Top Updates From the Solana Ecosystem | August Week 4

Last week was another excellent week for Solana’s native token (SOL), which reached a new all-time high of $97.66. Therefore, the token has risen 25.6 percent in the previous seven days, outperforming Bitcoin and Ether.

In addition to its remarkable growth, the Solana ecosystem records impressive development, becoming one of the most active networks in the blockchain space.

As reported by Altcoin Buzz, Solana currently has over 400 projects built within its ecosystem, making its popularity continues to shoot up.

Here are the recent exciting updates from the Solana ecosystem.

1 – Solana Taps Chainlink to Offer Crypto Price Feeds

In a significant boost for its ecosystem, Solana has collaborated with Chainlink to give developers access to decentralized pricing feeds.

Firstly, Solana said in a statement that developers on its platform may now use Chainlink pricing feeds, where Solana developers now have access to decentralized, high-quality, and frequently updated pricing reference data.

Likewise, Chainlink’s price reference contracts currently provide safe and accurate market data. The newly integrated pricing feeds, on the other hand, will help developers construct a wide range of hybrid smart contract applications in DeFi.

Secondly, Solana’s creator and CEO, Anatoly Yakovenko, expressed satisfaction with the new integration. According to him, the integration will greatly accelerate the rate at which Solana developers can create secure, rising DeFi apps.

Finally, he said, “The combination of high-quality oracle infrastructure and Solana’s high-speed blockchain network can enable DeFi applications to scale to a global level.”

2 – Solana Foundation Unveils Delegation Program

The Solana Foundation, a non-profit branch of Solana Labs located in Switzerland, has started a delegation program.

The Solana foundation, dedicated to the decentralization, growth, and security of the Solana network, just announced the new initiative. According to the release, it would deliberately distribute $SOL to users who satisfy specific performance and decentralization requirements.

In the same vein, Solana will be able to optimize the total number of high-quality validators on the network and control the allocation of stake across nodes thanks to the distribution. This will help the Solana ecosystem’s growth and security.

In conclusion, It’s also important to say that since June 2021, more than 320 new validators have joined Solana’s platform. However, there are presently 896 staked validators spread over 28 countries, 150 data centers, and 92 distinct ASNs.

3 – All-Art Protocol’s SOLSEA Launches

All-Art Protocol, a project that offers NFT liquidity pools, has unveiled the first open NFT marketplace on Solana.

According to the protocol’s introduction, the Solana NFT marketplace was created in response to user demand. The project, called SOLSEA, would serve as a secondary market for all NFTs created in the Solana ecosystem.

Firstly, SOLSEA will possess unique features that will attract a wide audience of NFT lovers, where the NFT platform will be differentiated by its low transaction costs, an ultra-fast, cheap minting process, and a new licensing standard.

In addition to adding licenses to minted NFTs, SOLSEA will allow users to mint individual NFTs where sellers will be able to list NFT on the new marketplace and having a comprehensive list of payment alternatives for the NFTs, among other fascinating features.

4 – Audius Surpasses 500,000 Tracks Download

Audius, a Solana-based music streaming company that just joined TikTok has seen tremendous growth.

Artists will be able to simply integrate their music into TikTok thanks to the collaboration, which makes Audius the first streaming platform to negotiate a contract with the app. In addition, Audius will run the “TikTok Sounds” collection, which will provide access to artist music to the app.

Moreover, TikTok has revealed that it had surpassed half a million track uploads.

Roneil Rumburg, co-founder and CEO of Audius, expressed his joy in the recent partnership in a statement, where the collaboration will make it easier for musicians to obtain their songs on TikTok, which had previously been tough.

5 – Sunny Aggregator Launches on Solana

Sunny Aggregator, a composable decentralized yield aggregator, has officially launched on Solana.

Users can now deposit funds into the protocol and earn $SBR yields using Saber LP tokens.  For instance, users can only deposit Saber USDT-USDC LPs on Sunny right now, with pools for other Saber LPs coming soon.

Above all, Sunny said it will make it easier for customers to manage their yield farming positions by providing a simplified method for finding and entering farms.

Solana Price update

SOL this week hit an all-time high of $97.66 as the token continues to grow. SOL as of press time, is now the ninth-largest cryptocurrency by market cap.

Solana ecosystem
Source: TradingView

In addition, as of publication, the token was trading at $88.56 with a 24-hour trading volume of $3.2 billion. SOL has a circulating supply of 291 million SOL coins and a max supply of 488.6 million.

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