Today, Solana Labs requested SolRazr team to postpone their IDO or change the IDO model as engineers are still working on preparing Solana network to handle large AMM-style IDOs as part of the 1.7 validator release. While there are no problems with SolRazr’s platform, Solana Labs is concerned that SolRazr’s IDO could create conditions similar to that of the Grape IDO, which caused the network to halt for 18 hours.
Our sincere apologies to the SolRazr community for requesting the change.
In addition to releasing the support statement above, Anatoly (Founder & CEO of Solana) will do an AMA with SolRazr community soon.
To accommodate this request, SolRazr has decided to make some changes to our IDO model but will continue to launch as planned on the same schedule. Solana team has also acknowledged that there are no issues with our platform or the program.
We have taken enough care to make sure these changes do not impact the user experience for the community members in any way. All of this had to be done at lightning speed to make sure we launch the IDO on the same time and date as promised to the community earlier.
We are very proud of what we built on Solana in the last few months and we will continue to build a world-class platform to reach our mission of giving millions of retail investors the ability to invest in high-quality Solana projects.
TL;DR
This change is not going to affect the IDO timeline or the experience of the user in any way.
Thanks and good luck with the IDO in the next few hours!
