Solana's current situation and interpretation: innovative applications of ETFs, Actions and Blinks and TipLink

Produced by: DODO Research

This week’s crypto market still has not broken through the downward trend, and the overall market continues to be sluggish. Many people have also begun to doubt whether the future and potential of cryptocurrency still have a bright future. We need to explore the future. Whether it can really achieve large-scale adoption is definitely the key, and the development direction of SOLANA's roadmap, which has been supported by ETF news recently, is currently the project that is working hardest to make progress in this regard.

In this issue, Cryptosnap Dr.DODO will take you through the recent updates of the SOLANA public chain and its various applications adopted on a large scale.

Solana ETF

Speaking of recent major events in Solana, the news that VanEck has filed an application for the first Solana ETF must be mentioned. Although the market generally believes that the news is more symbolic than actual, it still gives a boost to the Solana currency price. Needle. VanEck believes that the current U.S. Securities and Exchange Commission (SEC) is wrong to regard $SOL as an unregistered security. Instead, it believes that SOL is a commodity similar to Bitcoin and Ethereum. In Bitcoin and Ethereum ETFs, After being approved one after another, the application for $SOL ETF is also reasonable.

Most people in the market think that this application is unlikely to be approved in the current environment. The SEC has previously made it clear that $SOL is a security statement. VanEck is more preparing for the second half of the year. The U.S. election is predicted in advance. Current SEC Chairman Gary Gensler will step down by then. Cryptocurrency voters may play a key role in the election, and the regulatory environment in Washington is developing in a direction that supports cryptocurrency.

Source: https://www.sec.gov/Archives/edgar/data/2028541/000162828024030249/vanecksolanatrusts-1.htm

Actions and Blinks

After talking about the big news at the token market level, another big news in the Solana ecosystem is Solana Actions and Blinks. Actions and Blinks is a new type of action launched by the Solana Foundation and Dialect. The function of interaction on the state chain.

Simply put, Actions is a set of standardized APIs for transactions on the Solana blockchain for developers. Any project party can adapt its own protocol based on the documentation; while Blinks is an interactive front-end for users. Blinks can Convert any Solana Action into a shareable, metadata-rich link. You can place the link on X (Twitter) or Discord to generate on-chain interactive button options.

The launch of Actions and Blinks is the best reflection of Solana’s efforts towards large-scale adoption. It lowers the threshold for using blockchain by one level. Retail investors only need to swipe through social media and click buttons to complete on-chain operations. Requires website jump to connect to wallet and other behaviors.

Source: https://x.com/eli5_defi/status/1805877572238295296

Tiplink

When talking about Solana’s roadmap for large-scale adoption, we have to mention the wallet application TipLink. The author believes that TipLink is the smallest and most user-friendly wallet among all wallets currently, and the wallet with the lowest threshold for use. TipLink is also a project strongly supported and sponsored by the Solana Foundation. In 2023, it received financing from Multicoin, Solana Venture, Sequoia Capital, and the two major stablecoin companies Paxos and Circle.

TipLink is a managed wallet. Users do not need to write down notes. They only need to use a Google account to register and log in. The experience is very similar to many Web2 applications. There is no need to install plug-ins or apps. Just open a web page and connect to a Google account. In the early days of TipLink It is a tipping application that only supports payment and payment functions, but now it is a very mature wallet product comparable to Phantom. With the latest TipLink Adapter function update, mainstream applications on the Solana chain can be connected to the wallet for interactive use. No different than other wallets.

Source: https://tiplink.io/

Author’s opinion

The author believes that Solana is indeed the most suitable chain for beginners to use currently. It has low transaction fees, a quick-to-use wallet, and a simple and clear front-end interactive interface. Basically, you can use it just by intuition. Easy to use. In addition, the Solana Foundation’s clear path can drive a number of ecological applications on the chain to keep up with the pace. This time Blink’s function is the best example. Basically at the same time that the Solana Foundation issued a tweet announcement, all the applications on the chain regardless of Projects big and small have retweeted tweets. Phantom/Solflare/Backpack wallets have supported Blink interaction for the first time, and Defi Dapps such as Jupiter/Tensor/Sanctum have already prepared Actions APIs for users to use immediately.

Solana Foundation’s clear development path and its cooperative relationship with ecological projects are the author’s opinion that SOLANA’s strongest moat is currently. At the same time, I also fully agree with Solana’s development direction towards large-scale adoption. Compared with the exquisite Whether it is financial products or advanced technology or the pursuit of artificial intelligence and other hot topics, the current top priority in the blockchain circle is to lower the threshold and let more people join the mid-term!

The above is the detailed content of Solana's current situation and interpretation: innovative applications of ETFs, Actions and Blinks and TipLink. For more information, please follow other related articles on the PHP Chinese website!