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Solana Ecosystem Call: February 2024

By Superteam

Published on 2024-02-08

Dive into the latest Solana developments with Dan Romero, Brian Johnson, and key project launches in this packed ecosystem call

The notes below are AI generated and may not be 100% accurate. Watch the video to be sure!

Solana Ecosystem Call: February 2024 Highlights

The February 2024 Solana Ecosystem Call brought together leading figures in the blockchain space to discuss recent developments, project launches, and the future of the Solana network. With a packed agenda featuring Dan Romero from Farcaster, Brian Johnson discussing longevity and crypto, and the launch of OX People, this call provided valuable insights into the rapidly evolving Solana ecosystem.

Wins of the Month

The call kicked off with an overview of recent wins for the Solana ecosystem. Notable achievements included:

  1. Solana Mobile's Chapter Two saw 85,000 pre-orders in just three weeks, with a second snapshot on the way for potential future airdrops.

  2. Token Extensions went live, officially named and no longer referred to as Token 22. This development is expected to bring a wave of adoption from enterprises and regulated companies.

  3. Tensor launched Price Lock, allowing users to take long or short positions on NFTs without actually buying them.

  4. Dialect shipped the Operator, an LLM-based trading bot within Telegram.

  5. Helius released the Smart Solana Fees API to help set transaction fees correctly.

  6. Colosseum officially launched, offering hackathons, an accelerator program, and a venture fund for Solana projects.

These wins demonstrate the continued growth and innovation within the Solana ecosystem, attracting both developers and users to the platform.

Impressive Numbers

The Solana network has been achieving remarkable milestones in terms of usage and adoption:

  • Jupiter's "Jupuary" campaign saw $600 million of JUP tokens airdropped, claimed by 500,000 people.
  • Solana surpassed $300 billion in monthly stablecoin volume.
  • The Solana developer ecosystem has grown 10x since 2020, according to the Electric Capital report.
  • Ironforge managed 10 million RPC requests per hour during peak times.
  • NFT activity remains strong, with 100,000 unique wallets buying NFTs in a single week.

These figures highlight the scalability and growing popularity of the Solana network across various sectors of the crypto industry.

Farcaster: Decentralized Social Networking

Dan Romero, founder of Farcaster, introduced the decentralized social network protocol to the Solana community. Farcaster aims to solve two key issues in social media:

  1. Giving developers direct relationships with users without the risk of API access being revoked.
  2. Providing creators with direct relationships to their audiences, preventing platform-dependent followings.

Romero explained, "Farcaster is a decentralized social network protocol and it makes two strong guarantees. For developers, if you build an app on Farcaster, you have a direct relationship with the users using your app. So there's no third party middleman that can come in and snip the API access."

The recent introduction of "frames" has sparked significant growth for Farcaster. Frames allow developers to create interactive elements within posts, similar to Twitter polls but with much greater flexibility.

Importantly, Romero announced that Solana support is coming to Farcaster: "We have the code ready. We are undergoing a lot of growth right now and trying to kind of keep things stable both at the kind of warp cast level and then the, which is where most users are using it today and then the protocol level. It will be a protocol level change."

This integration will enable Farcaster users to add Solana addresses to their profiles, opening up new possibilities for developers and users within the Solana ecosystem.

Jupiter: Reflecting on Jupuary and Future Plans

Siyang, co-founder of Jupiter, shared insights on the successful "Jupuary" token launch and airdrop. The event was a significant stress test for the Solana network, which performed admirably:

"Leading up to the Jupe token launch, we've been talking to everyone in the ecosystem. Everyone has been very helpful, people from Brian, from Triton, from Helios, they all even follow from Jito. They all gave us all these different ideas, what we can do to get the network prepared."

The Jupiter team took extensive precautions, including increasing their RPC servers from 20 to 60-70 to handle the anticipated load. The successful launch demonstrated the robustness of the Solana network and the collaborative spirit of the ecosystem.

