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LD Capital: Full analysis of popular projects in Solana ecosystem

LD Capital: Full analysis of popular projects in Solana ecosystem

BlockBeats-Article2024/04/01 12:10
By:BlockBeats-Article
Original title: "LD Capital: Solana high-performance public chain revitalization and project analysis"
Original author: Jaden, Jill, LD Capital


1. Fundamental introduction


Solana is a Layer 1 blockchain based on PoH, focusing on high energy efficiency, high transaction speed, and low fees. It was developed by the former Qualcomm Founded in 2017 by company executive Anatoly Yakovenko. After the FTX crash, the SOL token price and the entire ecosystem suffered a fatal blow, and the Solana ecosystem was in an extremely sluggish state for more than a year.


Currently, the Solana ecosystem has restored its vitality, mainly for the following reasons:


1) The market is recovering overall. According to Artemis data, on October 1, 2023, the market value of stablecoins in the blockchain market was 130B. In the fourth quarter of 2023, the market value of stablecoins increased to 135.5B. As of March 36, 2024, the number of stablecoins in the market increased to the current 156.5B. The market cap of stablecoins on Solana has grown from 883.9M to 97.5B, a growth rate of approximately 170,000%.


2) Multiple new projects appear in the ecological project, and potential airdrops attract users. Jupiter, the largest transaction aggregator on the Solana chain, announced in January 24 an airdrop of JUP to early users, an airdrop of Bonk to soga mobile phone holders, etc., as well as a series of new protocols in the Solana ecosystem: Drift Protocol, Backpack, Marginfi, and magic eden. The coins have not yet been issued, which has aroused users' enthusiasm for interacting with new projects in the Solana ecosystem.


3) High-performance features have contributed to the prevalence of meme culture. As the price of ETH tokens rises, the interaction fees of the Ethereum chain are too high compared to other public chains and second layers, prompting non-whale users to disperse to other chains. As the original leader of meme tokens on Solana, BONK’s market value reached US$1.5 billion in mid-December, and the wealth-making effect of memes on Solana began to spread.


2. Token situation


The total number of SOL tokens in circulation is 573 million. The amount is 444 million, and the pledged amount of tokens is 360 million. The current market capitalization is $87.2 billion, surpassing the previous bull market high.


LD Capital: Full analysis of popular projects in Solana ecosystem image 0


3. Ecology


The current TVL of Solana is US$4.99 billion, and the ecosystem is in a rapid recovery stage. It’s just one step away from the TVL high of $10 billion during the last bull market. The number of daily active users and new addresses on the chain has continued to hit new highs since May 2022. The number of active addresses since March 2024 is 3743, and the number of new addresses is 2784.


LD Capital: Full analysis of popular projects in Solana ecosystem image 1


Meme


Meme, Chinese for "meme", is defined as "the basic unit of culture that can be transmitted through non-genetic means, especially imitation." In the Internet society, memes are considered to be viral The culture of communication can be in the form of language, pictures, videos, behaviors, etc. The replication properties of memes should have three characteristics, namely inheritance, mutation and selection. After users voluntarily filter information, they copy and share the information they agree with. Information that is difficult to gain public recognition often fades out of the public's sight over time, thus realizing cultural inheritance and selection. In the process of communication, it should have the characteristics of re-creation, so as to realize the re-creation of culture. In addition, we also need to pay attention to the power of subconscious emotions. Only when enough transmitters fully add their own emotions and emotions can it be possible to achieve explosive results.


The top 100 meme tokens by market capitalization are DOGE, SHIB, PEPE, WIF, FLOKI, and BONK. Apart from the meme tokens on Ethereum, only the solana meme token is in the top 100 by market value. In the meme culture of the blockchain, "DOGE" dog culture can be regarded as the original cultural unit. SHIB and FLOKI are the re-creations of dog culture on the Ethereum chain, while BONK and WIF are the re-creations of dog culture on Solana. . The WIF community contains a broader community base, so it later surpassed BONK and became the meme leader on Solana.


