The blockchain platform Solana opens offers for the sale of SOL tokens »CryptoNinjas at an early stage

Solana, a blockchain for fast, secure, scalable, decentralized apps and marketplaces, is now offering early offers for the sale of community SOL tokens on CoinList. The main auction will go live from 11 p.m. PST on March 23 to 4 a.m. PST on March 24.

SOL is the native token of the Solana blockchain. this serves a couple of important purposes:

• Use and fees – Solana uses a Proof of Stake consensus algorithm that encourages token holders to validate transactions. As part of Solana’s security design, all fees are paid and burned in SOL, reducing the overall offering. This deflationary mechanism for SOL supply incentivizes more token holders to participate, resulting in increased network security.
• Assets under Management – As Solana gains traction and financial products build on top of the protocol, SOL tokens will likely serve as underlying security for such applications (e.g. MakerDAO, which ETH uses as underlying security for DAI).

“These are uncertain times. We have taken all measures to ensure the health and safety of our team and to manage the volatility of the market. After assessing community interest and the causes of the recent market volatility, we believe this is a critical time to improve crypto infrastructure. With this in mind, we are planning to introduce the SOL token. We have also structured a price guarantee of 90% to protect against market volatility. “
– The Solana team

Solana highlights

• Experienced team for distributed systems – Solana’s core technical team comes from Qualcomm (Fortune 500 chip maker), which managed projects like Firefox OS and the BREW operating system that powered over 500 million phones. Few teams in the tech industry have experience scaling distributed systems to billions of users.
• Natively fast and scalable – Solana’s key breakthrough, Proof of History, vastly streamlines the process for a network to reach consensus and makes its blockchain natively scalable. This architecture avoids the added complexity that comes with other scaling approaches such as sharding and layer two solutions.
• Demonstrated traction – Solana team and performance have attracted launch partners who are disappointed with the scalability issues of existing blockchains like Ethereum. This includes an as yet undisclosed protocol for social networks with 1.2 million MAU, DDEX (largest decentralized exchange on Ethereum), Chainlink (decentralized oracle) and Civic (blockchain-based identity provider). Solana has also partnered with a Fortune 200 telecommunications company to provide the virtual SIM and roaming / payments layer for its $ 20 billion 5G network.

Auction details