1B Transactions, 20M Blocks, Kin Migration, Exchange Listing, & More
🚀 1 billion transactions and 20 million blocks on Mainnet Beta
💰 Over $5 million in trading volume through liquidity mining
🎉 USDT trading pair is now live after community-driven listing on gate.io
🌍 Over 250,000 S◎Ldiers in over 30 countries joined up in June
USDT Pairing On Gate.io
Solana is now listed on gate.io with SOL/USDT pairing available for trading! SOL was listed on gate.io after successfully winning a voting competition against Cartesi; the final votes were 40,423,687 for SOL and 12,874,108 for Cartesi. These incredible numbers were a direct result of the rapidly growing Solana global community. We expect more pairings to be available in the near future.
SOL pairs are now available on major exchanges such as Binance and gate.io, along with minor exchanges including Bilaxy, Hotbit, Hoo, and CoinDCX.
1 Billion Transactions, 20 Million Blocks
The Solana network passed a few major milestones in June. The network reached over 20 million blocks mined; this is a monumental milestone for any blockchain project, but what is especially interesting is that it only took Solana four months to mine 10M blocks while it took Ethereum five years.
On June 18th, the Solana network officially processed its 1 Billionth transaction! Since we created our genesis block and used it to launch mainnet beta on March 16th, it has been quite the journey.
The First Solana Transparency Report
As the Solana token user base continues to grow, it is of utmost importance for the Solana Foundation to maintain a high level of transparency with regards to the SOL token. On June 19th, the Solana Foundation released the first official transparency report. The report covers the current state of the supply, supply forecast for 2020, unlock schedule, and token activity for the months of April, May, and June. Transparency Report #2 will be available soon.
Thank you to everyone who has supported Solana over the past two years. The protocol depends on the support, evangelism, and adoption of users who care about the future of decentralized finance and marketplaces.
Kin’s Community Officially Approves Migration From Stellar To Solana
On May 22nd, 2020, Kik Interactive Inc. put forth a proposal to the Kin Ecosystem recommending a migration from the Kin Blockchain to the Solana Blockchain. This migration proposal was in response to the continued growth of the Kin Ecosystem that now has over 3 million Monthly Active Spenders.
The Kin Foundation held its monthly board meeting on June 15th and voted to accept the Solana grant proposal. The Validator Node Operators voted 11–0 in favor of the transition, while the active App Developers voted 19–2 in favor of the migration. Over the next few weeks, Kin will be releasing its full plan for the migration to the Solana blockchain.
The Solana Foundation Formed / Initial Council Is Announced
On April 8th, 2020 Solana Labs transferred all IP related to the protocol and 167m SOLs to the Solana Foundation. The Solana Foundation was founded with the mission to advance the adoption of decentralized technologies as a public good. The Foundation plans to achieve broader adoption through education and advancement programs, ecosystem development, critical research around VDFs, cryptography, RSA accumulators, threshold signatures, governance, and more. Council members include James Prestwich (Summa.one), Mable Jiang (Multicoin Capital), and Wolfgang Albrecht (Staking Facilities).
Solana Swag Shop Launches
For the past several weeks, the Solana Foundation has fielded dozens of requests for the ability to purchase gear with Solana branding. The call has been answered, and you can now purchase a variety of clothing, stickers, and household goods with unique Solana branding! On June 23rd, Solana released the official decentralized swag shop in coordination with Origin Protocol.
$5m In Liquidity Mining Volume
The Solana Foundation has seen over $5 million in trading volume since Hummingbot launched the Solana Liquidity Mining Campaign on May 26th! To thank our community for the success of our original campaign, Solana doubled the weekly rewards to $1,250 a week during the month of June. As of July 6th, the rewards will be back to $625 a week.
Some major highlights from our liquidity mining campaign include:
- Total participants who have earned rewards: 150
- Between 75–80 daily active bots trading SOL tokens
- $40k of consistent, minute-by-minute order book depthStart Earning Rewards
The Solana Foundation continued to work hard in June to upgrade and enhance the network: from new Tour de SOL bug testing rounds to significant mainnet beta releases, the momentum of the engineering team continues to pick up.
Some high-level updates:
- Optimistic Confirmations: Solana now — on top of it’s 400ms block times — supports transaction finality within one block
- CLI Tooling: More upgrades were made across the board to solana-ledger-tool and solana-validator
- Documentation Overhaul: The exchange integration guide, alongside other CLI-related docs, were revised
To look at detailed updates from the engineering team, take a look at the GitHub releases page below.
5G Use Case Explainer Video (Anatoly Yakovenko / CEO of Solana)The audience for this newsletter continues to grow month after month, with 30,000 new subscribers in the past 30 days! As reach continues to grow, the Solana Foundation needs to be delivering the most practical and useful information to your inbox. If there is something you would like covered that may be missing, please reply to this email and let us know! As always, make sure to follow us on our various social channels to get daily updates on whats going on in the Solana ecosystem.