TL;DR — we help you capture the rewards that your txns generate
important: this is *completely optional* — we only do this if you opt-in
How does it work?
i) you send a txn (buy/sell/swap)
ii) searchers look at a stripped down version of the txn (the searchers are KYC'd + txn has no signature so they can not frontrun or sandwich)
iii) **after your trade executes**, if it generates an arbitrage opportunity—most commonly: updating prices across exchanges—you earn 50% of the rewards!
that's it, no additional malicious MEV risk
there's a lot of misinformation and lack of understanding when it comes to this, so to be clear:
i) this does not affect the user's trade, an arbitrage happens only after the user's trade goes through (unlike other forms of MEV, this is considered "productive MEV" since it helps update prices for users)
ii) this is completely opt-in and will only happen if the developer explicitly commands to do it
iii) this is all verifiable onchain!
iv) this already happens across many venues and ecosystems, and this is one of the first ways where the user/app actually now gets to earn their own rewards!
Drawing from Bitcoin's BRC-20 standard, SPL20 inscriptions enable the direct on-chain storage of digital art
Still don't understand what's going on? Don't worry, we've got you covered 👇🧵
SPL20 inscriptions are unique Solana addresses that contain images stored directly on the blockchain. This differs from regular NFTs that store their art on a third-party service like Arweave. Now, your images have their own address instead of an HTML link
Storing art on-chain ensures the art's integrity and longevity, free from any external data storage limitations
These images, however, do not have to be immutable. For example, mutability allows for new use cases such as native trait swapping or day/night cycles for gaming NFTs
It's time to announce the first cohort of Helius Hacker Advocates 🧵
Reminder: these are devs dedicated to improving the Solana dev experience and will have access to exclusive networking, growth and educational opportunities. They will play a big role for Solana devs.
Accounts on Solana and how they differ from Ethereum — explained 🧵
Accounts are ubiquitous on Solana.
You may hear someone refer to their wallet as an account, you may see a developer refer to a program as an account, or you might read that an NFT is stored in a token account.
All are true.
In Solana, everything is an account.
Accounts serve as versatile data storage units capable of holding various types of information, such as tokens, program states (i.e how much money is in an liquidity pool), or NFT metadata.
This flexibility enables developers to efficiently manage on-chain data. 📦