฿rokenFiat

Former Exotics Trader and Crypto convert #Bitcoin since 2013, #Ethereum since 2015, #Solana since 2020

[฿rokenFiat @BrokenFiat]

BTC freefall following PBOC's ban on financial transactions -mtgox @ $1050

[Andrew Peel @AndrewLPeel]

Glad to see positive words from our CEO, U.S. Digital Assets EO and a repeal of SAB 121.

It's already been quite the journey to get to this point, yet there is still a lot of work to be done and a long way to go..

..slowly, slowly, and then all of a sudden.

[The Factor Report @PeterLBrandt]

Bitcoin -- the trade of a lifetime
There has never been and never again will be another asset like Bitcoin $BTC
Here is the perspective from my 50-year career as a professional trader
https://t.co/fyHrGRRHLo

[raj �� @rajgokal]

@akshaybd the day that @DegenApeAcademy launched and every user in crypto was banging down the discord, enduring failed launch after failed launch.

that was when we learned that trauma bonding is a feature, not a bug.

[devwifhat @thedevwifhat]

buying $DWH buying Anything Else

\😃/ ☹️

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[฿rokenFiat @BrokenFiat]

@_qudo @StockpileLabs https://t.co/MSos7hGEdH

[qudo @_qudo]

Today marks a special day for @the76devs.

Sure we got airdropped some lunch money, but there's something bigger here... 👇

👶 9 months ago me and some friends, @0xAwera & @solhosty, wanted to create a no frills dev community which is now @the76devs. A place with no NFT attached, no DAO, no token, no WL, no pressure, and devs of all skill levels, web3 or not, would feel comfortable hopping in.

🤯We have seen mind blowing success with this, ~850 Discord members, and the 76 team deserves very little credit for it. Every day I hop into the Discord server there are goated devs way more gigabrained than me from places like @SolanaFndn & @metaplex, helping other community members 🥰 special thanks to @blockiosaurus and @beeman_nl and any of the other OGs.

🔊 Another thing that's pretty cool is @joeymeere and @adlonymous have been essentially leading a daily coworking space in VC while they build @StockpileLabs. Next time you see them in there, feel free to hop in and hang out while you work or say hi.

📺 So many cool projects were being posted in the "shipped-it" channel we wanted to start giving devs a stage to share what they are working on. So we started weekly show n tells! Find them on our YouTube. Last week we went over cHack submissions.

💡 With more people joining and cool things happening we quickly discovered that there was a need to curate an on-chain list of all these awesome community members. If we built this though, devs would need to be verified somehow, it needs to be as transparent as possible and there needs to be a public way to get a live snapshot of all the verified devs.

📔 Enter Devnet Directory (link at @the76devs), an on-chain list of verified Solana developers. Anyone can mint a dev card to apply and we will review your application and verify the NFT. An important feature here is anyone can go to the Devnet Directory website to browser all the devs and also download a snapshot.
- Anyone can apply to be verified
- Anyone can pull the list of devs using an RPC provider like @heliuslabs

🚀 BIG DAY TODAY
And today is a very special day. All of the Devnet Directory members were airdropped two tokens! Thank you @anonchaindev and @thedevwifhat!

All of the pieces are coming together and the vision is starting to play out 😎
- Community has gathered.
- Content is being created.
- A place to show off what you're building and get help.
- Express yourself through an on-chain identity and market your skills on the directory home page or via your profile.
- @solana ecosystem projects take notice of the public good and THE DEVS GET PAID

Thanks for reading! Couldn't have done it without the help of the community and the 76 team.

If you want to airdrop @the76devs, or mint your own dev card, check out the Devnet Directory link in our bio.

[Seeker | Solana Mobile @solanamobile]

85,000 preorders & counting 🔥

Thanks to the community, your faith in us has fueled the #Chapter2 journey and is turning our vision into a reality 🫶

The first #Chapter2 Leaderboard snapshot is just 24 hours away 📷

Preorder & share now https://t.co/LMnynuZBhW

[Swervor @TheSwervor]

A coin for the people, but WEN?

I thought it'd be fun to write some of my thoughts and explanations leading up to the $WEN launch. I also want to say a big thank you to the entire Jupiter team for having one of the best teams and communities to work with.

Over the past almost 2 years of chewing glass, we've been using @JupiterExchange within our protocols to power our token swapping.

As Jupiter lunched their DCA feature, we immediately decided to integrate this into our app. Giving users/traders more optionality when trading fractional tokens. It sparked a fun relationship between both the Jupiter and Ovols team for what can be done with NFTs.

After collaborating on a few things, we started working on the Jupiter Start program together and found out the two communities had close ties. Lone behold, there ended up being some chemistry between owls and cats.

@weremeow is an essay machine as crypto twitter knows, who also drops some quality poems. Thinking of cool ways to bring those poems to life, we thought about fractionalization and making a collection out of those poems so everyone can have a share. It'd be fun having a collection of poems that everyone can have partial ownership in.

