Lido

Former LDO holder files class-action lawsuit against Lido DAO for crypto losses

The investor claimed that 64% of LDO tokens are controlled by just a few venture capital firms, preventing ordinary investors from having any control over decisions.

An LDO holder initiated a class-action lawsuit against the governing body for liquid staking protocol Lido, according to a complaint filed in a San Francisco United States District Court on Dec. 17. The lawsuit alleges that Lido’s LDO token is an unregistered security and that the Lido decentralized autonomous organization (Lido DAO) is liable for plaintiffs’ losses from the token’s price decline.

Lido is a liquid staking protocol that allows users to delegate their Ether (ETH) to a network of validators and earn staking rewards while also holding a derivative token called stETH that can be used in other applications. It is governed by holders of LDO, which collectively form Lido DAO.

The lawsuit was filed by Andrew Samuels, who resides in Solano County, California, the document states. The defendants are Lido DAO, as well as venture capital firms Paradigm, AH Capital Management, Dragonfly Digital Management and investment management company Robert Ventures. The document alleges that 64% of LDO tokens “are dedicated to the founders and early investors like [these defendants],” and therefore, “ordinary investors like Plaintiffs are unable to exert any meaningful influence on governance issues.”

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Ethereum validator cashes in 689 ETH from MEV-Boost relay

The 689 Ether, worth nearly $1.3 million, is the largest reward received since the 691 Ether reward paid to Lido on March 20.

A 689 Ether (ETH) reward worth $1.28 million has been paid from a single Maximal Extractable Value (MEV)-boost relay block on the Ethereum Beacon Chain in one of the largest rewards in recent months.

Ethereum liquid staking solution Lido was paid the reward from block number 17007842 on the Beacon Chain, which was finalized on April 9, containing 47 transactions, and built by beaverbuild.org, according to transaction data.

The reward almost matched Lido’s most recent high of 691 Ether on March 20.

The figure raised the eyebrows of Martin Köppelmann, the co-founder and CEO of Ethereum-based infrastructure platform Gnosis, who suggested Ethereum users should use a service like MEV Blocker to prevent their transactions from being exploited.

According to MEV Blocker, MEV bots have extracted more than $1.38 billion from Ethereum users attempting to trade, provide liquidity and mint nonfungible tokens (NFTs).

These centralized MEV-boost relays are able to extract value by aggregating blocks from multiple builders to select the one with the highest fees.

One of the most common MEV exploits is the “sandwich” attack, which occurs when an attacker places a large trade on either side of a target’s transaction, manipulating the price and profiting from the price change.

Related: ETH staking on top exchanges contributes to Ethereum censorship: Data

MEV-boost relays stem from the concept of proposer-builder separation, which was introduced by the Ethereum research organization Flashbots in 2021 in the lead-up to Ethereum’s transition to proof-of-stake in September 2022.

Separating the role of proposers from block builders is intended to promote more competition at the consensus level, further decentralize the Ethereum network and strengthen censorship resistance.

However, Ethereum has encountered several censorship issues since the Merge took place, namely compliance with standards laid down by the Office of Foreign Assets Control (OFAC), although the number of compliant blocks has since fallen.

There are currently 10 active relays, with Flashbots responsible for relaying more than 50% of the MEV-boost blocks since MEV was introduced in 2021, according to MEVBoost.org.

Magazine: Unstablecoins: Depegging, bank runs and other risks loom

Ethereum staking deposits dip due to regulatory pressure and Shapella upgrade

The amount of ETH being staked monthly has recently dipped according to the on-chain analytics platform Glassnode.

Ethereum staking deposits have declined slightly in recent weeks due to increased regulatory pressure and the Shapella upgrade slated for April 12.

On April 9, on-chain analytics provider Glassnode reported on the current state of the Ethereum staking ecosystem.

The data revealed that deposit activities are currently low, “due to regulatory pressure and the Shanghai upgrade.”

Financial regulators in the United States have been coming down hard on crypto this year. The Securities and Exchange Commission is adamant that Ether (ETH) is a security and has cracked down on staking despite there being no official legislation from Congress classifying ETH as such.

The Ethereum network will undergo a long-awaited upgrade on April 12. The Shapella hard fork, also known as the Shanghai hard fork, will enable the phased release of ETH staked on the Beacon Chain.

