Looking for the latest updates from the wallet team? Read below
April 4, 2024
SOL has been experiencing heavy network congestion over the last 30 hours, impacting all dApps. For Magic Eden Wallet, this has resulted in increased rates of send / swap failures for SOL. Users may need to try multiple times in order to successfully send / swap within the Magic Eden Wallet.
We will continue to monitor the network and provide updates; if you need assistance, please reach out through our bot to file a ticket with customer support. We appreciate your patience and understanding!
March 14, 2024
What’s Happening
In the last week, some Magic Eden Wallet users are seeing transactions on Solana failing to confirm and remain in a "pending" state. The reason for this is because they are not being recorded on the blockchain (for an explanation on why, please read the following section).
At the same time, users' balances in the Magic Eden Wallet are being updated as though the transactions have been confirmed, even though they haven't. This is leading to concerns over potentially lost funds.
First off, your funds are safe and are always self-custodied by you. Transactions can always be verified using an explorer (e.g. like Solscan) or reaching out to our support team. This problem is a broader Solana network issue and is not a direct performance issue of the Magic Eden Wallet.
Why it’s Happening
For many chains, transactions that pay higher fees can get priority inclusion on the following block. For Solana, increased fees don’t lead to prioritization of transactions, but rather increase the probability of inclusion.
During times of peak congestion, the result is many transactions fighting for limited blockspace.
Solana is planning an upgrade to its priority fee structure with an upcoming patch that should alleviate the issues mentioned above.
How We’re Helping
Our eng team has been working over the last three days to release a build that will improve UX to enhance the success rates of “stuck” transactions on Solana:
1. By collaborating with our RPC providers, we've optimized our call routing and methods, ensuring transactions are processed more efficiently and quickly reach the block.
2. We have increased our priority fees for Solana transactions.
3. We have introduced additional redundancy in our Solana infrastructure.
We are confident that these actions will significantly boost Solana's transaction success rate, and are in the process of evaluating the build. We anticipate that the update should be rolled out to all Magic Eden Wallet users by this evening.
For those that have filed tickets with us, we will be working with each user to confirm that the build solves key issues.
To further preserve user experience, we made some small adjustments to timelines on perks and offers for the Magic Eden Wallet:
1. Beta Testers will have until Tuesday, March 19th to claim their Soulbound NFT
2. Our fourth commemorative Open Edition with Steady Stack will be delayed until we feel confident that users will have a great experience. We will update users with a public announcement on the rescheduled date.
What To Do If You’re Affected
1. Make sure you have your seed phrase saved. This is critical to accessing your funds and can be found in the security section of your ME Wallet profile.
2. Make sure you are upgraded to the latest build of the wallet - this will be version 2.7.1; if you’re unsure what extension you are on, you can simply uninstall and reinstall the extension
3. Re-import your wallet using your saved seed phrase
4. If you’re still experiencing issues, please file a ticket with us through our intercom bot on help.magiceden.io; you can find the bot in the bottom right hand corner, and click “messages” (second icon on bottom navigation bar)
Future Improvements
Going forward, we’ll be doing the following things to keep users aware of important updates and announcements:
1. A notification banner is launching in our upcoming build. We’ll utilize this banner to inform users of any broad reaching issues we’re seeing with any networks.
2. We’re releasing a new feature on our Magic Eden Wallet Website titled “Updates”, where we’ll release weekly patch notes and any major announcements on network issues we’re seeing.
3. We’re working through a process with our social team on when / how to broadcast messaging on experiences and updates with the wallet to keep the community informed.
Your experience is important to us, and we appreciate everyone’s support as we continue to improve our systems and processes.
