Solana ID announces shutdown, treasury SOLID has been destroyed

Comparing news, Solana ID, the Solana ecosystem identity and user incentive program, announced that it will gradually shut down its business. Solana ID Hub, API Services, and Solana Display Network will cease operations at the end of September 2026, and are no longer accepting new cooperative activities. User data will be deleted before the end of this year, and related mailing lists will also be purged, unless users actively opt in to new mailing lists unrelated to Solana ID.

The team said the project had launched SOLID Priority Pass, completed SwissBorg and BorgPad token sales, and launched the Hub to attract more than 17,000 users, while continuing to carry out collaborative activities and SOLID Talks. However, it was difficult to cold start the bilateral market, the equity supply cycle was too long, and it was difficult for the display network to obtain leading application traffic. Combined with the shrinking marketing budget and limited financing space in the bear market, it was finally decided to stop operations.

All SOLID held in the company's treasury has been destroyed, accounting for about 73.78% of the total token supply. The tokens remain on the chain and the liquidity pool is locked. The team said they are open to selling the brand and technology, and said members will continue to deeply cultivate the Solana ecosystem.