The Solana network saw some massive growth in the month of August. Although the native token, SOL, didn’t do quite well in the market, the general ecosystem touched new levels. So, here are some of the major accomplishments.
Shopify Integration on Solana Network
- One of the major highlights of the Solana network in August is the integration of Shopify into the ecosystem. Apparently, this integration on the network opens up quite a number of things. First, is that it reduces the amount of fees crypto enthusiasts pay while making transactions. Furthermore, reduces the fees from 1.5% and 3.5% to a fraction of a penny.
Only-Possible-On-Solana Campaign
- In August, the Solana network launched the Only-Possible-On-Solana Campaign. Apparently, this campaign was to throw more light on what crypto projects can achieve while building on the Solana ecosystem.
- Some of the highlights of this campaign bases on Solana offering scalable tech, compressed NFTs, lightning-fast consensus, and parallel transactions. So, this campaign was about the benefits of Solana.
Maple Makes a Return to the Solana Network
- Maple Finance is a treasury management solution providing yields backed by US Treasury Bills. Apparently, they plan on launching a Cash Management Solution on Solana in early September. Hence, they made a return to the ecosystem.
- Some of the instant benefits users will get from the Solana network are daily liquidity and no fees to deposit and withdraw. Moreover, it shows increased activity on Solana.
ChatGPT Accepts Solana’s GPT-4 Plugin
- The ChatGPT store recently accepted Solana’s GPT-4 Plugin in August. However, this is quite huge for the ecosystem, representing progress in many of their quests.
- With Solana’s GPT-4 Plugin, users get the chance to track their wallets. Furthermore, there’s also the chance to explore NFTs with the same plugin.
Drip Raises a Whopping $3 Million On the Solana Blockchain
- Crypto projects building on blockchain networks represent progress. So, this is what is happening on Solana after a protocol building on the network raised more than $3 million.
- This new crypto project on Solana offers daily new NFTs from various creators and artists. Moreover, this $3 million is only from their seed round.
EUROe, Solana’s First Euro Stablecoin
- Membrane Finance was the firm behind the launch of the first Euro stablecoin on the Solana network. So, this EUROe complies with MiCA, the European Markets in Crypto Assets.
- One of the best things about this EUROe stablecoin is that it comes with almost zero fees. So, users can pay with this stablecoin without paying huge fees.
Phoenix Exchange Launched On the Solana Network
- A fully on-chain, limit order book exchange named Phoenix launched on Solana. Apparently, this exchange will change a lot of things on the network.
- Some of the features one can get from this exchange include atomic settlements. Furthermore, it is beginner-friendly and offers a wide range of services.
Sign In With Solana (SIWS) Service by Phantom
- Phantom is a crypto wallet that will introduce a fast, easy, secure, and decentralized authentication feature. So, they want to do this using the Sign In With Solana (SIWS) Service.
- This feature went live in August. Apparently, it will make the Phantom wallet more secure against security vulnerabilities.
Conclusion
The Solana network achieved quite a number of things within August. Apparently, many projects started building on the network while the already existing ones introduced new features. Above, we discussed some of the major highlights of the Solana network for August.