These two factors have caused the dip in Ethereum staking deposits, according to Glassnode.

The firm also noted that major centralized exchanges such as Coinbase, Binance and Kraken have lost a lot of market share to the liquid staking platform Lido.

“As the dust settled between the three giants, it was Lido who emerged victorious, continuing to dominate deposit inflows as of present,” it noted.

Lido currently accounts for almost a third of the total amount of ETH staked. This equates to around $11 billion from the 5.9 million ETH on the platform.

Centralized exchanges such as Coinbase take a hefty 25% commission from the staking rewards, with Coinbase’s commissions being even higher for other assets such as Cardano (ADA) and Solana (SOL).

Lido takes a 10% commission and offers the potential of earning additional yields on DeFi platforms through its staking token Lido Staked ETH (stETH). This explains the shift over time as savvy stakers switched to more profitable platforms.

Analysts have predicted that liquid staking platforms such as Lido will get a boost when ETH is released from the Beacon Chain after the Shapella upgrade.

Related: Analysts debate the ETH price outcomes of Ethereum’s upcoming Shapella upgrade

According to the Ethereum metrics tracking platform Ultrasound.Money, there are currently 18.1 million ETH staked in total currently valued at around $33.7 billion and representing 15% of the entire supply.

After the Shapella upgrade, this will be slowly released for withdrawal in the weeks and months that follow.

Magazine: Features ‘Account abstraction’ supercharges Ethereum wallets: Dummies guide

Sell or stake: Ethereum staking giant Lido mulls choices for its $30M ETH

While LidoDAO’s current inflows of about 1000 stETH a month are sufficient to cover operating costs for the time being, it’s worried that may not last.

The decentralized autonomous organization behind Lido — the largest Ethereum staking pool — is deliberating whether it should sell or stake the $30 million in Ether (ETH) from its treasury.

A proposal was submitted on Feb. 14 by the DAO’s financial unit, Steakhouse Financial, that considers four choices, one of which contemplates staking part or all of its ETH on Lido in the form of Lido Staked ETH (stETH).

Another would see LidoDAO selling a part or all of its 20,304 ETH for a stablecoin, with the purpose being to extend the DAO’s runway.

The four proposals submitted by Steakhouse Financial to the LidoDAO asking how it should manage its treasury. Source: Lido

The proposal comes as ETH staking withdrawals will soon be enabled through Ethereum’s Shanghai and Capella upgrades, which are expected to take place sometime early this year, according to the Ethereum Foundation.

While converting the ETH to Staked ETH may lead to more protocol rewards, the DAO is wary that too much staking may risk it not having enough Ether on hand “in case of need.”

Assets currently held in LidoDAO’s treasury. ETH currently accounts for about 9% of the DAO’s over $350 million treasury holdings. Source: Lido

Regarding operating expenses, Steakhouse Financial said it may be necessary to swap Ether for a stablecoin in order to “preemptively secure additional runway.”

Steakhouse Financial noted that with LidoDAO’s current inflows at about 1000 stETH per month, the DAO is making approximately $1.3 million to 1.5 million per month with the price of ETH hovering between $1,100 and $1,700 over the past few months.

The monthly inflow of stETH on Lido has steadily increased since January 2021. Source: Dune Analytics

Steakhouse Financial said those figures alone should be “sufficient to cover monthly operating expenses.”

However, they’re still deliberating whether it is worth converting excess stETH into a stablecoin to better prepare for any change in market conditions that may lead to increased operating expenses.

A business development representative from LidoDAO said that they’re not particularly thrilled with the current state of the stablecoin market:

“Considering all the FUD and rumors, both DAI due to USDC collateral and USDC itself pose potential risk if they become frozen. That being said I have issues with the liquidity of LUSD and USDT has yet its own issues.”

It appears as though most LidoDAO members are in favor of partially selling and staking a portion of the 20,304 ETH locked in its Aragon smart contract.

Related: Lido overtakes MakerDAO and now has the highest TVL in DeFi

The proposals come as the total value locked (TVL) of stETH fell 6.66% from Feb. 6 to Feb. 13.

The TVL of Lido is currently $8.13 billion, according to on-chain metrics platform DeFiLlama.

