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A new Solana-based memecoin, Slerf, has faced significant challenges after the project's developer accidentally burnt a major portion of the token supply - effectively losing $10 million, or the entirety, of presale participants' money. "Guys I f-ed up," the project's official X account wrote. "I burned the LP and the tokens that were set aside for the airdrop. Mint authority is already revoked so I can not mint them. There is nothing I can do to fix this. I am so f-ing sorry." The Slerf team later went to an X Spaces to elaborate further on the situation. "I'm sick to my stomach," team member Slorg said in a Space on X. "I'm literally about to throw up." "I'm lost for words," they added. "I don't know what to do." Poor Slorg. Basically the way crypto works is that a guy named Slorg makes up a token named Slerf, which is distinguished from other tokens by having a cartoon sloth logo. You send $10 million of Solana crypto tokens to Slorg, and he makes a note to himself that he owes you some Slerfs. Then he accidentally flushes that note down the toilet and, due to the irreversible nature of the blockchain, you get no Slerfs and your money is permanently gone, though Slorg is very sorry.

Slorg Is Not On The Slerf Team


Uploaded by sakshi Mar 20, 2024 at 10:26AM EDT

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Origin Entry: Slerf Coin

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Slerf Coin - Slorg Is Not On The Slerf Team

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Uploaded Mar 20, 2024 at 10:26AM EDT

Origin Entry

Slerf Coin

Source

Bloomberg

Tags

slorg, slorgoftheslugs, meme coin, crypto, bloomberg, slerf, slerf coin, slerf lp burn, slerf 10 million

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