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In the aftermath of a devastating mishap earlier this week, Solana-based meme coin undertaking Slerf has introduced plans to increase a compensation to affected presale traders. The incident, which resulted in losses exceeding $10 million for contributors in Slerf’s presale, stemmed from an unlucky accident attributed to the undertaking’s developer.

Solana Meme Coin Slerf To Provide NFTs

In a bid to deal with the considerations of impacted traders, the Slerf community took to social media platform X to stipulate their remedial measures. “We’re planning to drop Soul-bound NFTs to the wallet addresses of affected presalers as well as refund contributors,” they acknowledged.

The put up added, “This will allow for other projects to airdrop them tokens or NFTs easily as well as have a nice piece of memorabilia for their legendary part in $SLERF HISTORY.” However, earlier, the neighborhood accused the Solana meme coin undertaking of partaking in a Ponzi scheme because of the mishap. Nonetheless, the newest transfer has subsided such speculations.

The developer behind the undertaking not too long ago made a candid confession on X. He revealed a catastrophic error involving the unintentional burning of a good portion of the token provide. This contains belongings allotted for liquidity provision (LP) and the distribution of airdrops inside the Slerf ecosystem.

Also Read: Solana’s 68% Monthly Gain Tests Correction Waters

What Exactly Happened?

The Solana meme coin, Slerf, presale had amassed over 50,000 SOL value $10.8 million and the complete quantity was misplaced. The developer disclosed that LP tokens and the complete reserve of 500 million SLERF tokens earmarked for the airdrop have been mistakenly burned. Compounding the problem, the revocation of minting rights has rendered makes an attempt to recuperate the losses futile.

Despite efforts to deal with the scenario, the lack to mint new tokens left pre-sale traders with out a resolution for reclaiming their investments. Hence, whether or not by token distribution or Solana refunds. In an effort to supply transparency and deal with neighborhood considerations, the Slerf team initiated a session on X Spaces.

During the session, the Solana meme coin’s staff member Slorg expressed deep dismay and admitted to feeling bodily unwell because of the circumstances. “I’m at a loss for words,” they lamented, conveying uncertainty concerning the path ahead.

Also Read: Top 3 Solana Memecoin With 100X Potential

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