Solana Flips Ethereum’s 7 Day DEX Volume, AI Data Layer On Solana & More

Welcome back!

This is J264G and this week I’ve got these titbits for you:

• The Flippening: Solana’s 7 day DEX volume is now larger than Ethereum’s.

• Solana x Grab: Grab’s 35M users can now use USDC-SPL to pay for services.

• AI Data Layer: Grass is solving the data provenance problem with Solana. 

Solana turned 4 years old — another point scored against father time, I see you!

And there’s no better birthday present than an app store flippening — change my mind 👻

We’ve got a lot to discuss, so let’s get right to it!

Click on any underlined heading/hyperlink to learn more.

Spotlight

Solana Mindshare Champions

In the burgeoning world of crypto, where numerous blockchains vie for dominance and adoption, mindshare is a pivotal success factor for Solana.

Here’s why: 

(1) Adoption

For blockchains to reach mainstream adoption, platforms such as Solana must achieve and maintain high mindshare. Awareness and understanding of the capabilities and benefits can demystify crypto and Solana for the general public, paving the way for broader acceptance and use.

(2) Differentiation

Mindshare also plays a critical role in differentiation. Solana's USPs become more widely known and appreciated as its mindshare increases. This differentiation is crucial for attracting more developers, investors, and users. 

(3) Trust

For a technology that underpins financial applications, digital assets, and more, trust is non-negotiable. In this context, Solana will capture more mindshare the longer the network can demonstrate its potential for longevity and resilience in the face of challenges. 

(4) Community

The strength and engagement of the community surrounding a blockchain are directly influenced by its mindshare. For Solana, a high level of mindshare continues to cultivate a robust and vibrant community of developers, investors, and users who contribute to the ecosystem's growth.

(5) Enterprise

Regarding enterprise adoption, mindshare is equally important. Businesses looking to leverage blockchain technology will likely consider platforms with high visibility and proven track records. Consequently, enterprise adoption of Solana has been ramping up over the last couple of months.

(6) Regulation

The regulatory environment for blockchain technology is evolving, and platforms with significant mindshare, such as Solana, are better positioned to engage with regulators and influence policy. A well-known and respected platform can advocate more effectively for favourable regulatory conditions, benefiting the entire crypto ecosystem.

So, which projects are at the very forefront when it comes to growing Solana’s mindshare? 

I have some thoughts 😏

Solana Mindshare Champions

• Wallet: Phantom 

• DeFi: Jupiter

• Payments: Sphere

• Memecoins: BONK & WIF

• NFTs: Mad Lads & Claynosaurz

• AI: io.net & Grass

Solana is well on its way to make self custody delightful and inexpensive for people outside of our crypto echo chamber. 

Having said that, we have a long way to go — but currently I can't see any other blockchain ecosystem, apart from Solana, that can sustainably attain mainstream adoption. 

Let’s seize this window of opportunity!

Numbers Of The Week

News Bites

Solana x Grab: Grab, a super-app for ride-hailing, food delivery, and digital payments, now allows its 35 million users to top up their accounts with USDC-SPL (Solana-based USDC). What does this mean? Well, crypto natives now have a valuable off-ramp, and normies get a low barrier i.e. frictionless touchpoint with crypto and Solana.

AI Data Layer: The goal of Grass is to solve the problem of data provenance by creating a system where developers can verify the origin of training data. The team aims to achieve this with the help of a Solana-based L2 that can process 1 million transactions per second. 

Arthur's Ponderings: Arthur Hayes argues that (DeFi) primitives are exclusively built on Ethereum, and either move to or are replicated on other L1s. However, he also shared what’s “mind-blowing” about Solana (timestamp: 1:01:00).

Memecoin Frenzy: Memecoins on Solana continue to boggle my mind. The newest development? Presales. Since March 12, these have enabled 27 memecoin projects to raise ~655,000 SOL ($122.5 million).

The Great Reversal: Last year, deGods and y00ts migrated to Ethereum. Until now, we haven't seen any project migrating from Ethereum to Solana. With Killabears — an Ethereum-based gaming project — that's about to change. 

Mango Rewards: Did you know that you can earn weekly rewards by trading on Mango? This week, you can win another 4070 GPU by trading $RNDR — start here!

Caught In 4K

Weekly Takes

Keks & Giggles

And that's a wrap!

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Talk soon!

J264G

_{DISCLAIMER
None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research. Lastly, please be advised that we discuss products and services from our partners from which our team members may hold tokens/equity.}