Solana is back
Recent developments on Solana
The 26th edition of Gems Corner focuses on major developments in the Solana chain, plus other airdrop alphas. Enjoy the gems.
Seven months ago, “Solana is dead” was trending on Twitter, and most people thought Solana wouldn’t make it back after the FTX contagion effect.
To add insult to injury, a few month(s) ago, the SEC declared SOL as a security, further “weakening” people’s confidence in the Solana chain. But recently, there are some apparent signs that Solana is back. Most of which are phenomenon developments and statistics.
Wanna know? Let’s dive.
1. Solana Pay Integrates with Shopify
This week, Solana announced that it has integrated its plug-in with Shopify for USDC payments. To give context, Shopify currently accounts for 10% of United States e-commerce and about $444 billion worth of global economic activity.
It’s big news for the Solana Foundation and the entire Crypto industry.
2. Solana’s NFT volume is on the move
Solana’s NFT volume increased by 19% in the last 24 hours. Looking at the recent state of NFTs, this is an incredible feat. There are also speculations that it will maintain an upward trajectory in the next few months.
3. Euro Stablecoin on Solana
Finnish fintech giant Membrane Finance launches the first euro stablecoin (EUROe) on Solana. Here’s where it gets interesting: Wirex, a leading money app with over 6 million users, has announced its support for EUROe on Solana from day one.
That means, Wirex’s over 40 million merchants across 200 countries can use EUROe to facilitate payment and trades. Incredible!
4. Solana’s TVL is up
From the attached chart, Solana’s TVL doubled (2x) recently. And with this many developments, their TVL could likely take off from there. Fingers crossed.
5. Top Performing L1
DeFi’s Diversity is a metric used in measuring the number of protocols that constitute the top 90% of DeFi TVL. Evidently, from the chart, Solana out-paced Polygon and BNB Chain to secure the number 2 spot with 19%. Another huge win!
And these are not even all. Here are some other developments:
Brave Browser announced Solana NFT integrations for NFT token-gating to Brave Talk.
Phantom launches Sign In With Solana (SIWS) integration.
Maple brings Cash Management Solution to Solana.
Marinade +1 million SOL stake to Marinade Native went live.
Some more? Heck yeah!
Jito is on my radar!
Jito is a fast-growing liquid staking protocol on Solana. The platform has recently gained much traction as Solana’s comeback stats improved. The team also hinted at an airdrop following the launch of their referral program.
You can stake your SOL on Jito using my referral link here.
Bullish on SOL.
Chart of the day
The total value locked for the real-world assets (RWA) category skyrocketed from $100M to $1.2B in 2023. The storm is coming, anon.
Actionable Strikes
Mint Eigen Layer’s free NFT - link
Vote on the latest 3 Stargate proposals - link
Mint your Fundrop Season 1 NFT - link
Sign up for Lore (Etherscan killer) - link (airdrop prospect)
That’s a wrap.
Thanks for reading!
Until next Friday,
Viktor DeFi.
PS: I’d love to hear your feedback and comments.
appreciat 😊
👏👏👏