Solar (SXP) says it has 'no plans' for additional protocol updates…operating structure remains uncertain

The Solar (SXP) project said it is not planning any further protocol updates due to ongoing uncertainty around its internal operating structure and key issues. Discussions continued after the resignation of the previous leadership, but structural problems remain unresolved.

According to the Solar team blog on the 26th, Solar said, “Severe operational constraints in recent months have made it impossible to proceed with additional protocol development and updates.” After the former management resigned, several individuals and teams reviewed a potential takeover of the project, but all were reported to have withdrawn during the due diligence process.

The Solar team explained, “After reviewing the existing structure and past operating history, we concluded it would be difficult to take on the project in a responsible manner.” Key issues cited included how foundation funds were raised and managed, problems surrounding fund control that existed outside the team, and the circumstances under which protocol utility changes—such as card fees—were made without prior notice.

The review also covered the duplicate supply issue on Binance Smart Chain (BSC) and how tokens came to circulate via Binance infrastructure. Solar said, “We repeatedly reached out to Binance, but did not receive responses that led to a substantive explanation or resolution.”

The Solar team added, “Without clear answers, it was realistically impossible for new leadership or a development organization to take responsibility for the project under the current structure,” and said, “At this point, there are no plans for additional protocol updates.”

Some developers and validators, however, decided individually to continue their activities on other projects. The Solar team said, “This is not an organized migration or something done under instruction, but a choice made at each individual’s discretion.”

Solar said former CEO Naim Williams, through a separate notice, plans to introduce an independent project involving some former Solar contributors. The Solar team added, “This notice is intended to provide transparent information to users, validators, and exchange partners.”