Typed on mobile.
Somewhere in this sub I read about DCA’ing top ten coins outperformed trying to find the next moonshot over the long term. SOL was a top ten coin at some point in time . So I decided time to expand my portfolio and buy some SOL.
At first it was quite nice, the concentrated liquidity pools (Whirlpools) on the Orca DEX was really nice and I was making sweet returns (provided I monitored the price range closely)
Then came many network issues (down times). Orca didn’t work because the SOL network was down. My whirlpool fell below my liquidity range due to the price drop and I lost because I couldn’t pull out my liquidity.
Not learning my lesson, I continued on until yesterday.
Then came yesterday’s hack. Hot wallets being drained, no one knows what’s happening.
I log in into my Solflair wallet – nothing. F*** looks like I got hacked. I decide to check out the Blockchain explorer, enter my wallet address and I get “error not found”. OMW did this hacker hack me so hard my wallet is off the network???
I double checked my wallet addresses and I tried opened my different devices and browsers (using my seed phrase). Still nothing. My SOL (and liquidity pools) were gone!
Like any investor I made peace with this and move on with my day. After all SOL was simply one coin in a balanced portfolio.
Last night I thought let me report my wallet as being affected by the hack in case there are compensation schemes. But first I’ll double check my wallets.
And my word. All my SOL, all my liquidity pools, all there like magic. I’m grateful, I swapped into ETH. But I’m also done with SOL
So if your still into SOL as an investor ask yourself:
– How can this crapchain can be restarted by Dev’s on demand?
– Why does crap chain has multiple downtime a year?
– Why the hell can your coins not be seen the morning of the hack? Is the network so overwhelmed that you can’t even see coins in the Blockchain explorer? (I thought SOL was supposed to be super fast?)
– why the hell must we defend poor service? Other Blockchains offer speed, reliability and Defi too.
I’m grateful I finally pulled out with no losses. And I hope you manage to pull out too. SOL has a long way to go before it reaches the reliability and uptime of other Blockchains.
Thank you for reading.
TL; Dr : I’ve pulled out of SOL.
Network downtime losses me money. Inability to track my coins during hacks/network overloads on the block explorer shatters my confidence in the network.
You should pull out too