Iโve applied for the @solpoolparty whitelist at Pool Party. https://t.co/9KtaHKpAxA
Happy to support this new Solana DeFi and NFT platform by OG solana builders !FF
So you want to party?
We reinvented NFTs, and we're kicking things off with our own collection ๐ฆฉ
Whitelist application is now open to everyone.
$POOL holders get better odds.
Apply here:
https://t.co/tX8lXq89Om
Phoenix did a record $97.4M of volume on 3 Nov.
Around 64% came from one wallet whose taker fees had been overridden to zero.
That wallet made 30,019 BTC trades averaging about $1,965 each, repeatedly opening and closing positions seconds apart.
On $11.7M of the trades checked, it made about $23.5k, roughly 2 bp. At Phoenixโs normal 3.5 bp taker fee, the same strategy would have lost money.
But this wallet paid zero taker fees.
There were 12 zero-taker-fee wallets in total. Together they accounted for 86.1% of the volume.
Phoenix publicly lists a 3.5 bp taker fee, but its published fee schedule does not mention these wallet-level overrides.
Phoenix can change an individual walletโs fees using an admin-only instruction. One such transaction is onchain and signed solely by Phoenixโs admin key.
The largest wallet then largely stopped trading and its account is now empty.
Solana Foundation has actively driven users towards Phoenix through programmes including Frontier Traders, while Foundation figures have repeatedly promoted the venue. Solana co-founder Toly is also an investor in Ellipsis Labs, the company behind Phoenix.
So @PhoenixTrade: who controls these 12 wallets, why were they given zero taker fees, and did Solana Foundation know about these arrangements while promoting Phoenix and directing users there?
OG solana developers.
We brought the first NFT trait swapping tek.
We brought a trading algo with a 70% win rate
We brought auto and perp trading vaulting tek.
We build institutional grade vaulting.
We've been countless things.
And now we're building @solpoolparty. A new era for NFTs, launching, trading, holder incentives and more.
Ive been vague about stuff for a while now as we cooked, and now we get ready to launch the first product releases we've been cooking. No paid KOLs who will dump on you, no extractive history for over 5 years, just cool shit that is fun to use.
I've never paid kols in my entire career, and I'm not going to start now. You've seen the recent Ansem fud and countless other examples of people manipulating charts and emotions for personal financial gains. That's just not us, never has been, never will be.
What we're doing is steadily growing organically. The communities who know us are steadily giving us the support we need to be successful. We're not building this for personal gain, we're building it for you.
Memecoins are fun, but the heart of Solana was built on NFTs and the communities who came together around them. Our goal is to bring that back and to create the next wave of communities on Solana.
We're launching a free mint next week and along side it the platform that we've been building for the entire Solana ecosystem. A platform built to reward holders, inspire creativity and give people something fun and new.
WL for @solpoolparty are over subscribed for the private phase, but we're still taking applications. We will begin approving and assigning WL over the weekend leading into next week. Watch the main account for updates.
I hope you guys will check it out๐ค
Applications for the @solpoolparty WL are closing soon, get in while you can.
We're launching a new NFT platform and bringing NFTs back into the spotlight. This is our official protocol launch and public test collection.
You should probably apply
https://t.co/RbwZ05fRc7
NEW: @solana PRIVACY PROTOCOL @theprivacycash PAUSES DEPOSITS AFTER @binance HACK
SAYS IT WANTS "TO MAKE SURE BAD ACTORS CAN'T USE OUR PRODUCT" WHILE IT STRENGTHENS ITS WALLET SCREENING
WITHDRAWALS REMAIN AVAILABLE
"PRIVACY IS FOR EVERYONE, BUT NOT FOR CRIMINALS"