The dramatic scene of SLERF’s token issuance: the founder mistakenly destroyed LP and airdropped tokens, but investors went crazy!

Last weekend, the Meme project Bome on Solana skyrocketed and triggered the "payment pre-sale" model. Among them, the Meme named "SLERF" raised more than 50,000 tokens SOL, worth more than 10 million US dollars, but SLERF However, today it stated that it mistakenly destroyed the fundraising LP Token and airdrop tokens. Who would have thought that the token destruction incident would become the fuel for the market pull, and the SLERF token would skyrocket after being "deflated by destruction".

SLERF founder @Slerfsol admitted on the X platform that due to his own operational errors, the project's LP Token and the tokens used for airdrops were accidentally destroyed after adding initial liquidity. He stated that no remedial measures could be taken as the token minting rights had been removed.

At the same time, he also revealed that the biggest problem with SLERF at present is that it does not have sufficient funds to refund pre-sale users. "This is not a joke, I really messed up, I'm very sorry... The biggest problem now is that I don't have 10 million US dollars to refund pre-sale users. I have been preparing for 3 days, but I made a mistake at the finish line. I'm sorry to those involved in the pre-sale, and I'm sorry to my team who have helped me over the past 3 days. At the moment I don't see a way to fix it, and don't even think it's possible."

Although investors participating in the pre-sale suffered losses due to operational errors by the project team, this incident triggered panic in the market. Some community members believe that this is the largest fair issuance in history, because the tokens of large investors and project parties are returned, thus putting everyone on the same starting line.

Affected by this, the SLERF token surged, with the price rapidly rising from $0.02 to $1.2 within 2 hours, an increase of 60 times, and the on-chain transaction volume within 4 hours More than $1.1 billion. Various exchanges also acted quickly. HTX, MEXC, Bitget and XT.COM all announced that they would list SLERF about 2 hours after the token went online.

According to previous SLERF fundraising information, 50% of it was used for pre-sale and the rest was used for the LP pool. Based on the token’s peak price of $1.99, the total value of the tokens destroyed may exceed $990 million.

In this craze, many whales are buying and making millions of dollars in profits. For example, according to Lookonchain monitoring, a trader made approximately $3.02 million by trading $SLERF in 12 minutes. The trader bought 69.74 million $SLERF for 9,894 SOL (about 1.98 million U.S. dollars) immediately after the trading opened, and then sold it for 25,001 SOL (about 5 million U.S. dollars) within 12 minutes, thereby creating a short-term In just 12 minutes, 15,107 SOL (approximately US$3.02 million) was earned; another whale holding 158,786 SOL (approximately US$32 million) spent 3,024 SOL (approximately US$606,000) at US$0.35 The average price purchased was 1.7 million SLERF; according to 0xScope monitoring, a whale just spent 19,752 SOL (approximately 4 million US dollars) to purchase 3.4 million SLERF in 2 transactions, with an average price of 1.19 US dollars.

However, StarkNet Lianchuang Tobby Kitty said, "I don't know the latest situation, but the Raydium contract can be upgraded through multi-signing. If you send LP tokens directly there, Raydium can transfer them back." But then X user ghazzog replied: "The destruction of SLERF follows the destruction process of Sol Incenator, not the Raydium contract." Tobby Kitty replied: "Then there is no way." Affected by this statement, SLERF once briefly It fell below $0.6 before rebounding. PANews will continue to pay attention to how SLERF will develop next.

Although the authenticity of the "misoperation" by the founder of SLERF is not yet known, this performance art may attract a large number of imitators. PANews reminds that MEME assets have huge volatility, investors should operate with caution, DYOR.

The above is the detailed content of The dramatic scene of SLERF’s token issuance: the founder mistakenly destroyed LP and airdropped tokens, but investors went crazy!. For more information, please follow other related articles on the PHP Chinese website!