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Market capitalization (data taken from Coingecko; March 24, 2024)


Dogwifhat (WIF)

The dogwifhat meme was originally popular among players of Fortnite and Rocket League. On November 6, 2019, Fortnite professional player issa first set his Twitter profile picture to a photo of a Shiba Inu wearing a pink knitted hat. Twitter user @Vapurly commented "Dogwifhat" and later posted "Join dogwifhat" of Twitter content. Subsequently, a large number of influential celebrities have successively used the image as their social media avatar, including Fortnite streamer Vraxito, Rocket League players Spoodah, nxtsabo, etc.


The Dogwifhat token was inspired by this image and launched in November 2023. On March 1, 2024, Robinhood announced that it would add support for WIF to its crypto platform. On March 2, Arthur Hayes, co-founder and CEO of cryptocurrency exchange BitMEX, tweeted that he was bullish on WIF.


Bonk (BONK)

BONK will be launched on December 25, 2022 as a gift to the solana community As a Christmas gift, 50% of the tokens are used for airdrops. The project aims to challenge the dominance of VC tokens and oppose the token economics of low circulation and high inflation.


BONK tokens are highly accepted in the solana community, and are accepted by penBook and Orca platforms as a payment option for NFTs, and as an incentive for staking NFTs on platforms such as SolFarm and BonkStake. measure. BONK is also expanding its reach further by airdropping Solana Saga encrypted phones.


Book of MEME (BOME)

Book of MEME is a CC0 meme library that can also be used to Centralized social network, NFT that links everything, and mini GIFs on the solscan network, released by Pepe Meme artist Darkfarm. The project originally planned to raise 500 SOL, but finally raised a total of 10,131 SOL. All SOL raised is added to the LP pool, providing it with good initial liquidity so that whales can easily participate in transactions.


Slerf (SLERF)

On March 17, Slerf announced fundraising news through its Twitter account. After successfully raising more than 50,000 SOL, half of the funds raised will be used for pre-sale and the other half will be injected into the liquidity pool (LP). This approach is consistent with the rules of other fundraising MEME projects and has no special features. However, on the 18th, the founder of the Slerf project @Slerfsol announced on


Myro (MYRO)

Named after Solana co-founder Raj Gokal’s pet dog Myro. MYRO holders can use the token to purchase limited edition Myro merchandise, including T-shirts, hats, and hoodies. The project also regularly hosts community events, including voice chats, forums, and competitions to strengthen community cohesion. The team chose to implement a 0% transaction tax on the token to ensure that users do not incur additional fees when making transactions. In addition to giving up contract ownership, developers also burned their LP tokens, further strengthening the decentralized nature of the meme token.


WEN

WEN is a meme token issued on the LFG Launchpad platform test based on the Jupiter project.


The token distribution is: 70% for airdrops, including Jupiter users, Ovols NFT holders, Blue Chip NFT holders, Genesis Saga NFT holders, mockJUP test users, etc. 20% is used to build liquidity in DLMM; 10% is reserved for the treasury, of which 0.75% of WEN will be given to Jupiter DAO and 0.25% will be given to the Jupiter team; after the airdrop claim is over, all unclaimed WEN will be destroyed.


DEX


Jupiter (JUP)

Introduction: Jupiter was launched in September 2021 as a DEX aggregator on Solana, aiming to provide Solana users with a better trading experience by delivering liquidity from multiple sources. Currently, it mainly provides four functions: transaction aggregation, limit order, DCA/fixed investment, and Jupiter Start.


According to the Coingecko decentralized exchange transaction volume ranking, Jupiter's 24-hour transaction volume is only lower than Uniswap, ranking second, and has surpassed Uniswap several times in recent times. On the one hand, due to the popularity of the Solana ecosystem, the transaction volume is extremely active, and on the other hand, due to its good liquidity, Jupiter has become the first choice for Solana users to trade.


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In order to let Jupiter community members and users know more about new projects in the Solana ecosystem, Jupiter launched the Jupiter Start business. One of the key functions, the Launchpad launch pad (LFG), has now been launched. It is also the only active DEX with a launch pad on Solana. Currently, LFG Launchpad has opened the first round of voting on March 7, and can issue tokens for candidate projects that are supported. The first round of candidate projects are Zeus Network, SharkyFi, and UpRock. Zeus Network has confirmed that it will be listed on LFG Launchpad.


