The past week has been a spectacle for the Solana[1] community with a host of new features launched. These upgrades can be traced down in Solana-based protocols and the mainnet as well.
Consequently, there have been significant changes in the SOL token’s price action during the period under review.
According to CoinMarketCap, SOL, at press time, was trading at $42.35 after taking a slight dip on 8 August. This dip came in spite of a 101% volume surge on Solana.
Built-within
One of the interesting developments in Solana in the past month is traffic recorded by AMMs.
These AMMs (Automated Market Makers) are financial instruments that contribute to increasing liquidity on Solana.
A recent update[2] confirmed that Raydium and Orca continue to lead monthly traffic among Solana AMMs. But, Raydium continues to gather 3x as much traffic as Orca.
Next is the fast-growing Saros Finance which has rushed into the top three wallets after its latest performances.
Another update has confirmed the release[4] of “Seahorse” powered by Anchor[5] protocol.
Seahorse is a framework for developing Solana programs on Python which aims to gather 100 million developers on Solana. The Seahorse upgrade ensures compatibility with Anchor along with compile-time type safety.
Solana has also released[6] a weekly blog recently highlighting key mainnet development updates.
Firstly, the latest proposal for “Off-chain Message Signing” has been laid down. The current proposal outlines how off-chain message signing can be accomplished with hardware wallets.
This can enable features such as log-in in with a wallet and proving ownership over a wallet without a transaction.
Another day, another lax
Despite a new raft of features, Solana continues to be a target[7] for network failures.
