Solaris — KuCoin Update — Trading, withdraws and deposits resumed.

Dear Solaris Community,

We are pleased to announce that Solaris trading, withdrawals and deposits have now resumed on KuCoin.

Explanation on what happened

As majority of you are aware, Solaris made a transition to be fully proof-of-stake on the 15th of April, which has caused network instability and eventually led to a temporary blockchain stall. The core team released a mandatory emergency wallet update which restored the blockchain operation within 24 hours of the stall.

Due to unforeseen technical issues after the mandatory update, KuCoin temporarily halted trading, deposits and withdrawals for Solaris. We want to underline that there was no actual issue with the Solaris software or KuCoin exchange, but an unfortunate error that happened due to time pressure and lack of preparation and notification for the mandatory update.

Due to this error, a number of accounts on KuCoin got credited XLR to their balances that did not technically exist on the blockchain. As you are aware, this caused a sudden drop in price as users started selling their XLR until the trading market was closed. All issues have now been fixed and and operations restored back to working order, and we want to thank KuCoin for their cooperation and quick responses in these urgent matters.

We want to deeply apologize for the inconveniences caused.

Solaris Core Team