DeFi

ETH DeFi scene eyes Solana

Published

8 months ago

16 May, 2024

Solana has cemented its status as a leading blockchain after emerging like a phoenix from the ashes of the FTX/Alameda collapse.

In the community-led renaissance that followed, it was the sweat of native Solana teams that greased the wheels of progress, but following a steady increase in SOL prices and DeFi metrics, non-native protocols are ready to seize the opportunity 👀

🛣️ Solana natives lead the way

SOL’s epic run from its December 2022 low of $8 to $210 just two months ago was one of crypto’s most notable comebacks this cycle, but the wealth creation of ecosystem has not limited itself to its native token holders.

Developers lived up to the hype, starting with the PYTH airdrop in November, which awarded tokens on Solana to addresses that interacted with Pyth oracles on 27 networks (including Ethereum and its L2s) and marked a turning point which gave users in other ecosystems a direct financial incentive to test Solana.

The Pyth Network Retrospective Airdrop claim process is now live.

Eligible individuals can find the Airdrop claim page at: https://t.co/VPNguNGrWx

Learn more below:

Claims Guide

You can read the practical guide on the complaints process at: https://t.co/WlPdVbFEa8

In… pic.twitter.com/nb50NXs7oM

– Pyth Network 🔮 (@PythNetwork) November 20, 2023

Shortly after, Jito Labs, Solana’s native liquid staking protocol, conducted its own airdrop, rewarding eligible wallets that had earned more than 100 points with a minimum five-figure token allocation for the simple action of holding jitoSOL deposit receipts.

The mind-blowing distributions received by Jito users transformed Solana into the premier destination for airdrop hunting, catalyzing the mass adoption of points-based incentive systems by the chain’s new protocols which proved highly effective for attract both users and their capital.

🧨 Change the dynamic

While it was the native protocols that laid the groundwork for mainstream crypto acceptance of Solana, the ecosystem increasingly found itself welcoming Ethereum developers.

The migration may be happening at a snail’s pace, but it’s undoubtedly happening as more projects become aware of the massive amounts of on-chain activity within Solana and eagerly seek to create a deployment to capitalize on this opportunity.

Decentralized Computing Sharing Network Give back banked on Solana’s vision from the start, choose to migrate its token to the SPL standard in November.

Although MetaMask is often considered a laggard when it comes to improving user experience, the project was among the first Ethereum-native applications to introduce Solana compatibility with the launch “Snaps” last September, which allowed users to access external applications directly from their wallet. To date, the Snaps integration for the native Solana Solflare wallet has onboarded over 500,000 users!

MetaMask Solana Snap Milestone ✅

Less than 2 months ago, we welcomed 281,294 MetaMask users to Solana, and today that number has skyrocketed to over 500,000, making us the #⃣1⃣ Snap MetaMask!

A big thank you to @deBridgeFinance for their seamless transition experience! 👏 pic.twitter.com/e2RP6dB9PI

– Solflare – The Solana Wallet (@solflare_wallet) April 26, 2024

Many money markets exist on Solana, but none offer the same level of proven security as Ethereum’s premier lending destination: Aave.

Hoping to leverage its brand as a competitive advantage over Solana, the Aave DAO approved a bill in January temperature control with 83% consensus to deploy a minimally viable version of its Isolated Money Market V3 via Neon EVM, a fully compatible Ethereum development environment built on the Solana blockchain.

Last Wednesday, a community-generated proposal was presented on the governance forum of the popular EVM-based perpetual trading platform. GMX, seeking to establish an exchange-agnostic deployment on Solana called GMSOL.

The GMSOL implementation would exclusively use the GMX token for all value metrics and storage while implementing a GMX buyback mechanism and distributing a significant percentage of fees to the GMX treasury to establish a GMSOL treasury.

In exchange for donating this new native Solana deployment, the GMX DAO is expected to cover all costs associated with auditing the protocol and licensing the replication and use of its frontend code.

Passionate community members have been working hard on the framework for a licensed deployment of GMX V2 to the @Solana network. The video below demonstrates the progress.

Read their proposal to the GMX DAO: https://t.co/thOHHUBgPP https://t.co/mnfsgsZBMi

-GMX 🫐 (@GMX_IO) May 14, 2024

Furthermore, there has been widespread speculation that both Ethena And Pendletwo prominent Ethereum projects that have thrived in recent months thanks to a high crypto interest rate environment, will be deployed on Solana in the near future.

🚀 Long-term trajectory

Applications serve users, not blockchains, and while the bar is high for many top protocols when considering a new deployment, they would be foolish not to flock to environments where users and blockchains exist. activities.

On networks where a protocol is absent, users will inevitably seek replacements, putting existing apps’ market dominance at risk – especially when their channel begins to cede market share to competitors.

Ethereum and Solana have taken radically different scaling approaches, with the former opting for network fragmentation to make operating a validator accessible to everyone and the latter favoring a unified state that focuses usage on one single layer. While greater decentralization at the validator level helps maintain the integrity of the Ethereum network, it certainly has drawbacks that make Solana’s alternative vision of blockchain very attractive in some ways.

Right now, crypto remains largely in the experimental phase, meaning we really have no idea what our nascent industry will look like in 10 years, but just as investors can undertake diversification portfolio to mitigate risk, applications can diversify channels. on which they are deployed to preserve their market shares.

Developers aiming for maximum success must accept that there is no inevitable hub for the future of finance, and they must deploy their applications accordingly, whether it is Ethereum, Solana, or even the EVM frankenchain Monad or the banking application. Regulated settlement network!

The crypto industry must overcome a huge chasm of uncertainty to move from infancy to an end state where true adoption is achieved and billions and billions of dollars of traditional assets make their way onto the chain.

In the meantime, app developers succumbing to blind channel loyalty are leaving money and market share on the table.

Fuente

DeFi

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

Website: https://presale.rollblock.io/

Social networks: https://linktr.ee/rollblockcasino

No spam, no lies, only insights. You can unsubscribe at any time.

Fuente

DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

Don’t miss a thing – Subscribe to receive email alerts directly to your inbox

Check Price action

follow us on X, Facebook And Telegram

Surf The Daily Hodl Mix

&nbsp

Disclaimer: Opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured image: Shutterstock/ktsdesign