As the $JUP launch was getting closer, it was clear there needed to be a lot testing. Especially running through the brand new Jupiter LFG Launchpad. Solana really hasn't seen a launch of this magnitude.

Someone brought up the point, why not launch a test token, which of course meow ran a poll to see that everyone is a degen and wants more memecoins.

Putting an owl and cat brain together, we figured why not fractionalize a poem and use the fractions of that poem as the coin to test the Jupiter launch.

It all made sense, bring Meow's first ever NFT to life, disperse ownership of that poem between 1M+ wallets to give back to Solana, create the first community coin based off a fractional NFT, and do a massive test for the launchpad ahead of $JUP.

Putting more and more together, we began creating exciting and experimental ways to make this community coin unique. Now being a fractionalized NFT and stemming from meow's wen poem "A Love Letter to Wen Bros", we can enable something much much larger.

$WEN

A coin with a lot on its plate.

- The first community coin based off a fractional NFT
- The first official launch on Jupiter's LFG launchpad
- The first NFT minted on the WNS NFT standard
- Distributed to 1M+ active Solana wallets

$WEN was born to push the limits of Solana.

Using tech from @OvolsNFT, Meow's poem was split into a trillion pieces. These fractions trade just like any normal Solana token. Each $wen token equals proportional ownership in Meow's poem.

Wen embodies a powerful crypto message. It means you are wanted, people are looking for your next move. Even if it's just anons on the internet.

We wanted to create a coin to give back to Solana and show what's possible on this chain.

Allocations

Not only are we testing the Jupiter launchpad, but we are also giving back to those in the community. The allocation is as simple as it gets.

70% Airdrop | 20% LP | 10% Treasury

We might as well create one of the most exciting airdrops and entrances in preparation for the $JUP launch.

1M Recipients

The airdrop will be equally distributed between 1M+ wallets. Being split between a variety of active users on Solana.

The 70% airdrop is allotted to:

- Active Jupiter wallets from the last 6 months
- @OvolsNFT holders
- @MadLads holders
- @tensor_hq holders
- @Claynosaurz holders
- @GalacticGeckoSG holders
- @DegenApeAcademy holders
- Genesis Saga Token holders

The NFT collections were simply chosen based on market-cap to keep things simple.

The airdrop is equally distributed between every single wallet.

I'm curious to see how all the degens play with a 70% airdrop when there are no whales or users with large allocations off the bat. (of course all you solana manlets might have several wallets with allocations)

Launch

The launch of $WEN will take place on the Jupiter LFG Launchpad on Friday Jan. 26th at 3PM UTC/10AM EST.

The Claim window will be open for 3 days, and after the claim window has finished - all unclaimed $WEN will be burned.

This launch will be a beast of its own for Solana to experience. On-chain launches are quite a different animal with a ton of coordination needed between infrastructure partners.

Users will be able to watch the exact countdown for when trading/claiming goes live during the launch. People also have the ability to setup DCAs and limit orders before the launch starts. With all of these measures set in place, Jupiter will allow for the most transparent coin launch possible.

It's pretty excited to see this new token launch layout, IMO it will set a precedent for all token launches going forward.

Prior to launch you can setup:

- Priority fees
- Slippage
- DCA orders
- Limit orders

This allows everyone the most fair opportunity at the coin launch.

WNS 0.0 - Wen New Standard

On top of everything else, $WEN stems from a fractional NFT that was minted on a new NFT standard.

WNS is an experimental NFT standard currently with only one NFT minted - Meow's poem.

WNS is a distributed coalition of ecosystem partners, beginning with @OvolsNFT and @JupiterExchange, building toward a more decentralized future for Solana. It is supported by the Wen Foundation, a Solana public goods organization.

Wen

I think it’s incredibly fun being able to test the Jupiter platform and test the limits of Solana, all while creating an impactful community coin.

@wenwencoin is designed to give back to the community in meaningful ways that we’re excited to explore. Let’s create some chaos, break barriers, and grow the pie 🥧

[InvestAnswers @Investanswers]

Bitcoin ETF Fund Flow Scorecard - Good & Bad News

The bad news
1) Grayscale dumped a ton of bitcoin
2) For the 8th day in a row, GBTC transferred an additional 18,500 Bitcoin to Coinbase.
The good news
1) The majority of the sell-off involved FTX, which has now completed its sales, offloading around 2.5 million shares daily for 8 days.
2) Additional positive news: Despite the GBTC (Grayscale Bitcoin Trust) sell-off, there has been a net inflow of $1.1 billion, equivalent to 28,000 Bitcoin today.
3) Growth observed in the FBTC (Fidelity Bitcoin Fund) - faster than Blackrock.

[Historic Vids @historyinmemes]

What does this teach you about life?

