GK

[GK @don_kong]

@Warlens55 @xdownloaderbot please download this

[Adam @Adam_Tehc]

This month, Perp DEXs have done 19.5% of the volume that perps on CEXs do.

From less than 4% last year.

[GK @don_kong]

@hylo_so all the way 🙌

[Retired Chad (Monad Arc) @retiredchaddev]

After a ton of people asked me for this, decided to review the newer stablecoin landscape on Solana. Some of the comments maybe harsh, some may have outdated info, some may be outright wrong. If you think these are incorrect, feel free to correct me below.

So, there are mainly 6 emerging ones. PST from @humafinance, hyUSD from @hylo_so, USD* from @perena, USDC+ from @reflectmoney, ONyc from @onrefinance, USX from @solsticefi, CRT from @DeFiCarrot

PST - You deposit stables and lock for durations, there are borrowers who request for loans underwritten by evaluation agents. Basically like a bank but without any of the regulatory oversight and a million constraints of being a bank. Counterparty risk is the largest risk through the cycles I have seen in crypto. I cannot even see who the qualified borrowers are and understand what sort of risk I am taking for a few % higher yield.
Would I touch this? Not ever. Maybe if I understand the borrower's profile, but even then unlikely.

hyUSD - You already know my opinions here. Safest of the lot. Comes with its own risks of what happens if there is absolutely no demand for xSOL in prolonged bear and collateral ratio goes below 100%. I personally have 8 figs in here. The thing that keeps me here is that there is no counterparty risk, I know exactly where the yield comes from. And in the worst case scenario, I know when to get out and everything is transparent.

USD* - This is supposed what INF is to LSTs but for stablecoins, basically being LP token for yield bearing stables. But I see yield is being generated primarily by delta neutral strategies (81%), so I am not really sure how the whole protocol actually functions tbh.
Will I put funds in here? Maybe once I understand how it functions and there's a transparency dashboard or something. For now, I am still not clear where the yield is coming from, and I see it as a non-transparent tokenized hedge fund. Not going to touch it.

USDC+ - Supposed to generate yields from cross margin farming, but for now, just a drift lend wrapper. As such, a waste of time for me to look into in current form. Maybe when it adds other stuff.

ONyc - Basically corporate debt note that lets the company use the provided capital for reinsurance underwriting. Profits from the business activities becoems the yield.
Way toooo risky for me. I want my stables to be stables. I wouldn't even lend my USDC against ONyc collat for fear of bad debt.

USX - Ethena of Solana. Actual delta neutral trading. It is as risky as their underlying engine is. For Ethena, yields have dropped off and TVL shrunk by half over the last few months. I might add this if there are transparent reserves reports published and a long enough history of operating through flash crashes. I don't like the 7 day unstake period of eUSX but on-chain liquidity between eUSX and USX is not bad. Will I add this? I have a little for the token farming, but to add major bags, I will see how the APY holds and how they perform over the next 6 months.

CRT - I am an investor here, so maybe biased. Basically a tokenized on-chain fund, but you can see where all the funds are deployed at any point in time. Most of these are in low risk avenues like Kamino, Jup lend and Drift lend, with a small portion deployed to gauntlet and tradeneutral for higher on-chain delta neutral yield.

So, of these, I have a ton of hyUSD, a good chunk of CRT and a tiny dabble of USX (for the token drop).

[Neil Shahani @neil_shahani]

ORE holders revenue was just added to @DefiLlama

The protocol is currently ranked #2 on @solana in the last 24h, 100% of the revenue goes to buybacks

flip @Pumpfun

[clarence.sol @ODClarence]

A protocol on @solana called ORE has officially flipped @ethereum in daily revenue.

$ETH 24h revenue - $605k
$ORE 24h revenue - $623k

Build on the rev chain, build on Solana!

[mert @mert]

you are now finding out how many of you would have panic sold bitcoin on the way up

[Moo | Elemental @moothefarmer]

This is INCREDIBLY bullish for Solana - and not for the reason you might expect.

I’ve had the privilege of witnessing this ecosystem from early on - from a bold experiment built on Proof of History, through the network outages and being at the center of every FUD post, to the crushing fallout of FTX that tested every conviction. Yet Solana's community endured. It rebuilt brick by brick (or chewing glass as we like to call it), through a brutal and what seemed like a forever bear market, emerging stronger, faster, and more resilient than ever.

Today, Solana stands as one of the most dynamic and innovative networks in the industry. I feel it is unmatched in many dimensions and years ahead of much of the competition. Its journey is more than a blockchain success story; it’s a living case study in perseverance, community, and engineering excellence - one that many will study (and undoubtedly try to replicate) for years to come.