In the voting process designed by Jupiter DAO, JUP holders obtain voting rights by locking JUP tokens and actively vote on proposals and LFG candidate projects, with no minimum pledge Quantitative restrictions. There is a 30-day cooling-off period for staked tokens to be unlocked, during which you can still participate in voting, but your voting rights will gradually decrease.


Jupiter plans to distribute 100 million JUP tokens and 75% of launchpad fees to stakers. According to Jupiter DAO historical data, 22,000 wallet addresses have pledged approximately 240 million tokens in the first round of voting (March-June). This time there are 50 million tokens and other Launchpad fees (including 7.5 billion WEN) will be put into distribution, and the other 50 million will be used in the next quarter, which means that the first round (90 days) staking return rate of JUP can reach at least 84% (0.5/2.4/90*100%*365).


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And Jupiter has specially set up Jupiter Labs for incubation infrastructure. The products scheduled to be launched are derivatives DEX and LSD stable currency. Labs is independent of Jupiter and will eventually operate independently. Derivatives Perps is similar to the GMX V1 protocol. It has launched a Beta version and supports three assets: SOL/ETH/WBTC. The 24-hour trading volume of the most active SOL trading pair has reached 200 million U.S. dollars, which is enough to see that driven by Jupiter, Jupiter Labs has attracted More market users and funds. The stablecoin protocol XYZ has not yet been launched, and users can mint the interest-bearing stablecoin SUSD by staking SOL.


At present, Jupiter has aggregated most of the transaction volume on Solana, and with the support of its huge user traffic and project resources, Jupiter Start and Jupiter Labs It can promote the improvement of Jupiter and Solana ecosystems, and can form a linkage effect to a certain extent, further expanding Jupiter's market potential.


Team and investment:

The main members of the team are Meow and Ben Chow, who established Jupiter in May 2021. At the same time, They are also members of Meteora, the liquidity platform on Solana. Jupiter has not announced any funding.


Token situation:

The project will officially issue tokens on January 31, 2024. Its total tokens will be 10 billion, 40% of which will be distributed to the community through 4 rounds of airdrops. The airdrop allocated 10% of the tokens, which means that there are still expected airdrops in the future to encourage users to adopt.


The current market value is US$1.605 billion, and mainstream exchanges listed on it include Binance and Gate. The circulation of JUP is 1.35 billion, and 240 million tokens were pledged in the first round of voting, which is equivalent to locking 18% of the liquidity, and there are even fewer chips circulating in the market. The spiral of high yields and reduced circulation is likely to further drive up the JUP token price.


LD Capital: Full analysis of popular projects in Solana ecosystem image 5


Raydium (RAY)

Introduction: Raydium is the first AMM and liquidity provider built on Solana, and its core product is Raydium DEX. Raydium is unique in that its integration with Serum’s order book enables market participants to trade digital assets with greater flexibility, and Raydium’s liquidity pool contributes to Serum’s order book, enhancing overall liquidity. This integration ensures that anyone on Serum can trade orders on Raydium and vice versa.


Raydium also comes with a Launchpad function. It was once the most popular DEX on Solana. The previously popular Star Atlas game project also completed its IEO on this platform. . Raydium's new pool can be Ray Pool and Community Pool. Community Pool completes some social platform interaction tasks according to the requirements of the project party to participate in the issuance of IEO. Ray Pool is the token RAY, which can obtain new tickets based on the number of pledges, thereby providing RAY token empowerment.


However, the project suffered a hacker attack in December 2022, resulting in a loss of approximately US$4.4 million, which was later compensated to investors through the project treasury. Due to the decline of the Solana ecosystem and the negative impact of hacker attacks, Raydium entered a trough of development, and its market value was once surpassed by Orca.


