Memecoins
Memecoin creator Slerf teases new DAO for token holders
Slerf, a sloth-themed memecoin on Solana, looks set to establish its own decentralized organization to guide its development path.
Memecoin Creator Slerfowho “accidentally” burned nearly $11 million worth of tokens, unveiled the plans establish a community council and a decentralized autonomous organization (DAO) for SLERF and NFT token holders on Solana blockchain.
We are developing a Community Board and a DAO for $SLERF AND @slerfcapital with our NFT holders.
This will allow our community to have more control and decision-making power over one of Solana’s largest memecoins.
Stay tuned, there is still a lot to do before implementation. pic.twitter.com/Vk0LZJs8Xj
— Slerf (@Slerfsol) June 16, 2024
In a post on X on June 16, the memecoin developer said the initiative aims to empower the community by granting “greater control and decision-making power” over the project.
While specific details were not disclosed, the anonymous developer noted that the community board will feature influential figures from both the English and Chinese communities in a move that is expected to foster broader community involvement and governance within the Slerf ecosystem.
Despite the announcement, SLERF is trading 8% lower at $0.28, according to data from CoinMarketCap.
Slerf quickly gained popularity in the crypto community after its anonymous founder burned by mistake nearly $11 million in cash raised in a so-called pre-sale.
The unexpected turn of events did not stop speculators from buying the token, pumping by over 4,000% within a few hours of its commercial debut. In response to the incident, several cryptocurrency exchanges, including HTX, Bitget and BingX, promised contribute to trading commissions to support the Slerf community.