1/ There are prizes for each of the four IGNITION tracks — Web3, DeFi, Gaming, Arts & Collectables — but did you know that there are also several company prizes? solana.com/ignition
Power grid infrastructure is outdated, energy demand is rising, and the need for a clean energy shift is urgent.
Renewables like solar are getting cheaper, but their distributed nature challenges the existing grid, which is built for centralized energy production.
Crypto can help by incentivizing renewable energy build-out, altering consumer behavior, coordinating across distributed energy sources, supporting P2P energy trading, and providing an open data layer. 🧵
Fuse is a full-stack Web2 renewable energy business that is now building @projectzero2050, a decentralized renewable energy network powered by Solana.
With $12M in recent funding led by @multicoincap, Project Zero aims to use token incentives to drive the installation of distributed energy sources and shift consumption patterns. When energy costs rise, consumers are rewarded for using less, and vice versa—turning everyone into a mini energy trader.
Learn more about @FuseEnergyHQ and Project Zero from its Breakpoint announcement:
Powerledger offers a platform for tracking, tracing, and trading renewable energy — and reported that a P2P solar energy trading pilot with Uttar Pradesh saw prices drop 43% below retail tariffs and spurred legislative changes.
It’s migrating from its own SVM fork to Solana mainnet. Hear from @PowerLedger_io at Breakpoint:
gm, as we prepare for Breakpoint, let’s look back on an August filled with shipping 🚢
From prediction markets to global payments, the Solana ecosystem didn’t miss a beat.
Curious what you might’ve missed? We’ve got you covered. 🧵
Drift launched prediction markets platform BET.
BET differentiates from existing prediction markets with its capital-efficient design – and users can trade with any collateral supported by @DriftProtocol, not just USDC.
At the Global Fintech Fest, @NandanNilekani and @imsiddshetty live demo’d a money transfer on the Finternet that settled on Solana.
The Finternet is a new vision for global finance – one built by tokenizing any asset over a unified ledger. It is being developed by the team behind the Unified Payments Interface (UPI) in India, which does over $240 billion in payments volume every month.
Today, the Solana Radar Hackathon officially kicks off!
So it’s the perfect time to share ideas for innovative startups to build on Solana.
What potential opportunities are out there? 🧵
DePIN.
Energy infrastructure is changing: Governments are providing 100s of billions to accelerate the shift to green energy.
There's an opportunity to build an optimized energy business via token incentives:
> Earn for installing valuable energy hardware (e.g., solar panels, batteries)
> Earn for adjusting energy consumption behavior
> Turn each homeowner into a mini "energy trader”
PayFi and Commerce.
1️⃣ Buy Now, Pay Never?
Imagine financing purchases by staking yielding assets. You retain the principal, while yield covers payments.
Founders like @soleconomist have started to ideate on solutions using LSTs via @sanctumso.
PayPal's PYUSD stablecoin recently surpassed a $1 billion market cap!
It has increased by 271% since its launch on Solana, with Solana PYUSD accounting for 88% of that growth.
Why did PayPal choose to build on Solana and what’s driving PYUSD adoption? 🧵
For over two decades, PayPal has strived to provide people with access to fast, cheap, and global payments.
This commitment led the company to pioneer online payments, and now, PayPal’s looking to what it believes is the next generation of digital payments: onchain payments.
Onchain payments offer several advantages over traditional payment systems, including faster settlement, lower costs, and programmability.
In August 2023, PayPal launched PYUSD on Ethereum. PYUSD is issued by @Paxos, which is regulated by the NYDFS. The stablecoin is backed by 100% high-quality liquid assets and redeemable 1:1 with U.S. dollars.
1/ Recently, stablecoins issued on the Solana network surpassed $3B USD — and congrats to @Circle passing the $2B issuance mark for USDC on Solana!🔥
Stablecoins are a killer use-case for Solana and it still has lots of room to grow👇🧵
2/ Data from @Artemis_xyz as of Apr. 4th, 2024 shows that stablecoin issuance and transfers on the Solana network have continued to rise over the past three months, with over 3.1 billion issued and millions of daily transfers.
Stablecoins are just getting started on Solana 💪
3/ Stablecoins on Solana include @Circle USDC, @Tether_to USDT, @Paxos USDP, and a number of global currencies such as the GYEN from @GMOTrust, recently launched using token extensions.