Lido plans to level up ahead of Ethereum Shanghai hard fork upgrade

Liquid staking protocol Lido unveils upgrade plans for v2, set to unlock stETH withdrawals and introduce Staking Router architecture.

Liquid staking protocol Lido is set to roll out staking reward withdrawals and improved staking architecture with the announcement of the upcoming Lido v2 upgrade.

Two major focal points of the planned upgrade include Lido’s introduction of its new Staking Router and enabling withdrawals for Ether (ETH) stakers.

The Staking Router introduces a modular architectural design allowing the development of on-ramps for new node operators, including solo stakers, decentralized autonomous organizations (DAOs) and distributed validator technology clusters. The latter is a protocol that allows validator duties to be shared across multiple nodes.

The Staking Router is envisaged to allow Lido to become an extensible protocol due to its modular design. Validator modules will be treated as sets of validator pools that can act as a supply for the protocol. Modules will manage an internal operator registry, store validator keys, and allocate staking and rewards among its operators.

The enabling of liquid staking rewards withdrawals allows Lido Staked ETH (stETH) holders to withdraw funds from Lido at a 1:1 ratio in ETH. An overview of the upgrade shared with Cointelegraph notes that the withdrawals feature also mitigates risks in the secondary market, which is provisionally set for activation after Ethereum’s Shanghai upgrade.

Related: Lido overtakes MakerDAO and now has the highest TVL in DeFi

Users looking to withdraw ETH will have to follow a proposed request and claim process. A request will require users to lock stETH to start the withdrawal. The protocol sources ETH to fulfill the request, locks the ETH, burns the locked stETH, and marks the request as claimable for the user to retrieve their ETH.

A short timeline outlines development milestones through February to April 2023, where code will be tested on the Goerli Testnet before a withdrawal credential rotation ceremony and the upgrade itself are set to take place.

The withdrawal credential rotation is necessary due to a discrepancy between Lido protocol validators using BLS-based “0x00” signatures and those using newer smart-contract based “0x01” signatures.

Lido intends to rotate the credentials through a DAO ceremony, where participants will sign a rotation message that will then be broadcast to the consensus layer network.

As previously reported, Ethereum’s upcoming Shanghai upgrade has seen Lido Finance lead the charge as the largest decentralized finance protocol, with over $8 billion of value staked on its platform going into 2023.

Total crypto market cap closes in on $1T right as Bitcoin price moves toward $20K

Crypto traders chase after neutral-to-bullish options as Bitcoin price targets $20,000 and the total crypto market cap surges above $900 billion.

The total cryptocurrency market capitalization reached its highest level in over two months on Jan. 13 after breaking above the $900 billion mark on Jan. 12.

While the 15.5% year-to-date gain sounds promising, the level is still 50% below the $1.88 trillion crypto market cap seen before the Terra-Luna ecosystem collapsed in April 2022.

Crypto markets total capitalization, USD. Source: TradingView

“Hopeful skepticism” is probably the best description of most investors’ sentiment at the moment, especially after the recent struggles of recapturing a $1 trillion market capitalization in early November. That rally to $1 trillion was followed by a 27.6% correction in three days and it invalidated any bullish momentum that traders might have expected.

Bitcoin (BTC) has gained 15.7% year-to-date, but a different scenario has emerged for altcoins, with a handful of them gaining 50% or more in the same period. Some investors attribute the rally to the U.S. Consumer Price Index (CPI) data released on Jan. 12, which confirmed the thesis that inflation was continuing to drop.

While the macroeconomic conditions might have improved, the situation for cryptocurrency companies seems gloomy. New York-based Metropolitan Commercial Bank (MCB) announced on Jan. 9 that it would close its crypto-assets vertical, citing changes in the regulatory landscape and recent setbacks in the industry. Crypto-related clients accounted for 6% of the bank’s total deposits.

On Jan. 12, the U.S. Securities and Exchange Commission (SEC) charged cryptocurrency lending firm Genesis Global Capital and crypto exchange Gemini with offering unregistered securities through Gemini’s Earn program.

A final blow came on Jan. 13 after Crypto.com announced a new wave of staff layoffs on Jan. 13, reducing the global workforce by 20%. Other crypto exchanges that recently announced job cuts in the last month include Kraken, Coinbase and Huobi.

