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- 🍬 Trippin' on Hype
🍬 Trippin' on Hype
Tender Kiwi
May 27, 2022
GM and welcome to SOL Sweet. More red this week, but one part of the Solana ecosystem tastes sweeter than ever. So what happened on the sweetest blockchain this week? Sit back and let us tell you:
The latest hyped NFT project was...
About last week
Brave browser adds Solana
Extra sweets
In a nice round 2 minutes and 10 seconds 🐵
The latest hyped NFT project was...
...all hype?
Not so fast.
On the surface it may seem like the Trippin' Ape Tribe hasn’t lived up to the hype.
At the time of writing the floor price sits at ~55 SOL (~$2,200). That’s about a third of other blue chips, like Okay Bears.
Or that might just be the case if you’re out here making bold predictions like this 😅
Last week I said I think @TrippinApeNFT will flip @okaybears floor price in less than a week after mint.
Floor prices have adjusted to the downturn. Perfect conditions for another hyped Solana NFT project to explode.
Well folks, it's mint day. Let's see how this plays out!
— Toby 🥝 (@TenderKiwi)
3:03 PM • May 24, 2022
But dig a little deeper and you'll see TAT has done some numbers - 332k SOL volume (~$13.5m at current price). In three days!
More impressive is what the project has helped Solana NFTs do:
Magic Eden did more $ volume than OpenSea in the 24hrs after TAT minted
Second SOL project to top all NFT rankings (ETH & SOL) in a 24hr period
And maybe more impressively is how they’ve done it.
Trippin’ Apes were clear from the start they were a pfp (profile picture) project. They weren’t trying to come up with some unique take on staking or utility.
It was all about community.
A massive quarter of a million discord members is some community. And it feels like Solana projects have learnt from Ethereum ones before them.
As Ethereum NFTs start to slow down, Solana seems ready to ramp up.
Maybe it’s no surprise that an ape project looking somewhat similar to the most successful NFT project ever (Bored Ape Yacht Club) has helped lay the foundation for Solana to do that.
In the next few days we will see two more hyped SOL projects launch - Kings of Da Street and Jikan Studios.
If you missed the NFT craze through 2020-21, now feels like the perfect time to jump into NFTs, thanks to Solana.
What bear market? It’s ape season!
About last week
Last week we tried to explain the latest Solana update in plain English.
I even turned it into a tweet thread.
Well, now it's confession time. I messed up on point 2:
Stake-weighted transactions replace the current first-come-first serve approval method. Validators will now submit transaction volumes aligned with their amount of SOL staked. This is a key feature in helping to prevent bots from spamming high numbers of transactions.
The Solana co-founder pointed this out:
@Austin_Federa > Replace the current first-come-first serve approval method.
This isn't right. Stake-Weighted connections guarantee that a small staked validator cannot be starved by the rest of the network, staked or unstaked. It's not a prioritization scheme, its quality of service
— SMS T◎Ly, 🇺🇸 (@aeyakovenko)
3:03 PM • May 23, 2022
Sit down Kiwi, be humble.
So let's try to explain point 2 again, in plain old English.
Stake-weighted connections acknowledge the need to allow smaller validators to submit transactions even during times of high network volume. This is a key feature in helping to prevent bots from getting priority by spamming high numbers of transactions.
Always be learning 😉
Brave browser adds Solana
Brave browser announced Wednesday they've added Solana support.
Brave is a privacy focused web browser that's been leaning more and more into web3.
They make it easy for web3 users with their wallet, Ramp, built right into the browser. No need for extensions - that's a win.
And adding the ability to buy and transact SOL to their 50 million monthly active users is a big win for Solana!
Brave bet on web users wanting privacy from big tech. Now they're betting those same users will eventually migrate to web3.
They do have a long way to go to overtake Chrome's 2.65 billion monthly active users. But with Solana on board, they're making the right moves to get there.
Extra sweets
The 8 Best Places to Stake Your SOL according to Crypto Daily.
Phantom wallet will block suspicious looking NFTs. No word yet on whether this includes rug pulls.
Near's USN is now available on Solana. Warning, it's a decentralized stablecoin like Terra UST so you should probably avoid it.
Exotic Markets Launches Dual Currency Note on Solana.
Okay, another week of news and learning done. Did you find something interesting, or learn something new? Hit reply and let us know.
And please, share this with that friend who should be keeping up with Solana. It'll only take about 10 seconds to hit forward, type their name, and send. Thanks!
- Toby (@TenderKiwi)