[Seeker | Solana Mobile @solanamobile]

30,000 preorders in the first 30 hours.

It's small step towards realizing our goal of making web3 universally accessible.

Your faith in our vision means the world to us. We're just getting started 🔥

Preorder now 👉 https://t.co/nYR9apGGIT

[฿rokenFiat @BrokenFiat]

@alistairmilne Don’t fade $SOL until you have used the chain.

[Franklin Templeton @FTI_US]

On Solana, we see Anatoly’s vision of a single atomic state machine as a powerful use case of decentralized blockchains, lowering information asymmetry. And we are impressed by all the activity seen on Solana in Q4 2023
-DePIN
-DeFi
-Meme coins
-NFT innovation
-Firedancer

[฿rokenFiat @BrokenFiat]

@solanamobile 👀👀

[zerohedge @zerohedge]

Oh shut up

[฿rokenFiat @BrokenFiat]

Data, Narrative & the most fun, resilient, passionate community aligns for $SOL this year 🔥

[Solana @solana]

1/ 2024 is the year of Solana 🐲☀️

The network is strong heading into 2024, with recent reports highlighting the 2500+ developer community, 40.7 million daily user transactions, & mature tooling.

https://t.co/VSgdask38G

This is why Solana is the place to build in 2024👇🧵

[Saga Owner Perks ◎ @solanasagaperks]

why you should include @solanamobile users in whatever you’re building in one picture.

these were free btw

[mert @mert]

> be me
> wake up
> very first msg in the morning: bombarded by "research" about Solana attack — popularized by ICP CEO (lol) — being spread by industry execs and even chief security officers
> from "ETH University" (the name is unrelated, but simulation confirmed)

obviously, toly will be way too kind about this, but

let's be clear:

if your first instinct is to publicly spread non-rigorous "research" for engagement instead of following ethical, and proper security disclosures — that is messed up, and borders on malice

everyone spreading this "paper" absolutely *knows* this

people wonder why I'm "mad" — it's because this industry is malicious and adversarial to put it kindly, everyone just sugarcoats it

in any case, the research is non-rigorous in practice, to say the least:

1) with a validator set of 3 (min 4 needed for BFT)
2) on old code that has been patched since (2022 commit)
3) requires a duplicate block and a perfect turbine partition (infinitesimally small probability, and could be tweaked anyway)
4) run on a single PC with low specs
5) if I'm wrong, there's a 400k bounty on testnet!
6) obviously ignores social consensus

if we're going to "update the system" — we need to be better as an industry

[Phantom @phantom]

As we’re wrapping up the year, we want to hear from you.

How are you enjoying Phantom? What features would make your experience better?

Please let us know in the survey below👇

[aishpool @4shpool]

Folks, the spotlight has been fun reporting on the FTX estate's solbags, a role I somehow filled by default, due to the lack of credible information. Here I will take my leave from this job. This will be my last post on the topic, as I find this chapter is coming to a close.

From the various stake/withdraw authorities I uncovered, the FTX estate's unlocked token supply is nearly exhausted (~338k in unlocked stake accounts).

Beware that these coins are now out in the wild, and it is highly likely that there is substantial reserves on exchanges (Coinbase and Binance), or with trading desks. And there are still some LSTs they have to get through, too (several 100k mSOL and jSOL). So, as always, this is not financial advice; I'm not responsible for your trading activities.

In all, though, the estate has moved a metric shit ton of coin. Galaxy seems to have done a good job of preventing adverse market effects (RIP shorts). Estimates on CT were all over the place, but by my original calcs, the stake accounts started at 62M SOL, now down to 42M total. About 20M has moved (less what hasn't been sold yet), and $100M's recovered for FTX claimants.

The effect on decentralization is mixed. The Alameda private validators were shut down, however, to their credit, their largest stake key EhYX...Mtxx had actually staked coins at nearly every voting node, which is now in decline. With changes proposed to SFDP, too, it will be interesting to see how this evolves. I still believe stake pools have a big role to play in maintaining a wide and healthy validator set, and protecting the Nakamoto coefficient (which will be 100% necessary).

Going forward, it may be helpful to think of the the total locked stake's [roughly] linear unlocks as an increase in the total inflation rate. Til Feb 2025 unlock, inflation will actually exceed the pace of unlocks by more than 2:1. 5.62% + 2.36% = 8% (very crude numbers here)

From hereon, I urge you to use the many tools available to you, and learn to read the chain for yourself, call APIs, and dig into the data. The universe of Solana data is vast, and there is alpha in it, if you can learn where to look. Tools and communities around products like @heliuslabs, @solanafm, and @flipsidecrypto have been instrumental in my growth as a chainsplainer. For my part, I've done my best to present data in an accessible way, and will continue to make it available on https://t.co/i0DgO93uTC.

Thanks for everything.