Solfate
Welcome back to the Solfate Snapshot, covering the latest updates throughout the Solana ecosystem! Over the last week, we’ve seen a major announcement coming out from Solana about blinks, a new primitive turning on-chain actions into sharable links across the web, new projects coming out of stealth, and much more!
Here’s the latest from our team at Solfate and the Solana ecosystem:
Solana Introduces Blockchain Links (Blinks) with Dialect
The Solana Foundation announced the launch of a new primitive known as blockchain links, or blinks. Blinks allow users to initiate Solana Actions on any website or app, bringing the Solana experience past traditional dApps and complex interfaces.
By bringing Solana Actions to any website, this enables developers to create a wide variety of activations such as:
- Payment requests through text
- Buying NFTs directly on X
- Voting on DAO proposals directly from group chats
- Swapping tokens from social media platforms
You can think of a blink as sharing a URL that can auto-magically be converted into a blockchain dApp widget on any website.
The best part: blinks on desktop web browsers are currently handled by browser extensions. These extensions handle fetching the metadata, wallet connection, and transaction signing flows. It is all handled by the browser extension.
- Nick Frostbutter, co-host of Solfate and core contributor for blinks/actions
For more information on blinks, check out the full blog post by the Solana Foundation here or Solfate co-host Nick’s personal newsletter post about why blinks are so powerful.
Colosseum Closes $60m Fund to Support Solana Founders
Colosseum is an organization dedicated to powering Solana hackathons, accelerating leading startups, and investing in breakout crypto projects. With its continued focus on expanding the Solana ecosystem, they have announced the closing of a new $60m fund dedicated to supporting early-stage founders on Solana.
For more thoughts on the first fund from Colosseum, read the full blog here.
Solfate on DRiP
Over the past few weeks we have been pumping out great content through the DRiP platform, be sure to subscribe to our page for all the latest podcasts from our team!
New Solfate Podcast Episodes
Over the past two weeks, we had the pleasure of hosting two great founders, Dan from Heavy Duty Builders and Proph3t from MetaDAO!
Check out the full episodes here as we discuss topics such as building developer communities, futarchy, governance, and much more:
- Blockchain Developer Education with Dan
- Exploring Futarchy: Governance by Markets with MetaDAO's Founder
VanEck Files for First Solana ETF in the USA
Global investment Management firm VanEck becomes the first to file for a Solana ETF in the United States, announced earlier this week by the Head of Digital Assets Research Matthew Sigel.
With Bitcoin and Ethereum gaining approval for their ETFs in the USA earlier this year, all eyes are on Solana to be the next. In the SEC filing, VanEck outlined that the VanEck Solana Trust would be listed on the Cboe BZX Exchange, pending approval by the SEC.
For more thoughts on the approval of a Solana ETF in the US, listen to Matthew Sigel’s thoughts on the latest Bloomberg Crypto interview here.
Firedancer v0.1 Bug Bounty Announced
With the upcoming launch of the Firedancer validator client, ImmuneFi has launched a new bug bounty program with up to $1 million dollars in rewards, starting July 10th and ending August 21st.
For all the details regarding the bug bounty, check out more information here.
Circle Achieves MiCA Compliance
Circle announced earlier this week that they became the first global stablecoin issuer to achieve MiCA compliance. Through the company’s French license, $USDC and $EURC issuance is now active under MiCA compliance regulations in the EU.
Part of this milestone is the allowance of Circle Mint to business customers throughout the EU, giving these businesses access to simple minting and redeeming USDC and EURC. Out of the current top 10 stablecoins in the crypto market, $USDC is currently the only one with MiCA compliance, signifying a major success for stablecoins and the broader crypto industry in the EU.
For more information, read the full blog here.
ZK Compression on Solana: By Light Protocol & Helius
In partnership with Helius, the Light Protocol team announced a new primitive on Solana called ZK Compression, allowing developers to build applications at scale. Utilizing ZK Compression, developers can compress their on-chain state, drastically reducing state costs while maintaining all the security and performance features of Solana.
The ZK Compression primitive includes:
- Compressed tokens
- Compressed PDAs
- Open-source Photon indexer by Helius
- RPC Support from Helius
- All-in-one CLI for local development
ZK Compression is now live on the Helius public zk-Testnet, if you’re interested in building with ZK Compression check out the documentation here.
Elmnts Launches From Stealth
A new RWA protocol has come out of stealth in the Solana ecosystem called Elmnts, aiming to provide users with access to oil & gas mineral rights and royalties. By building a commodities tokenization and lending ecosystem, the Elmnts team is focused on making commodity investing more capital efficient while offering a separate source of yield outside of crypto.
The Elmnts beta platform will be released over the next few weeks for early registered users, where they will be able to begin investing in mineral rights and royalties.
Read the full announcement for more info.
DRiP Acquires Vault Music
Earlier this week, Vault Music announced its acquisition by DRiP, bringing its tokenized music distribution platform to the masses. With the addition of Vault to the DRiP platform, we’re looking forward to seeing a much wider array of content coming through the platform, enabling large artists and singers to distribute more content through DRiP.
Capsule Introduces Solana Support
Capsule has recently announced their support for Solana, allowing users to create embedded wallets powered by Distributed MPC and passkey!
The Capsule SDKs will allow users to upgrade their wallet experiences to offer customization, multi-device support, multi-chain SSO across dapps, and more seamless recovery methods.
If you’re interested in using Capsule, check out their website for more information.
That’s all for this edition of the Solfate Snapshot! Be sure to subscribe for all the latest in the Solana ecosystem, keeping you up-to-date with all the latest product launches, stories, fundraiser, and more.