Despite the dreadful newsflow, the macroeconomic tailwinds favoring risk assets ensured that only UNUS SED (LEO) closed the first 13 days of 2023 in the red.

Weekly winners and losers among the top 80 coins. Source: Nomics

Lido DAO (LDO) gained 108% as investors expect the upcoming Ethereum Shanghai upgrade that enables staked Ether withdrawals to boost the demand for liquid staking protocols.

Aptos (APT) rallied 98% after some decentralized applications started to pick up volume, including Liquidswap decentralized exchange (DEX), Ditto Finance staking and yield and nonfungible token (NFT) marketplace Topaz Market.

Optimism (OP) gained 70% after the layer-2 network picked up activity and, combined with its competitor Arbiturm, surpassed Ethereum’s main chain transactions.

Leverage demand is balanced between bulls and bears

Perpetual contracts, also known as inverse swaps, have an embedded rate that is usually charged every eight hours. Exchanges use this fee to avoid exchange risk imbalances.

A positive funding rate indicates that longs (buyers) demand more leverage. However, the opposite situation occurs when shorts (sellers) require additional leverage, causing the funding rate to turn negative.

Perpetual futures accumulated 7-day funding rate on Jan. 13. Source: Coinglass

The 7-day funding rate was near zero for Bitcoin and altcoins, meaning the data points to a balanced demand between leverage longs (buyers) and shorts (sellers).

If bears are paying 0.3% per week to maintain their leveraged bets on Solana (SOL) and BNB (BNB), that adds up to a mere 1.2% per month — which is not relevant for most traders.

Related: Bitcoin price rallies to $19K, but analyst says a $17.3K retest could happen next

Traders’ demand for neutral-to-bullish options has spiked

Traders can gauge the market’s overall sentiment by measuring whether more activity is going through call (buy) options or put (sell) options. Generally speaking, call options are used for bullish strategies, whereas put options are for bearish ones.

A 0.70 put-to-call ratio indicates that put options open interest lag the more bullish calls by 30%, which is bullish. In contrast, a 1.40 indicator favors put options by 40%, which can be deemed bearish.

BTC options volume put-to-call ratio. Source: laevitas.ch

Between Jan. 4 and Jan. 6, the protective put options dominated the space as the indicator soared above 1. The movement eventually faded and the opposite situation emerged as the demand for neutral-to-bullish call options has been in excess since Jan. 7.

The lack of leverage shorts and demand for protective puts points toward a bull trend

Considering the 15.7% gain since the start of 2023, derivatives metrics reflect zero signs of demand from leverage shorts or protective put options. While bulls can celebrate that the $900 billion total market capitalization resistance faced little resistance, derivatives metrics show bears are still patiently waiting for an entry point for their shorts.

Considering the market’s bearish newsflow, the bulls’ main hope remains solely in the framework of a favorable macroeconomic environment, which largely depends on how retail sales data reports next week.

China is also expected to release its economic figures on Jan. 16 and the U.S. will do the same on Jan. 18. Another potential impact on price could be the United Kingdom’s CPI print which is set to be announced on Jan. 18.

The views, thoughts and opinions expressed here are the authors’ alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.

This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.

MetaMask Staking launches, plugging into Lido and Rocket Pool liquid staking

ConsenSys plugs into liquid staking providers Lido and Rocket Pool with the launch of MetaMask Staking.

MetaMask users are set to have access to Ethereum liquid staking providers Lido and Rocket Pool courtesy of a new integration unveiled by ConsenSys. 

MetaMask Staking will unlock the ability for users to stake Ether (ETH) through the Lido and Rocket Pool protocols, touting the service to improve the security and decentralization of the Ethereum blockchain.

Users will be able to compare reward rates, network control and popularity of different liquid staking providers, providing additional information to inform staking solution choices. The service begins with a public beta through the MetaMask portfolio decentralized application.

Users will be able to stake through Lido and Rocket Pool and view Lido (stETH) and Rocket Pool (rETH) staking token balances. These tokens can also be swapped back to ETH through MetaMask Swaps.

Liquid staking is a method of staking assets on the Ethereum blockchain that allows users to earn rewards while maintaining the ability to freely transfer and trade their assets. The assets are deposited in a smart contract, earning rewards based on the total amount staked by all users.

Cast your vote now!

