Coin Edition -
- HTXGlobal pledges Slerf trade revenue to offset a 10 million presale blunder.
- SLERF token hits an all-time high of $1.3673 amid a mishap, showing market resilience.
- Slerf vows to refunds in news initiative after costly token error.
In a generous move to counteract a costly error, HTX, the primary trading market for Slerf tokens, has pledged to donate all trading revenues from Slerf transactions to affected investors. This announcement by H.E. Justin Sun, founder of HTX, hints at a relief to those involved in Slerf’s troubled private sale.
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
As per Justin Sun, HTXGlobal is contributing HTX tokens to support fee-free Slerf transaction mining, emphasizing the platform’s focus on prioritizing user interests. The incident prompting this response involved a mishap during the burning of liquidity pool (LP) tokens by the Slerf project’s creator.
The error, which was publicized through a series of apologetic tweets by Slerf, detailed a “mindless misclick” that resulted in the loss of the LP tokens intended for project stability. Despite attempts to correct the initial display issues with the tokens on Sol Incen, the crucial LP tokens were inadvertently destroyed when clearing out a digital wallet.
This is not a joke I really fucked up and im really sorry.Was a simple mindless misclick when I was in the process of burning the the lp.1st try failed:I went to sol incen and the lP tokens didn't show up there so I thought "I'll just clean out the wallet of these others"— Slerf (@Slerfsol) March 18, 2024
In the wake of the mishap, Slerf’s creator claimed to lack funds to refund the 10 million dollars from the presale, leaving investors facing substantial losses. This financial shortfall came despite the team’s extensive efforts over three days to prepare for the launch. Slerf’s creator took to social media, taking full responsibility and issuing an apology to both the presale participants and the team involved in the project.
Further exacerbating the situation was Slerf’s admission of the absence of an immediate fix for the error, implying the possibility of an irremediable financial hit to the presale contributors. However, in a turn of events, Slerf has invited investors to join a new initiative, promising refunds from the first presale to those who participate in this new venture.
Amidst the turmoil, the Slerf Token (SLERF) recorded a remarkable market achievement by hitting an unprecedented all-time high (ATH) price of $1.3673. In the span of just one day, the SLERF token experienced a substantial price increase of 62.78%, which significantly enhanced its market capitalization to an impressive $562.99 million. This achievement placed the SLERF token in the 2378th position among the ranks of cryptocurrencies.
SLERF 1-Day Chart (Source: CoinMarketCap)
The token’s journey began with an opening price of $0.6794. It then dipped to its lowest valuation of the day at $0.3558. Nonetheless, the cost of the Slerf token rapidly rebounded, soaring to its ATH of $1.3673. As of the latest reports, the price of the Slerf token has stabilized at $0.9158, supported by a trading volume of $1.75 billion.
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