🐎 Stables on Solana

Solana's price continues to shoot higher, but this week we're talking stablecoins on the network

Author

Richard Patey
November 15, 2023 • Estimated Reading Time: 5 minutes

Together with

Hey there 👋,

In this week’s issue:

  • DAI picks

  • Stablecoins on Solana feature

  • More liquidity for Handshake domains

Cheers!

DAI PICKS

  • Solana NFTs surge on the back of Solana’s pump (up 44% over the last 7 days), led by Mad Lads, Tensorians, and BoDoggos (my PFP).

  • Memecoin ($MEME)’s market cap is back to all time highs ($2.5B), up over 100% the last 7 days (Link).

  • The ETH Maxi's Guide To Solana (Link).

  • Phantom Wallet has had over 100k new wallet installs in the last 2 weeks (Link).

  • Crypto media company The Block sells 80% stake to Foresight Ventures for $60M (Link).

FEATURE

Stables on Solana

Jeremy Allaire the Co-founder & CEO of Circle, issuer of the USDC payment stablecoin, posted that a Euro stable (EURC) and its Cross-Chain Transfer Protocol (CCTP) is coming soon to Solana:

CCTP is a way to enable USDC to flow natively across blockchains, rather than locking up crypto using bridges, as explained in this session by Circle at the Solana Breakpoint conference I attended:

With CCTP, crypto assets get burnt on the source chain and minted on the destination chain using two smart contracts.

USDC on Solana benefits from high throughput and rapid settlement speed, putting it on par with traditional card payment methods, without the fees.

To hear more about stables, you can check out this panel session with Alexander Tkachenko of VNX with its Euro stable coin, as well as Juuso Roinevirta from Membrane Finance with it’s EUROe stable:

And to better understand why stablecoin adoption is such a big deal, Austin Federa at the Solana foundation spoke with Dante Disparte at Circle:

CLASSIFIEDS

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FINALE

Liquidity for Handshake

Namebase, the platform for buying and using Handshake domains, just made its Pro Exchange available to all to trade HNS:

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Disclaimer: Nothing in this email is financial advice and I am not a professional investment adviser. I send weekly updates on digital asset news and what I'm doing personally - consider it informational and for entertainment purposes only. Thanks to atato for sponsoring this issue.

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