NEWS COVERAGE

SolChicks Crashes Solana Network with Overwhelming Demand for $CHICKS

  • Demand for SolChicks’ native token $CHICKS crashed the Solana Network.
  • Its market cap rose by 710%.
  • Both Solana and SolChicks addressed the issue.

SolChicks, a play-to-earn fantasy game built on the Solana Network, has left the crypto community awestruck with its immense enthusiasm. Following its Token Generation Event (TGE) that received an outpouring response, Solana and Raydium experienced an outage. This is due to unexpected levels of heavy traffic that flooded the network.

Moreover, Solana and SolChicks decided to view the disruption on a positive note and as an opportunity to further enhance the system. Back when crypto traders were looking for an alternative to Ethereum, the Solana ecosystem was the top choice.

However, no matter how fast and furious its system is, the hype created by the SolChicks community took Solana by surprise with its astronomical demand.

In addition, users observed a significant increase in $CHICKS market cap and on-chain activities after its TGE. Having a $4B market cap indicates a 710% upsurge within 24 hours, positioning itself among the levels of MANA ($5B) and SAND ($4B). Meanwhile, each token had a starting price of $0.05 with highs of $0.80.

Furthermore, SolChicks apologized for the sudden inconvenience through a tweet:

(Thread 1/2)CHICKS HAVE TAKEN SOLANA DOWN

We apologize for the inconvenience of this delay but tens of thousands of people are trying to buy $CHICKS and the Raydium server has crashed. It appears SolScan is also not loading our contract address right now either. pic.twitter.com/WX0uqKlgZR

— SolChicks (@SolChicksNFT) December 13, 2021

On the other hand, Solana addressed the issue by saying:

The overwhelming level of traffic generated for $CHICKS caused an unforeseen slowdown in our network. Solana is a new and upcoming chain that is still in pursuit of perfection and is still innovating through regular and significant patches to bring the cheapest fees possible to users. We believe the 1.9 patch will address this and related issues currently spreading in the ecosystem. We look forward to taking one step closer to our goal of solving the trilemma. We are pleased to inform the SolChicks family that $CHICKS is now live on both MEXC and Raydium and all tokens are able to be claimed.

Source: Investing.com – https://www.investing.com/news/cryptocurrency-news/solchicks-crashes-solana-network-with-overwhelming-demand-for-chicks-2711229

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