PAIN Memecoin Presale Raises $38M, Plans 80% Refund to Investors

• PAIN memecoin raises 185,976 SOL (~$38 million) in a 48-hour presale.
• The team plans to refund 80% of the funds to investors.
• Remaining 20% allocated for liquidity, launch costs, and potential listing fees.

The PAIN memecoin, inspired by the “Hide the Pain Harold” meme, recently concluded a highly successful presale, raising 185,976 SOL (approximately $38 million) within 48 hours. This achievement marks one of the most significant meme coin presales in the history of the Solana blockchain.

Decision to Refund 80% of Raised Funds

Following the presale, the PAIN team announced that they will refund 80% of the raised funds to investors, retaining only 20% for essential activities such as providing liquidity, covering launch expenses, and potential listing fees. The team emphasized that the project does not require the full amount raised to proceed effectively.

Allocation and Distribution Details

The refund distribution will be calculated based on each investor’s proportion of SOL contributed during the presale. However, contributions from certain addresses, including a bot address with 0.9 SOL and centralized exchange funds totaling 212.3 SOL, will not be included in the refund process. Additionally, any funds sent after block 318346069 will be returned to the respective senders.

Community Reactions and Future Outlook

The PAIN team’s decision to refund a substantial portion of the presale funds has sparked discussions within the crypto community. Supporters view this move as a demonstration of the project’s integrity and commitment to its investors, contrasting with other meme projects that have raised funds without delivering value. Critics, however, question the necessity of retaining approximately $7.6 million, suggesting that even 20% of the raised amount is substantial for a meme coin launch.

As the PAIN project progresses towards its official launch, investors and observers alike are keen to see how the retained funds will be utilized and how the token will perform in the market. The project’s unique approach and transparent communication have set it apart in the crowded meme coin landscape, generating significant interest and anticipation.