Solomon Samuel 
Solana Co-founder Advises Against Sending Funds During Presales
Amid concerns over the reliability of presale projects in the Solana community, a solana co-founder has warned against participation.
Among the members of the Solana community, a co-founder has taken courageous action by sounding the alarm and advising against participating in presale activities.
This warning, stemming from significant concerns over the reliability and safety of such projects, urges users to take immediate action.
ZachXBT’s recent research reveals that 27 presale events have raised an astounding $122.5 million since March 12th. These disclosures have exposed the widespread existence of dubious initiatives and obvious scams within the Solana ecosystem.
Furthermore, industry experts echo the cautionary tone, drawing comparisons between the current token presales and the stormy days of initial coin offerings (ICOs), when investors faced huge risks and losses.
In response to the growing concerns, the renowned cryptocurrency exchange HTX has announced a preventative measure that it will implement in conjunction with Smolecoin.
The fact that they are offering reimbursements to users impacted by the turbulent presale events demonstrates their dedication to safeguarding investor interests.
In addition, Dexter, the founder of another project involving the Solana meme coin, has committed to implementing effective risk-mitigation techniques and issuing refunds.
The aforementioned responses highlight the significance of taking prompt action to reduce the dangers associated with investments in meme coins and to guarantee the preservation of the cash that investors have worked so hard to earn.
Impact on Meme Coin Trading and Solana Fee Capture
These presale events have caused a backlash that has echoed throughout the meme currency landscape, which has resulted in considerable drops in the values of popular tokens such as PEPE, WIF, FLOKI, and BONK.
As a result of the volatility, however, Solana’s fee capture has increased to the point that it has surpassed even Bitcoin’s. The thriving on-chain trade of meme coins is responsible for this spike, with Solana consistently earning daily fees exceeding $3 million for three consecutive days, setting unprecedented records.
However, the disappointment that the Slerf project has experienced has diminished the enthusiasm that was once present. Unforeseen events during the project’s development have dealt investors in Slerf who participated in the presale a severe blow, with losses surpassing ten million dollars.
