The Solana memecoin Slerf, which has a sloth motif seems to be planning to create a decentralized organization to direct its development.
The developer of Memecoin, Slerf, revealed plans to create a community board and a decentralized autonomous organization (DAO) for holders of NFT and the SLERF token on the Solana blockchain. Slerf “accidentally” burnt about $11 million worth of tokens.
The memecoin developer stated in an X post on June 16 that the initiative’s goal is to give the community “more control and decision-making power” over the project.
The anonymous developer mentioned that the community board would include well-known members of the English and Chinese communities, though no specifics were given.
This is anticipated to promote greater community involvement and governance within the Slerf ecosystem. According to CoinMarketCap data, SLERF is down 8% at $0.28 despite the announcement.
After its mysterious founder inadvertently burnt around $11 million worth of liquidity obtained in a so-called presale, Slerf swiftly earned notoriety in the cryptocurrency industry.
The unexpected development did not deter investors from buying the token, which saw a surge of almost 4,000% in just a few hours following its introduction to trade.
Following the incident, a number of cryptocurrency exchanges promised to support the Slerf community by donating trading fees, including HTX, Bitget, and BingX.
