UPDATED: March 18, 2024, 4:46 p.m. EDT
A new Solana-based memecoin, Slerf, has faced significant challenges after the project’s developer accidentally burned a large portion of the token supply, losing $10 million, or the entirety of the tokens’ money. presale participants.
“Guys, I f—ed up”, the official X account of the project wrote. “I burned the LP and tokens that were reserved for the drop. The minting authority is already revoked, so I can’t mint them. There’s nothing I can do to fix this. I’m really sorry.”
The Slerf team then went to an X Spaces to investigate the situation further. “My stomach hurts,” developer @Slerfsol said in a space on X. “I’m literally about to throw up.”
“I’m at a loss for words,” they added. “I do not know what to do.”
After the developer called Project Slerf a “side quest,” a Spaces participant chimed in: “Losing $10 million on a side quest is crazy. »
The price of SLERF has pumped about 242% Over the past hour, following the news, various X Space attendees have claimed that the best solution moving forward is to “send it to $1 billion.” According to on-chain data Underlines by Lookonchain, a trader made over $3 million in 12 minutes trading SLERF.
The latest incident follows a weekend packed with Solana-based memecoin presales, during which various random projects emerged and received significant funding, often amounting to millions of dollars.
This article has been updated with additional information. Additionally, because multiple X accounts were speaking simultaneously and due to the nature of X’s user interface, this article incorrectly attributed quotes to user @SlorgofteSlugs instead of @Slerfsol.
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