Slothana Meme Presale Raises Over $10 Million in 2 Weeks Amid Solana Network Congestion

Slothana Meme Presale Raises Over $10 Million in 2 Weeks Amid Solana Network Congestion

By Chainwire   - min read
Updated 16 May 2024

London, United Kingdom, April 9th, 2024, Chainwire

The newly emerging Solana-based meme coin Slothana ($SLOTH) continues to gain traction and raises over $10 million in thirteen days, becoming one of the biggest ongoing Solana presale. The milestone was reached while the Solana network experienced congestion issues that reduced the overall activity on the chain.

The presale is currently still active and the exchange rate is set at 10,000 $SLOTH token for every SOL token.

Active community and transparent team

With 14,000 followers on X, all the updates on the project are communicated by the team through the official Slothana page.

In order to make its followers feel part of the project, the team launched a survey about listing, asking the community to choose between a DEX only listing or a listing on both a DEX and a CEX.

The survey post gathered over 217,000 views and 5,700 votes with a multiple listing triumphing with 77% of the community picking that option.

On April 2nd, the Slothana team reacted quickly to a temporary domain block buy its ISP. The team rushed to push a copy of the website live on slothana.io which replaced for just a few hours the official domain slothana.com.

On April 5th, after identifying Solana Network’s congestion the team decided to perform a quick conversion of the SOL funds to USDT while also moving them from Solana to Polygon. This ensured funds protection and price stability considering that SOL price dropped over 10% from $189 to $170 on the 5th April.

The team rushed to inform the community on X in this case, too.

Slothana novel “Send to Wallet” presale mechanism

Pioneered by Darkfams through Book of Memes ($BOME), this new trend of raising funds directly through audiences captivated Solana traders during March. Analysts suggest that over $100 million was raised in presales during the month through this unique way of investing.

The Slothana ($SLOTH) presale utilizes a unique way to participate in its fundraising. Instead of the traditional presale route, those looking to get positioned in Slothana are required to send $SOL directly to a wallet address listed on the project’s website. Alternatively, users can utilize the “Lazy Sloth Buying Widget” by connecting their wallet and sending $SOL.

$SLOTH will then be dropped to all wallets sending $SOL following the token’s launch.

It is important to note, as clearly stated on the website and X account, that it is essential to send the funds from a private wallet rather than an exchange wallet.

About Slothana ($SLOTH)

Slothana ($SLOTH) is a newly emerging Solana-based meme coin that seeks to replicate the success of $BOME and $SLERF through a novel presale mechanism.

The project’s meme is highly personable and can speak to a wide range of crypto users.

It depicts a handsome sloth character sitting in his office waiting for his 9-5 shift to end. The sloth is tired of his monotonous job and daydreams of a different life, wanting to end his grind and enter the crypto trading world.

Slothana is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Investing in cryptocurrencies in volatile and dangerous.

 

Contact

Slothana
[email protected]