Sloth-themed memecoin Slerf, causing waves on the Solana blockchain, is ready to set up its own distributed company to direct its next evolution.
After making headlines for “accidentally” burning around $11 million worth of tokens, the Slerf memecoin developer has disclosed intentions to establish a community board and a distributed autonomous organization (DAO) for SLERF tokens and NFT holders. The anonymous developer underlined on an X post on June 16 the endeavor’s aim— empowering the community by giving them “more control and decision-making power” over the project.
Although particular information regarding the DAO was not revealed, the developer said that prominent members from English and Chinese communities will be part of the community board. This calculated action is expected to improve Slerf ecosystem community involvement and governance.
Slerf’s Market Performance And Community Support
Though the announcement is interesting, SLERF’s market performance has not been very good. According to CoinMarketCap data, the coin is currently trading down 8% at $0.28.
The accidental burning of around $11 million worth of liquidity generated during a presale by Slerf’s founder explains her quick ascent to prominence within the crypto world.
Rather than discouraging interest, this incident set off a frenzy among speculators, who drove the token’s price up by more than 4,000% in a few hours after it started trading. After this episode, numerous cryptocurrency exchanges—including HTX, Bitget, and BingX—pledged to donate trading fees to assist the Slerf community.
Reflecting larger trends in the Bitcoin sector, adding a DAO marks a significant step towards more decentralized and community-driven governance as the Slerf ecosystem develops.
