New Solana Hackathons, SVM Expansion, Ore v2, & much more

Welcome back to the Solfate Snapshot, covering the latest updates throughout the Solana ecosystem! Over the past few weeks, we’ve seen some huge updates throughout the Solana ecosystem with new raises, token launches, product launches, and much more.

Here’s the latest from our team at Solfate and the Solana ecosystem:

Libre Introduces Access to On-Chain Funds on Solana

One of the largest global private markets investment firms Hamilton Lane has worked to bring its Senior Credit Opportunities Fund (“SCOPE”) onto Libre, a joint venture between WebN Group and Nomura’s Laser Digital. With Libre’s launch on Solana, users will now have access to a variety of on-chain funds including Hamilton Lane’s SCOPE, the Brevan Howard Master Fund, and the Blackrock ICS Money Market Fund.

Libre will operate as the RWA infrastructure to connect private markets and other alternative assets & money market funds to users on-chain. In the official announcement by Hamilton Lane, the Libre CEO and founder, Dr. Avtar Sehra was quoted saying, “The launch of the Libre Gateway on Solana is a huge step forward to enable access to wealth and treasury management tools for users on Solana, and for Libre to take advantage of the low latency and throughput capability of Solana to launch new and innovative services.”

Colosseum’s Radar Global Hackathon

The next Solana Hackathon has been announced by the Colosseum team earlier this month, running from September 2, 2024 to October 8, 2024. The online global hackathons are a great opportunity for builders to showcase their skills and ideas, potentially gaining investments from the Solana Foundation and ecosystem team grants!

Currently, there are no details on the tracks or prize pools, so be sure to keep an eye on the Colosseum X page, and their official hackathon website for more info.

Solfate on DRiP

Our latest podcast collectibles have been released on the DRiP platform, be sure to subscribe to our page for your chance to secure all the latest podcast collectibles from our team!

New Solfate Podcast Episodes

Be sure to check out the latest episodes of the Solfate Podcast, where had some great recent discussions with builders in the Solana ecosystem. Over the past few weeks we’ve had the pleasure of speaking with Jackie (aka 0xGRAFFITO), an AI artist on DRiP, and Chris, the Founder of Dialect.

• On-chain AI Art w/ 0xGRAFFITO

• Solana Blinks & Actions w/ Chris at Dialect

New Solfate Blog

The latest Solfate blog covers the base layer of the LST landscape on Solana, going over the base ideas of LSTs and the variety of options we have in the Solana ecosystem. Learn more about Liquid Staking Tokens and the benefits they provide to the DeFi ecosystem here.

Shorting Solana Memecoins

Over the past few months, the memecoin craze has been rampant among the Solana ecosystem, with multiple celebrities and other figures launching tokens through the popular launchpad pump.fun. With so many new meme tokens entering (and rugging) in the Solana ecosystem, most users end up bearish, looking for ways to bet against the performance of these assets.

The leading DeFi protocols for lending, marginfi & Solend, have each launched their own new products allowing users to short memecoins on Solana. Each platform allows users to make their bets on Solana memecoins with leveraged trading, be sure to check out both platforms to see which one you like better!

Ore v2 Release Notes

The initial launch of Ore took the Solana ecosystem by storm earlier this year, introducing a PoW system on Solana to mine the ORE digital currency. User activity exploded with the launch of ORE, with vast numbers of users trying to mine the currency resulting in extreme network congestion. With many of these problems becoming bigger, Ore mining has paused and they are now releasing the v2.

Here are some of the new features in Ore v2:

• No admin variables

• Fixed supply of 21 million tokens

• 2x staking multiplier for ORE stakers

• New CPU-friendly hash function

• Disincentivizes sybil strategies

• Improved client reliability

• Ore v1 tokens exchangeable 1:1 for 3 months

The next steps for the Ore v2 rollout will be:

1. Upgrade the v1 token metadata

2. Activate v1 → v2 upgrades

3. Begin mining

Eclipse Mainnet Launch

Eclipse is Ethereum’s first Layer 2 built with the Solana Virtual Machine (SVM), aiming to combine the best pieces of the modular stack. Eclipse utilizes Solana’s speed and execution, Ethereum’s security and liquidity, and Celestia’s scalability.

Developers are encouraged to start building on Eclipse with the launch of the Total Eclipse Challenge, an inaugural hackathon going from August 7th to August 21st.

For more information on the Eclipse mainnet launch and Total Eclipse Challenge, read the full announcement here.

Solana Ecosystem Teams Join the MetaDAO

Some teams in the Solana ecosystem have been early adopters of futarchy and the MetaDAO, and now 30 new ecosystem participants have joined the DAO! These users cumulatively swapped a total of $2.2M for a total of 4,000 META tokens, representing their stake in the community.

These new entrants include big names such as Paradigm, Colosseum, Anatoly Yakovenko, and builders from Solana ecosystem projects such as Tensor, Squads, Helius, Kamino, and many more.

The MetaDAO is also actively seeking contributors across technical and non-technical skill sets! If you’re interested in contributing to the MetaDAO, reach out on one of their main channels.

That’s all for this edition of the Solfate Snapshot! Be sure to subscribe for all the latest in the Solana ecosystem, keeping you up-to-date with all the latest product launches, stories, fundraises, and more.