What's The Story On Solana

in LeoFinance3 years ago

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Solana was getting some hype a while back so I picked up 35 of them on CoinEx, where they have just been sitting doing nothing. I keep meaning to find out how to get them on the chain and utilize them in some way, but.. I haven't.

When yesterday's pump happened I figured it was time to review the project and decide whether or sell while it is up, hodl or buy.

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Currently Solana, which trades with the ticker #SOL is 10th on CoinMarketCap and unlike most tokens is trading above it's March ATH. At the time of this post $$68.72 and looking strong.

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Source

The marketing page, solana.com, is targeting development teams and boasts all the usually crypto buzz words. Fast, Scalable, Decentralized.. blah blah

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They highlight transactions, block speed and number of Nodes on their front page.

In summary Solana claims to be yet another "Eth Killer" which can handle smart contracts, has scalable transactions and the speed to compete with ETH, they seem to have captured some attention from mainstream investments and it seems that currently they have a lot of momentum.

By following this guide, I was able to move my #sol to my #exodus wallet and stake them on Solana. https://www.altcoinbuzz.io/passive-income/staking/how-to-stake-solana-sol/https://www.altcoinbuzz.io/passive-income/staking/how-to-stake-solana-sol/

My decision after reviewing the project was to HODL. If the price takes a good dip in the next few days that could change to a buy.

What are you staking and where?

@whatsup

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Solana might actually work. I've used it a lot and the experience is pretty good. It's basically the blockchain of choice for FTX exchange, so you can expect massive liquidity everywhere. There's a ton of DeFi projects launching there.

The liquidity pool farms on Solana are abundant, super high yield and really profitable. Raydium is like Sushiswap on steroids, with quick transactions and near-zero fees. So that's where I've staked the most.

Wow, a raving review THANK YOU. FTX is also on my list for things I should check out!

I appreciate your comment!

You should really check out FTX. The guy who runs it is super friendly, Sam Bankman-Fried (SBF on Twitter). Zero-fee withdrawals (!!) Yes, when withdrawing to your own btc wallet they pay the transaction fees, so even when you want to withdraw from Binance, it would make sense to first send to FTX (with a coin that has low fee withdrawal fee on nance to FTX, then to the wallet of your choice)

But what I like best is the fact that on FTX, you can lend your assets to the exchange. (so you lock up BTC or USDC) and you get an interest rate paid out every hour, depends on how much other users are borrowing from FTX. (In fact, when traders go leveraged long or short, they borrow from the exchange, while their positions are open). So in short, you get to be the house while other degens go aping.

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I wonder how they gonna make profit with those and even paying for the TX fee for its customers?
good for us the user tough. I had check it before. and it seems they really has the lowest fee from all other exchanges.

stake them on https://solflare.com/. They get a 7.25% APY.

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