If the OptiFi team has learned one thing recently, it’s to never rush! In fact, the creators of the DeFi exchange based on Solana (SOL) have closed permanently. Find out what this situation means for investors.
His tinkering on Solana went very wrong
OptiFi team announced a sad news this Monday. She said: “We had to update our Solana program code, so our deployer tried to upgrade the OptiFi program on the Solana mainframe. However, we accidentally used the command “Solana program closed”, unfortunately caused our OptiFi program on the mainnet to shut down. »
OptiFi launched on Solana’s main network earlier this month. The exchange planned to deploy 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 result was the accidental shutdown of the OptiFi exchange total loss of USDC$661,000. Exchange funds are permanently unavailable.
OptiFi plans to refund all users’ credits. According to the team, the refund process should take up to two weeks. Additionally, OptiFi has apologized to users stating that “Learning from this lesson will be hard“.
The OptiFi team made recommendations to Solana’s lead programmers to help others avoid a similar fate. She also suggested further official documentation of the “Solana program closed» recommended.
Announcing the sad news, the OptiFi team said:All deployments require a rigorous process and avoid any single point of failure.» «Don’t rush like we did, especially for DeFi projects“, she said.
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Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and pass my pen knowledge related to this ecosystem.