When Solana first launched, it was a barren frontier. There was little to do on-chain, and in each major category, we had perhaps a single dApp serving a small but passionate community. Some of those early projects have since become immensely profitable entities; while others faltered along the way - often for reasons unrelated to technology. Some projects remain deeply rooted in the Solana ecosystem, while others have expanded across chains in pursuit of new horizons.

Below are a few examples of how key sectors within Solana have evolved, and continue to evolve. This is by no means exhaustive, I will miss out many projects and categories that deserves recognition, so please highlight it in the comments to share the love.

[ Swaps ]

@Raydium was the first OG DEX on the chain (fun fact: they were the first dApp I ever interacted with on Solana). Then @orca_so came about, and eventually @JupiterExchange building on top as an aggregator.

As time went on, you other challengers entered the arena - @kamino come out with their own swap version, and most recently @Titan_Exchange looking to challenge Jupiter's dominance.

[ Perps ]

@mangomarkets lead the charge (sad to see how it ended), then @DriftProtocol and @ZetaMarkets came into the mix. Zeta is looking to evolve into @bulletxyz (ahem @Tristan0x wen launch?), while Jupiter Perps, @AdrenaProtocol , and @flashtrade brought in your vAMM/pool based architecture. And then we had our first perps aggregator @ranger_finance .

Most recently, @bulktrade has been making waves!

[ Lend/Borrow ]

@save_finance (used to be known as Solend) was the OG in this space. Eventually more joined the fray including @kamino @marginfi (still waiting for my airdrop) and @DriftProtocol . There was much drama with the Marginfi team, and Solend eventually decided to expand into other networks.

Fun fact: The Kamino team started with a different product - @HubbleProtocol which was a stablecoin project. They pivoted heavily into Kamino and grew it into the behemoth it is today.

Eventually this space also gave birth to an aggregator: @uselulo (formally known as FlexLend), and most recently @elementaldefi launched their latest product Elemental Lend to compete in this space.

[ Wallets ]

Sollet. Gosh. Sollet. RIP (thanks @SBF_FTX )

Then @phantom @solflare and many others started entering Solana. Phantom, like Solend, decided to venture into other chains while Solflare continued to double down on Solana. Big shoutout to the Solflare team and @vidor_solflare for also gifting me my very first premium subscription for Twitter! This blue checkmark is kindly sponsored by them - one of the best gifts till date 💙

There was also @UltimateApp (with @Henry_DeFi making it famous through this sticker bonzana). Ultimate got acquired by Jupiter which eventually gave rise to Jupiter Mobile.

And now we have too many wallets for me to track!

[ Validators ]

It started with @solanalabs with their validator client. Then an upgrade into Agave and @jito_sol appearing with their Jito-Solana client, allowing for MEV-aware block production (allowing validators to be substantially more profitable).

Down the line, headline news came out from @jump_firedancer , creating a new validator client from the ground up with Kevin Bowers amazing everyone with his deep technical expertise.

@doublezero got launched by @Austin_Federa , of which a third of our Solana validators are actively part of. IBRL.

And now, @harmonic_gg joins the fray to build the first aggregator client!

[ Conclusion ]

Solana is maturing in its core infrastructure - yet we’ve only begun to explore the possibilities of new ideas and primitives that simply weren’t viable on other chains.

Solana has profoundly shaped my journey - both professionally and personally. It’s changed how I think about innovation, community, and resilience. I’m deeply grateful for the friends, collaborators, and believers I’ve met along the way. You know who you are (too many to list) - big love 💙💙

I’ll keep building here and continue to double down on Solana. The foundations are stronger than ever, and we’re only getting started.

Thank you for making all of this possible @toly

[GK @don_kong]

insane 😂

[clarence.sol @ODClarence]

$350k in daily rev hit for the first time ever.

$ORE is now only $3k away from flipping @phantom in daily revenue🤣🤣

All this within just 1 month of launch. ORE is also a consistent top 5 protocol by revenue earned on @solana

[0xWitch @0xwitchy]

Here's an oversimplified tokenomics of $ORE.

You mine $ORE, which comes in the form of unclaimed $ORE.

1 $ORE per minute is dispensed to the winning block out of 25 and you can choose to 'stake' on any block.

50% of the time, that 1 $ORE is given to all winners equally, weighed based on their $SOL stake.
500% of the time, 1 $ORE is given to 1 winner, weighed based on their $SOL stake.

Withdrawing unclaimed $ORE incurs a 10% tax that is given to remaining holders of unclaimed $ORE.

