Editing Slerf

**Slerf** (ticker **SLERF**) is a sloth-themed [[Solana]] memecoin whose pseudonymous developer, known as Grumpy, accidentally burned the tokens meant for presale buyers on launch day in March 2024. The token traded billions of dollars anyway, and in October 2025 the developer completed refunds of about $10.3 million to presale participants.[^1][^4]

## Lore
Slerf ran a presale in March 2024 during the wave of Solana [[Memecoin presale|presales]] that followed [[Book of Meme]]. Buyers sent SOL to an address posted by the project's X account; the presale collected 54,583 SOL, about $10 million.[^1][^2]

### The burn
On 18 March 2024 the developer burned the liquidity-pool tokens and the tokens set aside for the presale airdrop. Mint authority had already been revoked, so replacement tokens could not be created.[^1][^3] The project account wrote that there was "nothing I can do to fix this", and the developer, who called the project a "side quest", spent hours discussing the mistake in X Spaces.[^1][^3]

### Trading
SLERF did about $2 billion in volume on [[DEX Screener]] in its first 12 hours and had about 74,000 holders.[^1] By 19 March its [[Raydium]] volume passed $7.1 billion, about 7.5% of Raydium's all-time volume, and it was listed on KuCoin, HTX and LBank.[^2] According to DEX Screener data cited by Decrypt, its market capitalisation peaked at about $740 million.[^4]

### Refunds and migration
HTX said it would put all fees from its SLERF market toward repaying presale buyers.[^2] In September 2025 Slerf moved to a new token contract to increase total supply, swapping each old token for two new ones; KuCoin took its snapshot on 29 September 2025.[^5][^4] In October 2025 Grumpy sent 53,359.62 SOL (about $10.3 million) to 25,444 wallets, an in-kind refund of every presale participant, funded by donations and trading-fee revenue.[^4]

## Timeline
- 2024-03: presale collects 54,583 SOL
- 2024-03-18: Raydium SLERF/SOL pool created; LP and airdrop tokens burned
- 2024-03-19: Raydium volume passes $7.1 billion; listed on KuCoin, HTX and LBank
- 2025-09-25: KuCoin announces support for a 1:2 contract swap
- 2025-09-29: KuCoin swap snapshot
- 2025-10: refunds of 53,359.62 SOL to 25,444 presale wallets completed

## Controversies
The burn left presale buyers without tokens for 19 months.[^4] It came during a week in which Solana presales raised more than 796,000 SOL, and Solana co-founder Anatoly Yakovenko publicly urged people to stop running them.[^6]

## See also
- [[cat in a dogs world]]

## References
1. [Solana Meme Coin Slerf Racks Up $2 Billion in Volume Despite Dev Burning Presale Funds](https://decrypt.co/222207/solana-meme-coin-slerf-racks-up-2-billion-in-volume-despite-dev-burning-presale-funds), Decrypt, 2024-03-18
2. [Despite a huge developer error, memecoin SLERF's volume surges to over $7bn](https://www.dlnews.com/articles/defi/sierfs-volume-surges-despite-developers-error/), DL News, 2024-03-19
3. [Solana memecoin Slerf accidentally burns $10 million worth of funds raised from presale investors](https://www.theblock.co/post/283025/solana-memecoin-slerf-burn), The Block, 2024-03-18
4. ['Oh Fuck': Solana Meme Coin Refunds Investors—A Year After Accidentally Burning $10 Million](https://decrypt.co/345284/solana-meme-coin-slerf-refunds-investors-year-after-burning-10-million), Decrypt, 2025-10-21
5. [KuCoin Will Support the Contract Swap of SLERF (SLERF)](https://www.kucoin.com/announcement/en-kucoin-will-support-the-contract-swap-of-slerf-slerf), KuCoin, 2025-09-25
6. [Solana Presales Raise $140 Million Across 33 Campaigns](https://forklog.com/en/?p=11808), ForkLog, 2024-03-20
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