Solar Project Status Update
Over the past months, the Solar project has faced significant operational constraints that have prevented further protocol development and updates.
Following the resignation of the former leadership, multiple individuals and teams explored the possibility of assuming responsibility for Solar. However, after conducting due diligence and reviewing the project’s legacy structure, these parties ultimately chose not to proceed.
During this process, the Solar team sought clarity on several long-standing and material issues, including:
- The status and control of the Solar treasury funds, including how those funds were obtained and are currently managed, where custody and administrative control resided outside of the Solar team
- Changes to protocol utility, including card-related processing fees, and why these changes were implemented without prior notice to the Solar team or governance participants
- Historical supply events, including duplicated supply on BSC and the mechanisms through which distribution occurred via Binance-operated infrastructure and platforms
Despite repeated outreach to Binance and extended time provided for response, these requests did not result in actionable clarification or resolution. The absence of clear answers from Binance made it impractical for any new leadership or development team to responsibly assume control of the project under the current structure.
As a result, no further protocol updates are planned for Solar at this time.
Members of the former Solar development and validator community have independently chosen to continue their work in other initiatives outside of Solar. These decisions were made individually and are not the result of a coordinated migration or directive.
Importantly, this does not mean that Solar holders are being left without options. A separate announcement will be published by Nayiem Willems, former CEO of Solar, outlining an independent project that several former Solar contributors are now involved in. This initiative is not a continuation of Solar, but it does provide a forward-looking path for users who wish to participate voluntarily in a new ecosystem.
This update is provided for transparency to users, validators, and exchange partners.
Solar Team