Solana's Network Near-Crash Averted as 28% of Stake Goes Dark

Solana's network came perilously close to crashing on August 12 after 28.83% of its staked SOL tokens fell out of consensus, threatening a 30-month uptime streak.

The delinquency, which occurred on Teraswitch and reported by Marinade Finance's staking protocol, would have caused Solana to lose its uptime record if it had reached the 33.34% mark.

Fortunately, the network only got 86% of the way to this trip line, averting a full-scale collapse. The crisis was averted when Teraswitch engineers identified and removed the cause of the malfunction within 10 minutes.

The incident affected 90 validators, who lost $25,600 in rewards while they were offline. This anomaly is ironic considering SOL's trading price at the time was $76.9.