Understanding what’s up with the mess that are swaps on Solana?

this is a good quick summary.

What is happening:

- Someone nuked SOL on-chain. Probably market sold a bunch of it into pools.
- SOL down to $200 on-chain.
- A bunch of arb bots started bombarding Jup + DEX, since CEXs were still at $250.
- This caused a spike in priority fees for DEXs as everyone tries to…

Richard | Tensor (apps/acc)

Understanding what’s up with the mess that are swaps on Solana?

this is a good quick summary.

https://x.com/0xrwu/status/1881110034412867893?s=46&t=TVy9rDl3UkuxmVj4e18bOA

We’re currently experiencing a massive surge of 8,000,000+ requests per minute. While we work to stabilize our platform, transactions may have trouble going through on the first try.

We appreciate your patience 🙏

Phantom

Growing veggies for the fine folks of Southeastern Massachusetts, w/ a focus on nutrient quality. Always interested in the evolution of digital payments.  🎩 

https://x.com/phantom/status/1881112436549599328?s=46&t=TVy9rDl3UkuxmVj4e18bOA