Team and Investment

Rdydium’s team has many years of experience in the field of cryptocurrency quantification and market making, and was introduced to the Solana ecosystem by the FTX team . Raydium did not disclose the relevant financing amount.


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Token situation:

RAY tokens total 555 million, launched on February 21, 2021. The current market value is 500 million US dollars, FDV is 1.07 billion US dollars, and the token circulation volume reaches 46.7%. In the RAY economic model, 22% of the tokens are allocated to the team and consultants. It is reported that this part of the tokens has a lock-up period of at least 3 years, which means that some of the team's tokens may be unlocked in 2024.


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Depin


Nosana (NOS)

Introduction: Nosana is a distributed GPU network that allows anyone to rent computing power. By utilizing the potential of idle GPUs around the world, it can achieve on-demand access to GPU computing power, solve the problem of GPU shortage in the market, and provide AI users with the computing resources needed for metaverse projects.


Nosana aims to combine AI with blockchain technology to meet the growing demand for GPU units for AI reasoning.


With the explosive growth in the field of AI, Nosana has quickly turned to AI reasoning, and the token price has therefore achieved relatively good performance.


According to Nosana browser data, from mid-December 2023 to March 2024, Nosana AI reasoning showed relatively strong demand.


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Token situation:

The total number of NOS tokens is 100 million, with a current market value of 410 million US dollars and a circulation volume of 83%. The mainstream exchanges listed include Gate and MEXC. Liquidity is mainly concentrated in Raydium.


NOS is the native token of the Nosana ecosystem, used to pay for services and purchase computing resources on Nosana, and NOS tokens are also required when deploying AI reasoning work on Nosana. At the same time, Nosana provides token staking for users to earn rewards. Of the fees generated in the Nosana network, 2% is used to reward NOS stakers, and NOS tokens can capture a certain value in the Nosana network.


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Helium (HNT)

Introduction: Helium aims to use corresponding incentives to encourage miners to deploy hotspots, provide wireless network coverage, provide low-power, wide-coverage wireless network access for IoT devices, and reward miners through an original coverage proof mechanism. Helium's potential and prospects come from its mining model. Its original PoC (Proof of coverage) is an optimized version of the PoW mining mechanism, which can also be regarded as a geographical location PoW mining mechanism. It is completed through wireless network technology. Its characteristics are: It consumes less energy, does not require a lot of electricity, and has a very low entry threshold for mining, so it is popular among users.


On April 20, 2023, the Helium network completed its migration to the Solana network, with the strongest ecological and strongest narrative dual buffs superimposed. Currently, the community covers nearly 990,000 hotspots and 400,000 active hotspots.


The 2024 DePIN Global Hardware Conference will be held at Hong Kong Cyberport on April 8, and Helium Foundation CEO Abhay Kumar has confirmed his attendance.


Team and investment:

The Helium project was founded in 2013 and is headquartered in San Francisco, USA. Since 2014, Helium has completed at least 4 rounds of financing, and a US$200 million Series D financing was completed in 2022 with a valuation of US$1.2 billion. The performance of each round of financing is very impressive. Participating companies include A16Z, Multicoin and Google Ventures.


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Token situation:

HNT token total The total volume is 223 million, the circulation is 163 million, and the market value is US$980 million. HNT is the primary economic asset in the Helium ecosystem, and the only way to pay for network data transmission is to burn HNT.


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Helium Mobile (MOBILE)

Introduction: Helium Mobile wants to become a decentralized 5G network operator, incentivize individuals through tokens to share hotspot facilities, and use countless small and dispersed hotspots to replace large base stations, thereby achieving a low-cost, high-coverage network. MOBILE is the Helium subDAO governance token introduced to the wider Helium network through community proposal HIP53, which is mined by 5G-CBRS and WiFi hotspots through data transmission and proof of coverage. The network proposes a mechanism in which usage determines token rewards, which to some extent reduces the possibility of idling devices to cheat rewards. The project is in its early stages and the equipment participating in the network is still very limited.


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Token situation

The maximum supply is 230 billion tokens. Coin mining will start in August 2022 and will be halved every two years. Both hotspot providers and service providers must stake MOBILE tokens to join the network. The current circulating supply of tokens is 85.6 billion, with a circulation rate of 37%. It has been listed on Coinbase.


