Solana-based reputation protocol SolanaID to shut down services on Sept. 30

Solana-based on-chain reputation protocol SolanaID, whose token is SOLID, announced on its official X account that it will wind down the project. SolanaID Hub, its API and the Solana Display Network are scheduled to shut down on Sept. 30, according to the team. The team said in an explanation written in English, "프로젝트가 캠페인을 진행하지 않으면, 사용자에게 제공할 보상도 없어진다. 반대로 충분한 사용자를 확보하지 못하면 프로젝트는 캠페인 진행을 주저한다. 우리는 이 문제를 해결할 수 없었고, 새로운 사용자를 유인할 혜택도 만들어내지 못했다". Meanwhile, SOLID will remain on-chain along with its locked liquidity pool, while treasury holdings previously held by the SolanaID team are set to be burned. According to CoinMarketCap, SOLID was trading at $0.0002338, down 9.49%, and had a fully diluted valuation of $234,000.