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SLERF

$SLERF
SLERF (SLERF)
SLERF
Ticker$SLERF
BlockchainSolana
Launch DateMarch 17, 2024
Launch PlatformPresale
ATH Market Cap$750 million
ATH Price$1.40
Current Market Cap~$15 million
Total Supply500,000,000 SLERF
Creator@Slerfsol
StatusGraduated
Categories
Animal Meme Disaster
ExchangesRaydium, Jupiter, MEXC, Gate

SLERF is a sloth-themed Solana memecoin that became famous for one of the most spectacular accidents in crypto history: the developer accidentally burned $10 million of presale funds along with all airdrop tokens. Against all odds, the token pumped 2,900% after the disaster, and the developer eventually refunded all participants 19 months later.

The Redemption Arc: What started as a catastrophic mistake became a story of community resilience and developer integrity. The dev eventually refunded $10.3M to 25,444 wallets.
Contents
  1. The Presale
  2. The Accident
  3. The Aftermath
  4. The Refund

The Presale

SLERF was announced as a sloth-themed memecoin with a presale in March 2024. The presale was highly successful, raising approximately $10 million from eager investors looking to get in early on what they hoped would be the next big Solana memecoin.

Tokens were allocated for:

  • Presale participants
  • Liquidity pool (LP)
  • Community airdrop

The Accident

On March 17, 2024, the developer (known as @Slerfsol on X) made a catastrophic mistake:

"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."
— @Slerfsol on X

What Happened

  1. The developer attempted to burn LP tokens using Solana tools (Vercel)
  2. The transaction was unsuccessful because tokens didn't appear on the website
  3. They moved to another tool (Incen) to "clear the shitcoins"
  4. Accidentally cleared the entire wallet, burning everything
What was lost: The LP tokens, all airdrop tokens, and effectively $10 million worth of value that was supposed to go to presale participants.

The Aftermath

What happened next defied all conventional wisdom:

Instead of Dying, It Pumped

  • Price surge: SLERF pumped over 2,900% in 24 hours
  • Volume record: Generated $2.5 billion in daily trading volume on Raydium
  • Highest volume pair: Became the highest volume trading pair on all of Solana
  • ATH: Reached $1.40 per token, from initial value near $0.03

Why It Pumped

  • Meme value: The disaster itself became a meme
  • Scarcity: Burned tokens created artificial scarcity
  • Sympathy: Community rallied around the apologetic developer
  • Viral story: The accident made headlines across crypto media

Community Response

Exchanges stepped up to help. BingX offered to donate all trading fees from SLERF to the project. The crypto community largely viewed the incident as a genuine mistake rather than malicious intent.

The Refund

In a remarkable conclusion to the story, 19 months after the incident:

"The Slerf dev has finally refunded every pre-sale participant in Solana tokens."
— Decrypt, October 2025

The Numbers

  • Total refunded: 53,359.62 SOL (~$10.3 million)
  • Wallets refunded: 25,444 participants
  • Source of funds: Donations + trading fee revenue

The developer had spent over a year and a half collecting donations and revenue from trading fees to make participants whole again - a rare example of accountability in the memecoin space.

Legacy

SLERF became a legendary story in crypto lore, demonstrating:

  • The unpredictable nature of memecoin markets
  • The power of authentic community response
  • That disasters can become rallying points
  • Developer integrity matters (eventual refund)

See Also