Huobi HTX decides to donate all SLERF trading revenue, SLERF founder posts to express gratitude for HTX's market leadership and vision
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Huobi HTX decides to donate all SLERF trading revenue, SLERF founder posts to express gratitude for HTX's market leadership and vision
As an industry pioneer, Huobi HTX bravely assumes its industry responsibilities, protecting the still-fragile MEME ecosystem.
Navigating Web3 tides with focused insightsFollowing the incident where the legendary meme coin SLERF lost its minting rights, Huobi HTX and Justin Sun have joined efforts to rescue SLERF, prompting broader industry participation in the recovery effort. As an industry pioneer, Huobi HTX has proactively shouldered its responsibilities, helping protect the still-fragile meme ecosystem.
On March 19, according to Coinmarketcap data, SLERF's market capitalization reached $645 million, surpassing BOME’s $513 million to become the seventh-largest meme coin. The Solana meme spring fever has spread from BOME to SLERF, making SLERF the hottest meme coin on the Solana chain. Huobi HTX was the first exchange to list both BOME and SLERF. Since listing, SLERF has surged nearly 8x with a 24-hour trading volume approaching $140 million, establishing Huobi HTX as the leading trading market for Solana memes.
Huobi HTX Announces Detailed Plan for Donation of SLERF Trading Fees
As the largest trading platform for SLERF tokens, Huobi HTX is committed to user-first principles and will actively promote the development of the SLERF ecosystem.
Huobi HTX has decided to distribute all spot trading fees generated from SLERF token transactions over one quarter in the form of HTX tokens to participants in the SLERF private sale, while also donating a portion of HTX tokens to cover SLERF’s transaction mining costs. In response, the SLERF founder expressed sincere gratitude.
According to an official announcement from Huobi HTX, starting from March 18, 2024, at 17:40 (GMT+8), Huobi HTX will begin donating all SLERF spot trading fee revenues collected on its platform. The donation period is divided into two phases:
Phase One: March 18, 2024, 17:40 – March 24, 2024, 24:00 (UTC+8)
Phase Two: March 25, 2024, 00:00 – June 18, 2024, 24:00 (UTC+8)
All users who participated in the SLERF private sale can fill out the claim form. Eligible users will receive distributions proportional to their contribution during the private sale. To claim, users must link their private sale wallet address with their Huobi HTX UID. Additionally, during the campaign period, users must make any deposit from their private sale address to the corresponding Huobi UID to verify identity legitimacy, ensuring fairness and transparency throughout the donation process.
SLERF Becomes a Meme Coin Legend, Creating a Moving Moment in Crypto History Through Interaction With Huobi HTX
On the afternoon of March 19, SLERF founder Slerf, along with Justin Sun and Huobi HTX, participated in a Twitter Space live session titled "$SLERF Let’s Make History pt.2".
By reviewing the timeline of SLERF’s rise, media outlets have summarized it as a classic "accidental rug pull" within this meme coin cycle.
- On the morning of March 17, Slerf posted a fundraising tweet.
- Within nearly 13 hours, the fundraiser raised over 50,000 SOL, reaching maximum capacity.
- Slerf stated that 50% of the funds would go toward presale distribution and 50% into the liquidity pool—a standard approach compared to previous meme projects.
- On March 18, SLERF founder @Slerfsol announced on X: “Due to a mistake, I accidentally burned the LP and airdrop reserve tokens, and the minting authority has been revoked. I am powerless.”
- @Slerfsol followed up with another post: “This isn’t a joke. I truly messed up, and I’m very sorry… Right now, my biggest problem is that I don’t have $10 million to refund presale participants. I prepared for three days only to fail at the finish line. I'm deeply sorry to those who joined the presale, and I let down my team, who supported me these past three days. I currently see no way to fix this, and I don’t even believe it’s possible.”
- @Slerfsol opened a Space on Twitter, tearfully apologizing to the community.
Initially, many believed the Slerf project was doomed. However, a remarkable turn occurred—though users didn’t receive their promised 50% allocation, they were moved by founder @Slerfsol’s apparent "anti-whale" actions, sparking a buying frenzy. The token surged dramatically as the founder wept during the live Space.
After a day of speculation, rumors emerged suggesting the mistakenly burned LP could be recovered, causing Slerf to plummet. But after confirmation that the LP would not be restored, Slerf rebounded sharply. Amidst waves of market FOMO, Slerf’s market cap continued to expand, ultimately securing its position as the seventh-largest meme coin.
“Making Huobi HTX a true people’s exchange” — this visionary goal is becoming reality. Since its inception, Huobi HTX has remained committed to maintaining fairness, transparency, and stability in the digital asset market, consistently exploring innovative governance models.
During a recent livestream discussing exchange operations, Justin Sun said, “Only the community is the true user base of an exchange; only through democratic self-governance and continuous innovation can we meet the rapidly evolving demands of this fast-moving industry; only decentralization aligns with our original vision and ultimate purpose in entering the blockchain space. I hope Huobi HTX can evolve into a genuine people’s exchange—where every user becomes a true owner of the platform.”
Huobi HTX’s swift response to the Solana meme spring reflects its attentiveness to community voices and focus on creating wealth effects. Over the past six months, Huobi HTX has demonstrated strong performance, listing multiple high-return assets such as WLD (up 54x), SEI (up 178x), SUI (up 206x), and PEPE (up to 1,999x). Generating wealth effects will remain a core strategic direction for Huobi HTX—the people’s exchange—as it moves forward.
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