Author Archives: decrypt.co

The infrastructure startup, hailing from former Coinbase and Amazon engineers, built a streamlined Solana development platform. Solana infrastructure startup Helius today announced that it raised a $3.1 million seed round co-led by Reciprocal Ventures and Chapter One, in an effort to provide the tools to help developers build Web3 applications in less time and for less money. Co-founded by engineers[Read more…]

Despite several high-profile hacks, Solana remains a popular rival to the much larger Ethereum. “We do sometimes track our success against Ethereum in terms of developer adoption,” Solana Labs co-founder Anatoly Yakovenko acknowledged on the Decrypt gm podcast. “I think it’s really important because they are the market leader.” Still, he said it has been interesting to[Read more…]

Solana’s top NFT marketplace no longer forces traders to pay creator royalties after rival upstarts cut into its market share. Magic Eden, the most popular marketplace for Solana NFTs, announced late Friday that it would no longer strictly honor creator-set royalties on NFTs sold through its platform, bowing to recent pressure as royalties-shunning rivals rapidly stole away its market share. “After some[Read more…]

Are creator NFT royalties on the way out on Solana? Zero-royalty trading platforms are quickly gaining traction, and Magic Eden is adapting. The debate over NFT royalties is raging again, this time in the Solana NFT space—and marketplaces that eschew creator royalties are finding eager traders while capturing market share in a way that they haven’t yet in the[Read more…]

SOL is taking a harder hit than Bitcoin or Ethereum today, falling to a four-month low The crypto market is in the red this morning amid continued wider economic turmoil, and top coins like Bitcoin and Ethereum are both down today alongside much of the market. But Solana has taken an even harder hit, dropping to a four-month low. Solana (SOL) is down[Read more…]

The MPLX token hit a new low price just weeks after launch, hours after Metaplex offered up 40 million tokens for NFT buyers. The Metaplex Foundation, which oversees Solana’s Metaplex NFT protocol, recently launched an airdrop of its MPLX token for Solana NFT creators—and on Monday, it extended the offer to eligible collectors that had previously interacted with certain NFT projects. However,[Read more…]

In the second $100 million DeFi hack this week, Mango Markets was drained of $100 million in funds due to an exploit. Mango Markets tweeted Tuesday evening that a hacker was able to empty funds from Mango via an oracle price manipulation. Only last Thursday,$100 million was stolen from the Binance Smart Chain, another DeFi protocol.[Read more…]

The popular Solana NFT brand becomes the latest collection to switch to a royalty-free scheme. Declaring the move its “next experiment,” the NFT collection DeGods is the latest to institute a 0% royalty policy. Calling the move the best decision for its business, it effectively removes the collection from potential future legal actions relating to[Read more…]

Solana co-founder Anatoly Yakovenko knows that Solana’s outages concern its users. But a solution for the network could be on the horizon. “This has been the biggest challenge for us, and the number one priority,” Yakovenko told Decrypt on the most recent episode of the gm podcast. The young proof-of-history, proof-of-stake hybrid blockchain has had five major outages since its launch in 2020. Out[Read more…]

It’s been a rough few months for crypto following the collapse of Terra in May, sending shockwaves throughout the wider market. But crypto prices had been trickling down for months at that point, and financial markets across the board have been hit hard this year as inflation rises. How much longer will the bear market last? Estimates vary[Read more…]