Looking forward, Jupiter has several initiatives planned:

  1. Expanding the launchpad feature, with upcoming projects like Sharki Fight and Deep Breach.
  2. Empowering the Jupiter DAO with a substantial treasury (100 million Jupiter tokens and 6-7 million USDC) to fund community initiatives and future launchpad projects.
  3. Continuing to develop their perpetuals product, which has seen impressive growth with $110 million AUM and almost $10 billion in volume in just three months.

Siyang emphasized the importance of community involvement in Jupiter's future: "The Dow is very important because, I mean, we also announced it yesterday as well. The whole idea is that we want to empower the community to do things that are basically working with Super Team, working with Solana, breakpoint, all the events, moving forward."

Grass Protocol: Decentralized Data for AI

Andre from Grass Protocol introduced their innovative approach to decentralized data collection for AI training. Grass Protocol operates similarly to Hive Mapper but focuses on scraping language data from websites.

Key points about Grass Protocol:

  • Currently has a network of around 600,000 nodes actively scraping data from the public web.
  • Installed on over two-thirds of SAGA phones.
  • Present in 190 countries.
  • Plans to add features like tagging, labeling, data provenance, and embedding.

Andre explained the significance of their work: "You've got two ingredients that are present across the entire AI stack from training to inference, vetting, etc. And those two ingredients are compute and data. And we're focused on the data layer, which we feel has actually been a bit underrepresented to date across decentralized AI and that entire ecosystem."

The protocol aims to solve issues like "poisoned data" in AI training sets, using Solana's capabilities to create proof of request systems that validate data sources.

OX People: Social Network for Crypto Natives

Prasanna, co-founder of Rippling and creator of OX People, unveiled their new social network designed specifically for crypto enthusiasts. OX People aims to simplify the crypto experience by aggregating on-chain activities across multiple blockchains.

Key features of OX People include:

  • Connecting Twitter profiles with on-chain wallets to find and follow friends' crypto activities.
  • Presenting on-chain transactions in a human-readable format.
  • Displaying portfolio information across multiple chains and wallets.
  • Allowing users to contribute information about wallet ownership, creating a wiki-like source of on-chain identities.

Prasanna demonstrated the platform's capabilities: "You can see across all my wallets, what do I have in Solana? You can see these are my holdings. I have 5.5 million of Lifinity on chain in Solana across five different wallets. If you remove the Solana filter, you can see my assets across multiple of my EVM wallets, multiple of my Cosmo wallets and five different Solana wallets."

This comprehensive view of on-chain activities could revolutionize how crypto users interact with their assets and communities.

Don't Die: Longevity and Crypto

Brian Johnson, known for his work in longevity research, discussed the intersection of crypto and the quest for extended lifespans. The "Don't Die" movement aims to leverage technological and medical advancements to significantly extend human health and lifespan.

Johnson explained the core concept: "Don't die is a contemplation that if the future could whisper in your ear, they may say, don't die. That is the only thing on humanity to do list in the early 21st century that we've reached a certain point of technological and medical ability that we will be able to extend life and health span to degrees that we can't currently contemplate."

The integration of blockchain technology with longevity research opens up new possibilities:

  1. Creating on-chain proof of workout, sleep, and age.
  2. Developing a "proof of don't die" concept.
  3. Bridging longevity data to applications in healthcare and life insurance.

Johnson emphasized the potential for community-driven initiatives: "We are the new power source. And so I'm trying to figure out how to galvanize us as the new source of we're trying to secure our future, then I'd like us to do it together, not being reliant upon other systems of authority and power."

Solana Mobile and Ecosystem Growth

The Solana ecosystem continues to expand rapidly, with several noteworthy developments:

  1. Solana Mobile's Chapter Two pre-orders reached 85,000 in just three weeks, indicating strong demand for blockchain-integrated mobile devices.

  2. Token Extensions, formerly known as Token 22, are now live. This feature allows tokens to have "superpowers," enabling regulated entities to maintain compliance while leveraging blockchain technology.

