Solana wallet Solflare pledges to pay missed rewards on staked $160 million after validator goes offline
Source: CoinDesk ·
From the source
About 1.56 million SOL sat on a validator that stopped earning, and the wallet still hasn’t named the firm that held its keys. Solflare, a wallet app for the Solana blockchain, said it will make up the rewards its users missed after a problem at an outside company knocked its staking validator offline with about $160 million worth of SOL (SOL) sitting on it. Staking allows SOL token holders to earn a yield. They assign their tokens to a validator, a computer that helps check transactions and keep Solana’s records, and collect a share of the rewards as long as that validator keeps doing its job. Solflare runs its own validator so users can stake without leaving the app. On Tuesday evening U.S. time, Solflare said the company it pays to run that validator reported “a security incident on their side, affecting the keys they hold for the Solflare validator.” Solflare didn’t identify the company. The validator stopped earning, and about 1.56 million SOL was still delegated to it on…