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2022-11-05 13:40:04 Solana yield manager Texture raises $5 million, enters private beta

DeFi yield platform Texture has raised $5 million in a round co-led by P2P Capital and Sino Global, and is now live in private beta testing. Other investors in the round include Wintermute, Semantic Ventures and Jane Street Capital. The funds were raised in the stablecoin USDC and the valuation was not disclosed.

Texture is a DeFi platform running on the Solana blockchain. Its first product provides higher yields to those looking to stake their SOL tokens. It is using a leveraged staking strategy to achieve this, similar to tokens on Ethereum like the Interest Compounding ETH Index (icETH) and the ETH Max Yield Index (ETHMAXY). Texture uses a few platforms to make this happen. It uses Lido Finance for the core liquid staking element. It uses Solend, which was hacked for $1.26 million on Nov. 2, for lending and borrowing, plus Orca for compounding the rewards.

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2022-11-04 06:13:02 Cloud service provider Hetzner blocks access for Solana validators over TOS breach

Cloud service provider Hetzner has stopped providing its services to Solana (SOL) validators, according to a screenshot shared by stake pool operator SolBlaze on Nov. 2. Hetzner requested the unnamed validator to remove all Solana-related activities on their server to have their account unlocked. The firm stated that its policy forbids the use of its servers for crypto-related activities.

Solana Labs co-founder Anatoly Yakovenko and the Head of Communications at Solana Foundation Austin Federa confirmed this development, urging validators to move their operations to a crypto-friendly node service provider. Hetzner was in the news recently after it clamped down on Ethereum (ETH) node operators. As of then, the Germany-based firm accounted for roughly 16% of ETH nodes; however, that number has been cut to roughly 12%, according to Ethernodes data.

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2022-11-03 18:17:02 1,000 Solana validators go offline as Hetzner blocks server access

The downtime is because Hetzner, a cloud service provider, has blocked all Solana network activity on its servers. Data from the RockawayX infrastructure dashboard show the Solana network delinquent stake ratio at 22% — the highest since May. This ratio refers to the percentage of the Solana stake that is currently delinquent.

Hetzner was already contemplating a ban on crypto node operators, according to a previous report by The Block. The company’s terms of service state that crypto activity is prohibited. At the time, the company’s attention was focused on Ethereum node operators as it was host to about 16% of all Ethereum hosting nodes. This number has since fallen to 12%. Hetzner has taken action against Solana validators. Hetzner did not immediately respond to The Block’s request for comments on the matter.

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2022-11-02 17:02:02 Stepn’s New Solana NFT Marketplace Bucks Anti-Royalties Trend

Amid a recent spate of NFT marketplaces rejecting creator royalties, either through zero or optional royalty models, a surprising new challenger has emerged: MOOAR, from the creators of move-to-earn game Stepn. It has a unique membership model—and enforces royalties, too.

Launching today, MOOAR supports NFTs minted on both Ethereum and Solana, and there’s more than just Stepn’s own digital sneakers onboard. The marketplace also supports other NFTs from both blockchains, and will have its own launchpad for debuting new projects from outside creators, as voted on by GMT token holders. As mentioned, MOOAR will enforce creator-set royalties on secondary market sales—a fee between 0.5% and 10% of the sale price.

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2022-11-01 19:29:02 SOLANA (SOL) NFTS ADOPTION RISES FASTER THAN CARDANO (ADA)

Solana NFTs have seen massive adoption, especially after they got integrated into Opensea.io. The number of NFT enthusiasts on the Solana NFT marketplace has been on the rise. In fact, there are more NFT projects on the Solana chain, which have been growing steadily.

With the faster transaction speed and a relatively lower gas fee, Solana blockchain has been one of the most sought-after platforms for NFTs than Cardano. In fact, the Solana NFT sales have been bigger than Cardano for the year 2022. Solana blockchain is still faster and cheaper than Cardano, which is why NFT enthusiasts are choosing it. Cardano has got a long way to go to compete with Solana blockchain.

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2022-10-31 15:45:02 Fintech and Web3 experts are ‘losing trust’ in Solana over unstable network

The decentralized finance (DeFi) Solana (SOL) network is among the most monitored cryptocurrency projects as the development team works to position it as an Ethereum (ETH) competitor. However, Solana’s growth is threatened by network-related issues like frequent outages.

Despite the concerns, 37% of the 55 fintech and Web3 specialists indicated they still have full trust in Solana, while 30% exhibited optimism the network challenges are part of the growth trajectory. Notably, Solana’s primary cause of outages has not been identified, a factor that divided the experts. Indeed, 22% of the panel stated that the outages are due to low-cost transactions, while the rest cited a bigger issue like centralization.

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2022-10-30 21:43:02 Teleport Creators Raise $9M to Build Decentralized Uber Rival on Solana

DEC, maker of The Rideshare Protocol (TRIP), has raised $9 million in seed funding to power the decentralized Uber rival. It’s not a new concept—Ethereum co-creator Vitalik Buterin theorized it years ago, and other startups have attempted to create a decentralized ridesharing service. But now the Decentralized Engineering Corporation (DEC) thinks it has the right model.

DEC announced today that it has raised $9 million in seed funding to build out The Rideshare Protocol, or TRIP, which is designed to power ridesharing apps from a variety of future companies. They’ll all share the same core technology to connect drivers with riders, and DEC is building Teleport as the first application to prove out the framework. The seed round was co-led by Foundation Capital and Road Capital, with participation from Thursday Ventures, 6th Man Ventures, 305 Ventures, and Common Metal.

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2022-10-29 06:19:02 Solana-based DEX Serum is considering changes to its DAO governance

Solana and Serum developers TDM Blockchain developed the proposal and filed its recommendations to the Serum DAO forum on Thursday. If passed, this will result in the creation of a new community token for the Serum DAO. Serum already has a native token called SRM.

If the proposal goes through, Serum's new locked tokens will confer voting rights to holders. Community members will have to lock their SRM to obtain gSRM to be able to vote on governance proposals in the DAO. Users may also choose to unlock their tokens at any time. Locking or unlocking tokens will take seven days, according to the proposal but TDM stated that the DAO may choose to adjust this timeframe if it so wishes.

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2022-10-28 11:12:02 Solana Reclaims $30 Despite Sluggish Quarter, NFT Sales Soar

Solana’s relief rally comes against the backdrop of discouraging macroeconomics ravaging the entire cryptocurrency market in the past seven months. After tapping an all-time high of $260 in November 2021, Solana embarked on a sustained drawdown, shedding as much as 87.95%.

Apart from being a victim of the market’s general weakness, the Solana network has been experiencing a series of outages which has been a significant concern for its users. Since it launched in 2020, the proof-of-stake hybrid blockchain has been hit by five major outages, with three of them coming out this year alone. According to data from DeFiLlama, the Total Value Locked (TVL) in the Solana ecosystem has plunged from $10.17 billion in November 2021 to $934.55 million.

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2022-10-27 07:48:02 Solana projects reopen after getting funds back from Mango Markets

Two Solana-based decentralized finance (DeFi) protocols, Tulip and UXD, have recovered tokens from Mango Markets, a lending protocol that recently suffered a major exploit. This has enabled both projects to start reopening their services, giving confidence back to the Solana DeFi scene.

The projects were affected when Mango Markets suffered a price manipulation attack and lost $114 million in user deposits. Through negotiation efforts, the protocol managed to recover $67 million of the stolen funds. UXD Protocol and Tulip Protocol have recovered their respective funds and taken initial steps to reopen their individual services.

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