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Shadow Token (SHDW)

Introduction: Shadow is a stable, high-performance cloud platform developed by GenesysGo and supported by a decentralized operator network. Shadow Drive is a decentralized, high-performance and scalable object storage designed for Web3 builders. Shadow’s Solana RPC is built on a network of independent operators, truly decentralizing backend APIs by paying computing fees directly to ecosystem operators.


Previously, third-party storage solutions such as Arweave and Filecoin were often used for NFT and other storage activities on Solana, but they were all independent storage companies. Chains, incompatible with Solana, perform storage activities paid for with their respective tokens. ShadowDrive is the native storage system of the Solana ecosystem and is designed to meet Solana’s growing demand for ecosystem storage.


According to the official documentation of the project, the storage cost of Shadow Drive is cheaper than any similar project on the market. On the one hand, it benefits from Solana’s own low gas cost. , on the other hand, due to the reasonable decomposition, scheduling and arrangement of storage tasks at the bottom of ShadowDrive, this involves the project's data distribution and consensus engine D.A.G.G.E.R. (directed acyclic gossip graph enabling replication), which can optimize fast data access and file processing. Make storage more efficient.


On January 17, 2024, the official officially announced the launch of ShadowDrive V2 and D.A.G.G.E.R test network, and the project team provided a total of 600,000 SHDW tokens for incentives Contributing node operators and users.


And GenesysGo officially stated on the Marketing, marketing.


LD Capital: Full analysis of popular projects in Solana ecosystem image 14 token situation:


The total number of SHDW tokens is 169 million, and the current circulation has reached 96% , with a market value of US$220 million and an FDV of US$230 million. It has not yet been launched on mainstream centralized exchanges, and liquidity is mainly concentrated on Raydium.


LD Capital: Full analysis of popular projects in Solana ecosystem image 15


Solchat (CHAT)

Introduction: Based on the communication protocol of the Solana blockchain, users can make voice calls, text messages and other operations through the web3 environment, and all group chat information is stored on the chain, and every interaction between users will be encrypted for privacy protection. . Currently in v1 version, v2 version is expected to be released soon. v2 is the final version and will reduce usage fees, support group chats, and add NFT avatars and other functions. The success of the Facetime communication between its v1 version of the wallet and the wallet caused the price of its token to rise.


Token situation:

The total number of CHAT tokens is 10 million, 50% is used for pre-sale, 10% is used as LP, 10% is allocated to the team, 10% is used for marketing, and 10% is used for the centralized exchange. The current market cap is $90.6 million. Solchat has introduced a staking mechanism where users can stake their $CHAT tokens into a staking pool to receive an 80% revenue share of the total pool.


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Solcard (SOLC)

Introduction: Solcard is an encrypted virtual card that supports SOL recharge and no KYC. This encrypted virtual card supports online shopping. Solcard charges a 5% fee on each user deposit and plans to return 50% of the fees collected to SOLC token holders. WeChat supports Solcard’s binding payment, causing its price to rise.


Token situation: The total number of tokens is 100 million, 80% is used for fair sale, 10% is used for marketing, and 10% is used as a reserve treasury and operations. The current market cap is $16 million.


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Liquidity Pledge Agreement


Since ETH becomes an interest-bearing asset after being converted to PoS, the threshold for individuals to directly participate in staking is high, and the staking services launched by exchanges have been criticized for being highly centralized, while the liquid staking platform can provide pledge proof tokens It can also be used in DeFi protocols to improve fund utilization, thus gaining favor from the market. The inflationary model of the SOL token economic model also incentivizes SOL holders to stake their tokens.


The number of SOL pledges reached a historical peak on October 30, 2023, at 398 million. Due to the increase in currency prices, some tokens have chosen to un-pledge. Currently, Solana has pledged a total of 380 million SOL, of which more than 357 million are pledged directly through nodes, and 23 million SOL are pledged through the liquidity staking agreement. Among them, the three largest liquidity staking protocols in the ecosystem are Marinade Finance, Jito Network and Blazestake.


