In a display of community support and transparency, LBank, in collaboration with SLERF, has successfully initiated a strategic refund plan for users affected by the SLERF presale issues. The exchanges have demonstrated their commitment to building trust and confidence with their users by prioritizing smaller depositors in the first wave of refunds.
TLDR
- LBank has initiated a strategic refund plan for users affected by the SLERF presale issues, prioritizing smaller depositors in the first wave of refunds.
- The exchange aims to support as many affected users as possible, focusing on financially vulnerable users to maximize community benefit.
- LBank is conducting a test run to ensure the efficiency of the refund mechanism and reduce the risk of complications.
- SLERF and LBank have successfully raised 4,000 SOL in 24 hours through a donation campaign to compensate users affected by operational errors.
- Approximately 3,800 SOL have been refunded so far, with ongoing donations aiding affected users proportionally, and donors set to receive airdrop rewards once the campaign concludes.
LBank Co-Founder Erci He announced the plan to resolve issues for affected users, aiming to support as many individuals as possible given the current funds raised for this purpose. The exchange’s approach focuses on financially vulnerable users, maximizing community benefit and ensuring fairness in the refund process.
I’m pleased to announce we’re starting the first wave of refunds for @Slerfsol presale affected users.
We’re prioritizing those who deposited smaller amounts first, ensuring we help as many as possible with the funds raised so far.
We’ll begin with a test run before…
— Eric He | LBank (@EH_LBank) March 21, 2024
To ensure the efficiency of the refund mechanism and reduce the risk of complications, LBank is conducting a test run before fully implementing the process. This cautious and methodical approach highlights the exchange’s dedication to handling refunds responsibly and effectively.
In a joint effort between SLERF and LBank, a donation campaign was launched, resulting in the collection of nearly 4,000 SOL within just 24 hours. On-chain data reveals that approximately 3,800 SOL have been refunded so far, with priority given to small-scale users who participated in SLERF’s initial fundraising phase.
12 Rough estimated days to restore $Slerf presale users whole. A truly community driven effort. ???????????? #Slerf @GracyBitget @HTX_Global @KuCoinFutures @JupiterExchange @LBank_Exchange @OneDex_X @bitgetglobal @HawksightCo @BingXOfficial pic.twitter.com/2sQYF1KkV5
— LUX Payband (@LuxPayband) March 21, 2024
The donation process is ongoing, and contributors are promised airdrop rewards once the campaign concludes, further incentivizing community support. The specifics of these rewards are yet to be disclosed.
The refund initiative follows operational setbacks that led to the depletion of all LP tokens and airdropped tokens reserved for the project’s fundraising, as well as the forfeiture of access rights, effectively wiping out the project’s liquidity pool containing 50,000 SOL.
To address these challenges, SLERF’s founder has affirmed that the LBank team will collaborate closely with the community to oversee the refund process and ensure the founder’s exclusion from any token-related operations.