MetaMask product manager Abad Mian told Cointelegraph that the service saw increased user demand for staking solutions following Ethereum’s transition to a proof-of-stake consensus in September 2022.

“From an internal survey, 85% of respondents said they like to review several options before deciding where to stake their assets. In addition, over 74% of respondents stated that they are staking or interested in staking.”

Mian also confirmed that MetaMask will explore the potential of offering additional liquid staking providers. He also clarified that MetaMask was not providing staking services directly but connecting users to Ethereum’s major liquid staking providers through smart contract functionality.

Cointelegraph also enquired about the possibility of staking services being rolled out to MetaMask Institutional, the platform’s offering serving institutional clients. While Mian declined to comment specifically, he noted that MetaMask continues to evaluate its offerings across its range of services.

Mian also said that the impact of staking tools on Ethereum’s decentralization would depend on their popularity, user experience and demand for staking services.

“Staking is just one factor that can impact decentralization in a blockchain network.”

Blockchain analysis carried out by Nansen in December 2022 revealed that demand for liquid Ethereum staking services was on the rise following the Merge. As of Jan. 13, the Ethereum staking contract contains over 16 million ETH, with Lido’s liquid staking pool the largest contributor with over 4.6 million ETH deposited.

Lido overtakes MakerDAO and now has the highest TVL in DeFi

A Nansen in December noted that Ether staking solutions had been in high demand since Ethereum’s shift to proof-of-stake.

Liquid staking protocol Lido Finance appears to have benefited most from the Ethereum merge in September, with its total value locked (TVL) now sitting at the top position among other decentralized finance (DeFi) protocols.

According to data from DefiLlama, Lido’s liquid staking protocol now commands $5.9 billion in TVL, compared to MakerDAO’s $5.89 billion and AAVE’s $3.7 billion.

According to Lido Finance’s website, as of Jan. 2, had $5.8 billion Ether (ETH) staked. Meanwhile, there was around $23.2 million staked in Solana (SOL), $43.9 million in Polygon (MATIC), $11 million in Polkadot (DOT) and $2.2 million in Kusama (KSM).

Lido’s model allows users access to liquid Ether staking without committing to the traditional 32 ETH minimum.

Blockchain data analytics from Nansen in December noted that staking solutions such as these had been in high demand since Ethereum’s shift to proof-of-stake (PoS).

It’s report highlighted the impact of the Merge in introducing staked ETH as an out-and-out cryptocurrency-native yield-bearing instrument that has quickly outstripped other collateralized yield-bearing services.

Lido appears to have benefitted from this, as its fee revenue has been directly proportional to Ethereum PoS earnings since Lido sends received Ether to the staking protocol.

In Nov. 2022 that Lido said it has been collecting $1 million in fees every day since Oct. 2022.

Related: 5 altcoin projects that made a real difference in 2022

Meanwhile, the governing body of the Maker protocol MakerDAO saw its revenue decline to just over $4 million in Q3, a 86% plunge from the previous quarter, according to a Messari statement in Sept. 2022, citing few liquidations and weak loan demand as the reasons for the decline.

In that same month, Lido held the most amount of staked ETH among DeFi, with 31% according to Nansen in September, which is a significant amount compared to major crypto exchanges Coinbase and Kraken, holding 15% and 8.5%, respectively.

Lido fundamentals shine even as the wider crypto market struggles to regain traction

Lido protocol boasts $1 million in daily fee revenue for nearly a month, highlighting its growth in daily active users and Ethereum stakers.

The crypto market has witnessed a turbulent few weeks after the FTX collapse but Lido Finance, a liquid staking protocol, has been a bright spot amidst the chaos. According to Data from DeFiLlama, Lido protocol has earned $1 million or more in fees daily since October 26. 

Let’s analyze the on-chain fundamentals to see why this trend has continued.

What’s behind Lido Finance’s growth?

Lido’s growth started in May 2021, pre-FTX collapse. The fees reached an all-time high on Nov. 10 as fee revenue nearly topped $2.6 million. The protocol earns 10% of the total Ethereum (ETH) staking rewards generated from user deposits.

Data also shows a steady increase in deposits to Ethereum’s PoS consensus translates to an uptick in Lido’s fee capture.