0.2 $ORE is sent to a motherlode pool, which every winning block has a 1/625 chance to win it all, weighed by your $SOL.

10% of all $SOL is raked in by protocol as revenue.

90% of revenue is used to buyback $ORE randomly. 10% of revenue is provided to regular $ORE stakers.

So, the question is, do you want to:
- Mine and earn unrefined $ORE, which has a very high APY?
- Mine only when motherlode is high, so you can potentially win a big amount of $ORE?
- Stake regular $ORE to earn APY from buybacks?
- Hold $ORE?

Manyy avenues for alpha in @OREsupply. Choose your destiny.

Flywheel.

[Marino @marinonchain]

Ngl, this might be one of the biggest upgrades ever launching on Solana - and it’s happening today!

It’s called Harmonic. What if Solana’s blocks were built like shares on a stock exchange - open to the highest bidder, transparent, and efficient?

The result: faster, fairer & more efficient transactions.

That’s the value @harmonic_gg is bringing to Solana 👇

1️⃣ Why It Matters

✅ Today, a few builders decide:
👉 Which transactions go in & in what order
✅ That can mean:
👉 Hidden costs, slower trades & unfair priority
✅ Harmonic changes this:
👉 Multiple builders compete on each block
👉 Validators pick the best bid
👉 You get faster inclusion, fairer execution & lower fees

2️⃣ How It Works

✅ Harmonic creates
👉 An open “block-builder marketplace”
👉 Builders submit bids to produce the next block
👉 Validators choose the most efficient one
✅ The result:
👉 More rewards for validators
👉 Less power concentration
👉 A healthier, more efficient Solana network

3️⃣ Why You Should Care

✅ Your Benefits
👉 Lower slippage
👉 Fewer “surprise” costs on your trades
👉 Faster, more predictable confirmations
👉 A network that stays fast & fair for all users

4️⃣ A Major Upgrade

✅ It’s how Solana scales like the Nasdaq
👉 Because block builders compete in real time
👉 Just like traders on an exchange
👉 But here, it all happens fully on-chain
✅ Everyday users benefit from
👉 Faster, cheaper & fairer transactions 🔚

[kdot | bulk @kdotcrypto]

We launched a solana validator that receives direct share in revenue from the orderbook it’s powering

This makes the validator provide better yield than anywhere else. Now the only way other validators stay competitive, is by also running the orderbook

Thanks for playing 🫡

[hanaknight 🌸🌗 @hanaknight_]

So @stripe is now accepting crypto payments, and used @solana in their demo example 🤯

Why is this important? 👀

Naysayers of crypto talk about how "crypto is a solution in search of a problem." After all, what is wrong with the existing financial system? We shouldn't be trying to fix something that isn't broken.

I had a long conversation with @jnwng last night as we were using @solanapay for fries and beer at @FoolsGoldNYC about this:

Web3 is NOT about trying to decentralize everything; but web3 opens up an alternative to the current imperfect system, whether it is in payments, the creative economy, resource management, gaming, or even social networks.

I've written in a previous post when the @visa integration was announced, that mass adoption will not come through institutional adoption.

I still stand by that, but these milestone integrations are not merely technological ones, they show that there is an increasing mindset shift from a social & psychological level about the way we think about interactions related to the movement of money, and the relationships of the different actors within these systems.

We want to get businesses paid. We want to get creators paid. We want to get consumers rewarded for their patronage. We want more transparency over the layers of fees we are being charged via middlemen providers.
Crypto opens up a door of alternatives.

Whether it has to be seen that the current form of the crypto space will be grow positively and sustainably has yet to be seen.

But the good news is that it all comes down to us, the people in this space who are shaping it to become the force we want to see in the future. Remember that when you are thinking about what to build, how you talk about Solana to those outside the space, when you are choosing how to spend your time building, and who you are supporting to build.

Slowly, then all at once, @solana ☀️

[GK @don_kong]

@MaplestoryU 😁 @MaplestoryU

[Superteam @superteam]

Go claim your W

[GK @don_kong]

@Auroryproject Need code to seek Tokane 🤩

[GK @don_kong]

@AuroryProject 😁

[Amiko Legends @AmikoLegends]

Seekers of Tokane alpha is now live for all Aurorians and early access code holders ✨

Start playing directly in your browser on our website.

Link in bio.

[GK @don_kong]

@TheChefBoyRDave @oogyNFT Ay LFO

[GK @don_kong]

@RooIntern cracked

[GK @don_kong]

@SallyJack3books @playrooniverse oooooo