Solana Weekly Recap Week 42 (13/10 – 19/10)

t8SYsNHiOcX LS32JcmTO8QhSrHuTZ5LMljuxYxt4aNDH7JMf Bi9MvnId8sIRxqMXJas1IaEr0LWht8ljs85i4ikCjQiOFteDPz3HAuB8B FWqlPSlAHgwsC Xk4 kTCgRFwuw1xlgZ6cgvWeUQmF4cOvdze8T0rT5vf8XzHTnd0RzqeRmB9l6hw

Key Takeaways

  • Mango DAO offers Hacker $47m to settle without pressing changes.
  • Light Protocol raised $4.2M in seed funding.
  • Magic Eden moved to an optional royalties model.
  • Solanart and Hades Swap now make up 20% of NFT market share on Solana.

Ecosystem Updates

Solana Ecosystem will explode and grow in the next bull run season. Here’s a weekly news update on the Solana ecosystem.

1 – On-chain Data

NFT trading volume on Solana in the past seven days has dropped sharply, from a market share of nearly 25% compared to the whole market, now just over 10%.

However, looking at it as a whole in the past month, NFTs Solana is still getting closer and closer to Ethereum in terms of sales volume.

Lyoe0Yxe5Qye5A9Urcrj Vufqkfml4Iblvzm9 5C8Rhk4L69V4E3Zywd0Defqqdhubmgch6B74Pbdk9Cvq5Yflbu Sn3H4N Ael6Zuz5D1Ku984Zeq2Vsrza32Iqlvdr3Kp8Adpuzgiypk8Pi22Vjcjhk7R5Klrgd

NFTs Sales Volume Among Blockchains (Last 7D and Last 30D) – source: cryptoslam

2 – DeFi Highlights on Solana

 

DeFi Highlights on Solana (Week 42) – Source: Solana Daily

Mango DAO offers Hacker $47m to settle without pressing changes

Bprg0Rigmb5Mwrmdho4V3Aittkdpitz6Eeklyab0Y3Lcvselxmrqiah Rnqruteetgbfevk Ddcysdoauzkun4Dlv66 8Kx3Ocghbmeuquaqv Agt5Ygq5M5Q Cejh

Another sad week for the Solana DeFi ecosystem, one of the platform dex projects on Solana, Mango, is currently facing the 2nd biggest hack in the history of the entire Solana ecosystem.

Mango is a DeFi project that has a large Total Value Locked on Solana. Currently the project is trying to contact the hacker to solve the problem. All information will be fully updated on Solana Daily’s twitter channel.

Light Protocol raised $4.2M in a seed round

I7Ar2Dewrynq4Fjezqm Olfwxzrevcdehiwihjgsrzvw0Roujhjhm Aumwdig3Xcha 4Axhme6Lhxzfxyjphne Pt2Ewracr7Rw6Jbl 3 Flqx0H3Omj8Qtq 9F2A Llobzh8Sv1Guhfei D Vuqkkqd0M5Qclnv 5Uf3Qrrldptv2Hyrsc2Cjlfrw

Light protocol is the first privacy and Compliance infrastructure for Solana.

Light’s infrastructure aims to be Solana’s ZK Privacy Layer, with teams integrating across the ecosystem:

– User-friendly Privacy Protection in Wallets

– Private NFT Minting

– Alpha-preserving Trading Protocols

3 – NFTs Highlights on Solana

NFTs Highlights on Solana (Week 42) – Source: Solana Daily

Magic Eden moved to an optional royalties model

Z S8Qfkutko1Lzz 72Bi4Xggjgbhwbzyhsrquqqr5Gprurwbtfl3Kekjempsgoflfyljc4V8Wmuc1Ehka1La Owqfd1Zptpfnfxtqlwmhesipbusseqmchcjz2M7Mkfizxii3Tfxwrlaccttbk 0Dmnlg4Jgfpq7Hdb24Xihpcdq96Ueeqwjegozg

The 0% royalties fever is currently spreading across the entire NFTs market and Solana is no exception.

Not long after DeGods (the most expensive collection on Solana announced the 0% royalties model update). A series of NFTs marketplace exchanges on Solana have also responded. 

However, to avoid shocking all users, Magic Eden chose a more comfortable way, which is to use the optional royalties model. This allows traders on the exchange to contribute freely. An ingenious handling from the Magic Eden team.

Solanart and Hades Swap now make up 20% of NFT market share on Solana

92Rhwxlqxa Ep Yi4Inwvjnggnqse6Uoaoobmuhg 22O05F40Yosu0Lyhtoclpaajb82Y Yc9Fafkfbxavxlv Ta0V9Femropanlq2O Q1R64U9Ikozevxwsmfkuxruedpp Aj1L4Yprro Zz2D2Sowdymjo85E4Qb4Ukqluijzivzqnpyvnmupl8A

Right now, Magic Eden’s dominance is more clearly threatened than ever. Currently Solanart with V2 update and Hades Swap (new generation NFT AMM) is gradually taking market share from this largest NFTs exchange Solana.

Additional Notable Events

DeFi

NFTs

Follow us to stay updated on everything in the Solana ecosystem!

Website | Twitter | Telegram