Tokenizing GPUs On Solana, Trading Solana Memcoins With Apple Pay & More

Welcome back!

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

• Tokenizing GPUs: Compute Labs to introduce use cases for tokenized GPUs.

• Applefying Memecoins: Moonshot enables memecoin trading via Apple Pay.

• New Phone, Who Dis: The $99 JamboPhone now supports Solana tokens.

It’s ETH ETF week!

No need for any fluff, just follow this dashboard to keep track of the flows ⬇️

Now, let’s jump right into this week’s newsletter!

Click on any underlined heading/hyperlink to learn more.

Spotlight

The Stablecoin Hub

Stablecoins on Solane have demonstrated remarkable resilience and steady growth over recent months, underscoring the network’s robustness and increasing appeal to stablecoin issuers. 

Having said that, Solana distinguishes itself from other networks through its unique ability to attract and retain heavily regulated stablecoin issuers such as Circle and PayPal.

Today, Circle's USDC is the most dominant stablecoin on Solana. Its regulatory compliance and widespread acceptance not only boosts Solana's utility but also attracts a broader user base looking for reliable and fast transaction options. Similarly, PayPal's introduction of PYUSD on Solana marked a significant milestone — bringing immense credibility and user trust to the network’s stablecoin space.

The commitment of major stablecoin issuers to Solana has far-reaching implications for the network's role in the global financial system. For instance, it opens up new opportunities for developers and businesses to create more innovative, scalable, efficient platforms that are able to build trust among users and regulators, paving the way for broader adoption of blockchain-based systems in mainstream finance.

We're already seeing the first hints of stablecoin powerhouses emerging on Solana. 

1. Sphere: Simplifies crypto on-ramping and off-ramping by leveraging stablecoins such as USDC.

2. Kamino: An over-collateralized lending platform offering dynamic interest rates. Kamino also serves as one of PayPal's largest PYUSD partners on Solana.

3. Lulo: DeFi platform that automatically manages users' USDC and PYUSD deposits, optimising for the highest APY.

4. Decaf: Crypto-to-cash platform that enables users to off-ramp USDC to local currencies through the MoneyGram network.

5. Helio: Facilitates crypto payments for e-commerce, including USDC transactions via Solana Pay.

These examples illustrate Solana's evolution into a hub for compliant, stablecoin-powered platforms that can complement, and potentially replace, traditional systems in mainstream finance. 

The potential for innovation in this space is vast, with substantial opportunities ahead — our role is to act boldly to break up the antiquated finance platforms of today and pull the future forward. 

The future with Sphere & Co looks promising, and I'm excited to see where they will take us next!

Chart Of The Week

News Bites

Applefying Memecoins: Moonshot, an iOS app that enables users to buy and sell memecoins on Solana with Apple Pay, recently launched. The app also features a Venmo-like functionality, enabling users to send memecoins to others via usernames.

Simplifying Crypto: With MoonPay, users can now directly buy SOL and USDC with USD on Raydium, Solana's largest DEX by TVL and volume. The integration also supports selling SOL and USDC for USD, facilitating easier fiat off-ramping.

New Phone, Who Dis: JamboPhone, a $99 Android device tailored for emerging markets, now supports Solana tokens in its JamboApp. Also, users can earn rewards, primarily in SPL USDT, by completing quests. The phone is available for purchase via Solana Pay here. 

RWA Tokenization: Etherfuse, a real-world asset (RWA) tokenization platform on Solana, has secured $3 million in seed funding. The platform currently offers four short-term tokenized debt products called "stablebonds".

Tokenizing GPUs: Speaking of investments, Compute Labs has raised a $3 million pre-seed funding round with the goal to tokenize enterprise-grade GPUs, bringing about a vast array of use cases. Currently, the information about Compute Labs is vague and details are limited, so it will be interesting to see how the team performs in the coming months.

Caught In 4K

Weekly Take

Keks & Giggles

And that's a wrap!

If you'd like to reach me, respond to this newsletter or reach out to me on 𝕏.

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.}