Think you're having a bad day?
Well, this one staff member at this decentralised finance platform has certainly not had the best day as they accidently destroyed a chunk of the company after pressing the wrong command.
The platform OptiFi say the member of staff accidentally performed a coding error which resulted in the company's program permanently shutting down.
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The ‘solana program close’ command resulted in £569,000 ($661,000) worth of a stablecoin called USDC being completely wiped.
OptiFi have said it will compensate all users who have lost out in the total shutdown by the 2 September.
Users are also urged to visit the company's Discord server for further advice and ask any questions they may have.
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In a blog post, the company said: "We sincerely apologise for a program incident leading to the sudden closure of the OptiFi mainnet program and we could not recover it.
"We will compensate all users’ funds and prevent it from happening again."
Wiping out your entire company with just a single command has got to be the stuff of nightmares for OptiFi.
The company tried to reboot the system but quickly found out that it would be impossible to do so.
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OptiFi's blog post continued: "We immediately searched the relevant topic on Solana discord, and also asked a core dev from Solana.
"But the answers we got are overwhelmingly indicating that we are unable to re-deploy our program to the previous program ID... anymore."
The blog post discussed exactly what had happened to the server in a step-by-step guide on how this single command destroyed an entire company.
It goes through what signs were seen to show the company was shutting down, which could potentially be useful to other developers hoping to avoid the same fate.
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The crypto developer also listed the impact the devastating shutdown will have on the company going forward.
The blogpost says:
- Our OptiFi program with id optFiKjQpoQ3PvacwnFWaPUAqXCETMJSz2sz8HwPe9B is closed permanently, and no more callable.
- ALL the users’ margin accounts USDC tokens, option tokens, and AMMs USDC vaults are locked in where they are, because they are using PDAs, which are bound to optFiKjQpoQ3PvacwnFWaPUAqXCETMJSz2sz8HwPe9B.
- According to our TVL on Defi Llama, the total locked USDC amount is around 661K USDC.
- Participants of the AMM contest will not be affected. We’ll announce winners on Sep 5th.
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The company includes in the blog post a strong message, one that they obviously want other developers to listen to as it is in bold.
It read: "EVERY DEPLOYMENT NEEDS A RIGOROUS PROCESS AND SINGLE POINT FAILURE CAN BE AVOIDED. PLEASE DON’T RUSH LIKE WHAT WE DID, ESPECIALLY FOR DEFI PROJECTS."
Topics: Cryptocurrency, Good News
Callum Jones