Lido total deposits. Source: Dune Analytics

Lido’s fee revenue moves in tandem with Ethereum Proof-of-stake (PoS) earnings since Lido sends received Ether to the staking protocol. After the FTX collapse, Ethereum activity has grown thanks to an uptick in decentralized exchange (DEX) activity. Ethereum fees and revenue also reached a 30-day peak on Nov. 8, posting $9.1 million in fees and $7.3 million in revenue.

Ethereum fees and revenue. Source: Token Terminal

New and daily active users keep increasing

Unique depositors into the Lido protocol have reached 150,000, demonstrating that Lido is continuing to attract new users. The increase in unique deposits comes after centralized “earn” programs have shown weaknesses due to exposure to their exposure to FTX, Genesis, BlockFi and others.

Lido unique deposits. Source: Dune Analytics

Daily active users and Lido (LDO) token holders are also increasing on Lido. According to data from Token Terminal, daily active users hit a 90-day high of 837 on Nov. 17 further bolstering the platform’s positive momentum.

Lido tokenholders and daily active users. Source: Token Terminal

Related: DeFi platforms see profits amid FTX collapse and CEX exodus

Lido’s market capitalization does not match its on-chain fundamentals

While fees, deposits and revenue continue to increase for Lido, the market cap of LDO tokens is not keeping pace.

As mentioned above, Lido hit a record amount of fees on Nov. 10, at the same time the market cap decreased from $1.2 billion to $663.7 million.

According to Coingecko, during this same period, the price of LDO tokens dropped from $1.80 to a low of $0.90.

Lido’s circulating market cap and fees. Source: Token Terminal

Despite the market-wide downturn, Lido is showing strong fundamentals on multiple fronts. The steady uptick in DAUs, revenue and new unique participants are all key components for assessing growth and sustainability within a DeFi platform.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

Solana TVL drops 32.4% as FTX turmoil rocks ecosystem

Cryptocurrencies understood to have exposure to Sam Bankman-Fried, FTX and Alameda Research appear to have been impacted the most.

The total value locked (TVL) on the Solana chain has plummeted 32.4% in the last 24 hours, as news stemming from the collapse of FTX has sent waves through the crypto ecosystem. 

According to DefiLlama, at the time of writing, Solana’s TVL has fallen to $423.68 million, down 32.4% in the last 24 hours, a far cry from its all-time-high (ATH) of $10.17 billion on Nov. 9, 2021.

Total value locked within the Solana ecosystem Source: DefiLlama

TVL measures the total value of all assets locked into decentralized finance (DeFi) protocols. As TVL increases, that means more coins are deposited within the DeFi protocols and can indicate bullish sentiment, while a falling TVL shows that investors are pulling their funds out of the ecosystem for one reason or another.

The fall in TVL went as far as a 51.7% decline over 24 hours, however, but slightly corrected leading up to the writing of this article.

The Solana-based liquid staking protocol Marinade Finance has seen the biggest loss in TVL on the chain, having fallen 35.1% to $115.79 million within the last 24 hours.

Other major protocols on Solana have seen similar decreases over the last 24 hours, with automated market maker Raydium down 34.25%, liquid staking protocol Lido down 43.13% and lending protocol Solend down 63.07%.

Other leading blockchains have also seen decreases in TVL over the same time period, with Ethereum down 10.59%, BNB Chain down 9.68% and Tron down 8.84%.

Sam Bankman-Fried (SBF), the founder of FTX and crypto hedge fund Alameda Research, had been an early investor in Solana though Alameda Research and cryptocurrencies exposed to SBF’s companies have been the hardest hit by the fallout.

Solana (SOL) has also dropped heavily compared to its competitors, with the price falling 40.53% to $13.38 over the last 24 hours.

The token had briefly risen after news that Binance might end up acquiring FTX but dropped after Binance backed out of the deal, citing allegations of consumer funds being mishandled and an investigation from regulators.

Related: Solana’s co-founder addresses the blockchain’s reliability at Breakpoint

Despite the recent challenges facing SOL, co-founder of Solana Labs Anatoly Yakovenko has reiterated his bullish stance on the network despite recent losses. 

He pointed to the quality of builders and recent network-level improvements as big positives in a Nov. 9 tweet.

Throughout Solana’s annual conference, a range of announcements were made including a partnership with Google Cloud, the launch of the Solana App Store and an upcoming smartphone.