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An exchange based on Solana (SOL) accidentally closes

If there’s one thing the OptiFi team has learned lately, it’s that you should never rush! Indeed, the Solana-based DeFi exchange (SOL) was accidentally permanently closed by its creators. Find out what this situation entails for investors.

Crypto, Solana, Optifi

A DIY on Solana that went very wrong

The OptiFi team has announced a sad news this Monday. She said: “ We had an update to our Solana program code to do, so our deployer tried to upgrade the OptiFi program on the Solana mainnet. However, we accidentally used the command “Solana program closed”, which means that our OptiFi program on the mainnet has unfortunately been closed. »

OptiFi launched on Solana’s mainnet earlier this month. The exchange planned to roll out a new version of its program with new useful functions. In particular, he had to propose a monitoring system aimed at minimizing errors. That said, the accidental closure of the OptiFi exchange resulted in a total loss of USDC $661,000. The exchange’s funds are permanently inaccessible.

OptiFi intends to reimburse the assets of all users. According to the team, the refund process should take up to two weeks. In addition, OptiFi apologized to users by specifying that it “ will learn the lessons of this hard lesson ».

The OptiFi team made proposals to the main Solana programmers in order to help others avoid a similar fate. She also suggested that a more official documentation on the order “ Solana program closed ”be proposed.

In announcing the sad news, the OptiFi team said: “ Each deployment requires a rigorous process and the failure of a single point can be avoided. » « Please don’t rush like we did, especially for DeFi projects ”, she stressed.

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Luc Jose Adjinacou avatar
Luke Jose Adjinacou

Far from having cooled my ardor, an unsuccessful investment in 2017 on a cryptocurrency only increased my enthusiasm. I therefore resolved to study and understand the blockchain and its many uses and to relay information related to this ecosystem with my pen.

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