This Week in Signal Teams — Solana, FIO Protocol
Every week we comb through hundreds of FTX Signals to bring you the most significant team updates with brief analyses to help you understand the latest developments in blockchain.
Macro Crypto News This Week
- Ethereum successfully merges to proof-of-stake
- ETHPoW (ETHW) plunges over 60% a day after launch
- Russia to start international trades with Bitcoin in 2023
- Fidelity, Charles Schwab, and Citadel launch a crypto exchange
- Bitcoin hash rate hits new highs despite lower prices
- Bitcoin exchange inflows see biggest one-day spike since March 2020
- White House releases crypto framework seen as ‘missed opportunity’
- Starbucks to offer NFT-based loyalty program using Polygon
Top FTX Signals This Week
- Solana Hackathon Winners Announced
- FIO Protocol Announces Partnership with Pillar
Solana Hackathon Winners Announced
“gm, campers! The SolanaSummerCamp Hackathon saw nearly 18,000 participants submit 750 final projects to the judges. Now, it’s time to meet the winners.”
— Austin Federa, Head of Communications, Solana Labs
Summary
- Solana has announced the results of the Solana Summer Camp Hackathon, a global competition focused on bringing the next wave of high-impact projects into the Solana ecosystem.
- Open to teams globally, Solana Summer Camp saw nearly 18,000 participants submit 750 final projects to the judges with up to $5 million in prizes and seed funding.
- The grand champion is IronForge, a platform that includes automated deployments, program previews, auto-generated APIs, and monitoring.
- For the Payments track, first place went to Sphere, which offers custodial and non-custodial payments solutions to help SMB owners, NFT creators, and companies seamlessly accept Solana payments, increase customer engagement, and manage their online crypto store.
- The Gaming track award went to RPG Quest, the DAOs track went to Bastion, the DeFi track went to Dual Finance, the Web3 track went to Ora, the Mobile track went to BlockLive and the Community Choice Award went to Beluga, a stableswap AMM.
Significance
This was another successful hackathon for Solana, incentivizing developers to build the next round of dApps within the ecosystem. More broadly, they are paving the way for mass adoption of blockchain technology.
Price at the time of FTX Signal: $33.39. View SOL on FTX.
FIO Protocol Announces Partnership with Pillar
“We’re excited to announce our partnership with Pillar, a community-run multichain wallet, to integrate the FIO Protocol.”
— Ash Howe, Head of Marketing
Summary
- The Foundation for Interwallet Operability (FIO) is excited to announce its new partnership with Pillar, a one-stop shop to host all your tokens, NFTs, dApps in a single wallet.
- Pillar will integrate into its platform the following FIO Protocol features: The ability to register FIO Crypto Handles and custom domains, FIO Receive, FIO Send, and FIO token.
- FIO is a blockchain and wallet agnostic protocol that is focused on making cryptocurrency interoperable and easy to use. A perfect solution for multi-chain wallets such as Pillar making crypto transactions easier for all users of Pillar Wallet worldwide.
Significance
This partnership makes using any cryptocurrency easier and less prone to mistakes, which should help with user adoption going forward.
Price at the time of FTX Signal: $0.04. View FIO on FTX.
Quotes of the Week:
“I have been doing this 45 years and between the pandemic, the war and the crazy policy response in the US and worldwide, this is the hardest environment I have ever encountered to try and have any confidence in a forecast six to twelve months ahead.”
— Stanley Druckenmiller
“The value of the output is 100x the cost of the energy input. This makes Bitcoin far less energy intensive than Google, Netflix, or Facebook.”
— Michael Saylor
Charts of the Week:
The following chart shows that the number of Bitcoin users continues to grow despite the correction in prices. This can be interpreted as bullish for the long-term future of Bitcoin.
These new entities are not panic selling during this bear market. The supply held by entities with .01 — .1 BTC has been increasing dramatically in the past year, as you can see in the chart below. The pink line shows the supply held by this group and the green line spiking higher in 2022 shows the 90-day change in the supply that they hold.
Thanks for joining us and we look forward to bringing you our top FTX Signals again next week.
Jason Hamlin
Ecosystem Insights @ FTX
FTX Signal is a first-of-its-kind communications platform built exclusively for token teams to connect and engage with their communities. Over 1,000 token team CEOs and team leaders actively use the platform to provide relevant project updates directly to FTX’s 6 million+ users. Learn more.
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