoed support by declaring that Bitget would dedicate all SLERF trading fees to assist the community, with a focus on aiding those involved in the presale. Chen pledged to provide detailed donation updates on a weekly basis.
Similarly, BingX from Singapore announced its decision to contribute trading fees from users’ SLERF spot trades and distribute future BingX Global Debut tokens to addresses that participated in the Slerf private sale but did not acquire tokens.
Also Read: Litecoin (LTC) Price Surges 40%: What's Next?
Conversely, MEXC, despite being an early lister of SLERF on its centralized trading platform, has yet to announce any plans to assist the Slerf community.
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Accumulated Support for SLERF Project
The dedicated donation address for SLERF has amassed 2,600 SOL, valued at about $500,000, along with additional SPL tokens worth approximately $16,000. These funds will offer much-needed assistance to the project and its supporters, alleviating the adverse effects of the token loss.
Challenges Faced by Pre-Sale Investors in SLERF Project
Investors who participated in the pre-sale encountered uncertainty upon discovering that the project’s anonymous developer accidentally burnt $10 million worth of tokens raised from presale investors. This revelation led to dismay and skepticism among backers, raising doubts about the future viability of the meme coin.
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Subsequently, it emerged that the developer had purportedly pledged $200,000 in SOL tokens to the project before unintentionally burning the funds. The loss of significant tokens intensified disappointment and skepticism among investors, further undermining confidence in SLERF’s prospects.
Exchanges List SLERF Despite Challenges
Despite these setbacks, several major exchanges have listed the token, including HTX (formerly Huobi) and Bitget. Bybit has also engaged the community through social media, seeking input on whether to list the SLERF token.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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