  3. The Solana developer ecosystem has grown tenfold since 2020, according to the Electric Capital report, showcasing the platform's increasing popularity among builders.

  4. Stablecoin volume on Solana surpassed $300 billion monthly, demonstrating the network's capacity to handle high transaction volumes efficiently.

  5. NFT activity remains robust, with 100,000 unique wallets purchasing NFTs in a single week and 22,000 new wallets becoming active in the NFT space.

These developments highlight Solana's growing ecosystem and its ability to attract both developers and users across various blockchain applications.

The Future of Solana: RWAs and Global Adoption

The call emphasized the potential for real-world assets (RWAs) on Solana, particularly with the introduction of Token Extensions. This feature is expected to facilitate the onboarding of regulated entities and enterprises onto the blockchain.

Additionally, the ecosystem is expanding globally, with new SuperTeam chapters launching in the Philippines, Malaysia, and the Balkans. These regional hubs will help drive adoption and development of Solana projects worldwide.

The introduction of a Japanese stablecoin on Solana further exemplifies the network's global reach and its potential to revolutionize traditional finance on a global scale.

Community Initiatives and Hackathons

The Solana ecosystem is fostering community growth through various initiatives:

  1. The first-ever content hackathon, offering $135,000 in prizes for writers and content creators.
  2. Upcoming hacker houses in Dubai, London, and Bangalore.
  3. "Cash landings" events worldwide to discuss earning opportunities within the Solana ecosystem.
  4. The Moonshots grant program, providing $20,000 grants for full-time developers working on innovative projects.

These initiatives aim to attract talent, foster innovation, and build a strong, global community around Solana.

Conclusion: A Thriving Ecosystem

The February 2024 Solana Ecosystem Call showcased the platform's rapid growth, technological advancements, and expanding community. From social networks like Farcaster and OX People to DeFi powerhouses like Jupiter, and innovative projects like Grass Protocol and Don't Die, Solana continues to attract diverse and groundbreaking applications.

As the ecosystem matures, it's clear that Solana is positioning itself as a leading blockchain platform for both developers and users. With ongoing improvements in scalability, user experience, and real-world integrations, Solana is poised for continued growth and adoption in the coming years.

Facts + Figures

  • Solana Mobile's Chapter Two received 85,000 pre-orders in three weeks
  • Jupiter's "Jupuary" campaign airdropped $600 million of JUP tokens to 500,000 people
  • Solana surpassed $300 billion in monthly stablecoin volume
  • The Solana developer ecosystem has grown 10x since 2020
  • Ironforge managed 10 million RPC requests per hour during peak times
  • 100,000 unique wallets bought NFTs on Solana in a single week
  • 22,000 new wallets became active in the Solana NFT space
  • Grass Protocol has a network of around 600,000 nodes actively scraping web data
  • Grass Protocol is installed on over two-thirds of SAGA phones and present in 190 countries
  • Jupiter's perpetuals product achieved $110 million AUM and almost $10 billion in volume in three months
  • Brian Johnson claims to have slowed his aging by the equivalent of 31 years through his longevity protocols
  • OX People allows users to view their assets across multiple chains and wallets in one place
  • The content hackathon offers $135,000 in prizes for writers and content creators
  • The Moonshots grant program provides $20,000 grants for full-time Solana developers
  • Farcaster plans to add Solana support in the coming days

Questions Answered

What is Farcaster and how does it differ from traditional social media platforms?

Farcaster is a decentralized social network protocol that provides two key guarantees. For developers, it offers a direct relationship with users without the risk of API access being revoked by a third party. For creators, it ensures a direct relationship with their audience, preventing platform-dependent followings. This decentralized approach aims to solve issues of centralized control and sudden changes in API access that have plagued traditional social media platforms.

How did Jupiter's "Jupuary" token launch impact the Solana network?

