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.
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
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
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
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
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
- Drift Protocol partnered with Pyth Network for the launch of Drift v2
- APT token is now on Friktion Protocol
NFTs
- Metaplex Candy Machine v3 is now live
- Magic Eden is working with Only Raindrops to make Boots a reality
Follow us to stay updated on everything in the Solana ecosystem!
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