Crypto News – The Slerf memecoin creator made a disastrous launch today, burning the 500 million tokens allotted to pre-sale participants as well as the liquidity pool.
500 Million Tokens Accidentally Burned in Unfortunate Slerf Launch
The pre-sale of the project was successful, raising over $10 million. The project, one of the many Solana-based meme coins, managed to bring millions of cryptocurrency enthusiasts together over the weekend. A memecoin named Smole was pre-selling at the time, and an unidentified NFT artist named Dekadente raised almost $30 million in SOL. For their memecoin, NAP, another NFT artist by the name of Kero earned almost $10 million.
Some Analysts See the Pre-Sale as a Ponzi Scam
Typically, pre-sale participants receive a weighted distribution of tokens at token launch in exchange for transferring cryptocurrency to a specified wallet address. Token allocation is not certain, though, by taking part in a pre-sale.
Pre-sales became quite popular after The Book of Meme (BOME) currency was an unexpected success and saw a staggering 1,000% value growth. Significant listings on other exchanges, including Binance, resulted from this rise. Ethereum specialist Anthony Sassano called the pre-sale strategy a “bidding ponzis,” despite its seeming success.
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