Jupiter's "Jupuary" token launch was a significant stress test for the Solana network, which performed admirably. The event saw $600 million of JUP tokens airdropped and claimed by 500,000 people. To prepare for the launch, Jupiter increased their RPC servers from 20 to 60-70. The successful handling of this high-volume event demonstrated the robustness and scalability of the Solana network.

What is Grass Protocol and how does it contribute to AI development?

Grass Protocol is a decentralized data collection system for AI training, similar to Hive Mapper but focused on scraping language data from websites. It operates a network of around 600,000 nodes that actively scrape data from the public web. Grass Protocol aims to solve issues like "poisoned data" in AI training sets and plans to add features like tagging, labeling, data provenance, and embedding. This approach helps in providing clean, diverse data for AI model training while leveraging blockchain technology.

What is OX People and how does it benefit crypto users?

OX People is a social network designed specifically for crypto enthusiasts. It simplifies the crypto experience by aggregating on-chain activities across multiple blockchains. Users can connect their Twitter profiles with on-chain wallets to find and follow friends' crypto activities. The platform presents on-chain transactions in a human-readable format and displays portfolio information across multiple chains and wallets. This comprehensive view of on-chain activities allows users to better understand and interact with their crypto assets and communities.

How is the "Don't Die" movement integrating with blockchain technology?

The "Don't Die" movement, led by Brian Johnson, aims to leverage technological and medical advancements to significantly extend human health and lifespan. It's exploring integration with blockchain technology in several ways, including creating on-chain proof of workout, sleep, and age, developing a "proof of don't die" concept, and bridging longevity data to applications in healthcare and life insurance. This integration aims to create community-driven initiatives for promoting and tracking longevity efforts.

What are Token Extensions on Solana and why are they important?

Token Extensions, formerly known as Token 22, are a new feature on Solana that allows tokens to have "superpowers." This feature enables regulated entities to maintain compliance while leveraging blockchain technology. Token Extensions are particularly important for bringing real-world assets (RWAs) onto the Solana blockchain and facilitating the onboarding of enterprises and regulated companies. This development is expected to drive adoption and create new use cases for blockchain technology in traditional finance and regulated industries.

How is Solana fostering global community growth?

Solana is fostering global community growth through various initiatives. New SuperTeam chapters are launching in the Philippines, Malaysia, and the Balkans to drive regional adoption and development. The ecosystem is also organizing "Cash landings" events worldwide to discuss earning opportunities within Solana. Additionally, hacker houses are planned in Dubai, London, and Bangalore. These efforts aim to attract talent, foster innovation, and build a strong, global community around the Solana ecosystem.

What is the significance of the Solana developer ecosystem growth?

The Solana developer ecosystem has grown tenfold since 2020, according to the Electric Capital report. This significant growth indicates increasing popularity and adoption of Solana among blockchain developers. A larger developer ecosystem typically leads to more innovation, better tools and infrastructure, and a wider range of applications built on the platform. This growth is a positive indicator of Solana's long-term prospects and its potential to compete with other leading blockchain platforms.

How is Solana addressing the need for real-world asset (RWA) integration?

Solana is addressing the need for real-world asset (RWA)

integration through features like Token Extensions. These allow for the creation of tokens with specific properties that can represent real-world assets while maintaining regulatory compliance. The introduction of a Japanese stablecoin on Solana is an example of this integration. Additionally, projects like Etherfuse are bringing tokenized US treasuries onto the Solana blockchain, demonstrating the platform's capability to handle regulated financial instruments. These developments are crucial for bridging traditional finance with blockchain technology and expanding Solana's use cases.

What opportunities are available for content creators in the Solana ecosystem?

Content creators in the Solana ecosystem have several opportunities. The ecosystem is hosting its first-ever content hackathon, offering $135,000 in prizes for writers and content creators. This initiative aims to encourage the creation of high-quality content about Solana and its projects. Additionally, there are ongoing bounties and projects available on platforms like Super Team Earn, where creators can find paid opportunities to contribute to the ecosystem. These initiatives not only provide earning opportunities but also help in educating and expanding the Solana community through quality content creation.

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