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Jito network

Introduction: Jito network is a liquidity staking protocol launched by Jito Lab. Jito provides pledgers with staking income and can also capture MEV income in the Solana network. Its products include: client Jito Solana, Jito Bundles, blockchain builder Jito Block Engine, and MEV distribution system. Since its MEV business can allocate part of the MEV income to JisoSOL, the income of users staking through Jito is also relatively higher. The protocol TVL grew rapidly before November 2023, the number of pledges fell after the airdrop snapshot, and the number of pledges increased slowly after January. According to dune data, Jito is currently the largest liquidity staking protocol in the solana ecosystem, with 9.16 million SOLs pledged.


Investment institutions: Received US$2.2 million in seed round financing.

The Series A round of financing raised $10 million, led by Multicoin Capital and Framework Ventures, with participation from Solana Ventures and Solana Labs co-founder Anatoly Yakovenko.


Token situation

Jito’s native token is JTO, with a current circulating market value of US$331 million. It will be officially launched on December 7, 2023 issuance, the total supply is 1 billion, the current circulation is 11.7%, and the main trading venue is Binance. 34.3% of the total token supply is used for community growth; 24.5% is allocated to core contributors; 25% is used for ecological development; 16.2% is allocated to investors. Of the tokens allocated for community growth, 100 million were allocated to airdrops, 80 million were allocated to JitoSOL holders, 15 million were allocated to validators running the Jito client, and 5 million were allocated to the search for Jito MEV By.


LD Capital: Full analysis of popular projects in Solana ecosystem image 20


Marinade

Introduction: in 2021 Officially launched in August of this year, it is the earliest liquidity staking agreement in the Solana ecosystem. Users can pledge SOL on the Marinade platform and obtain mSOL. The unlocking time for mSOL is typically 3 days, consistent with the Solana network staking epoch time. Marinade also provides a native staking service, allowing users to earn staking rewards without using any smart contracts (and therefore no LST). The current number of SOL pledged on Marinade is 6.23 million.


As the earliest staking agreement on the Solana chain, Marinade’s maximum SOL pledge amount in history is approximately 9 million, and has subsequently been launched by staking platforms such as Lido and Jito. Despite the impact, the business has remained at a relatively stable level for a long time. Marketing capabilities are relatively average, so market attention has always been low.


Token situation: The total number of tokens is 1 billion, the circulating market value is 78 million US dollars, and it has been listed on coinbase. 35% (350 million) of the token distribution is allocated to liquidity mining, and approximately 0.17% (1.7 million) is distributed weekly to reward mSOL holders.


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Blazestake

Introduction: Blazestake launches in May 2022. On the BlazeStake platform, stakers have two options: one is to join the standard delegation pool, and the other is to choose any validator for SOL staking. Either way, stakers receive bSOL as proof of their liquidity staking earnings. The platform's network pledge amount increased rapidly in November 2023, from 600,000 SOL to 2.39 million SOL, with a growth rate of 400%, which may be related to the platform's hint of an airdrop.


Token information:

The total number of tokens is 10 billion, and the current market value is US$19 million. No other token information found.


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Oracle


Pyth Network (PYTH)

Introduction: Pyth Network is a price oracle solution developed by Douro Labs. The protocol product is mainly Price Feed (price feed service) ), Benchmarks (providing on-chain and off-chain historical data) and Entropy (random number) services. The Pyth Network uses first-party data networks to publish data to Solana and Pythnet, supporting data sources from traders, market makers, and DeFi protocols. Pyth uses a "push" model to solve the problems of the traditional "pull" model and reduce latency, scalability and network costs.


In February 2024, Python’s transaction volume accounted for nearly 20% of the Solana network. Due to the popularity of solana meme token transactions in March, Python’s transaction volume still accounted for 20% of the Solana network. Nearly 10%. Due to their wide range of partners, multiple protocols have announced token airdrops for PYTH stakers.


Investment institutions:

Announced the completion of strategic financing in December 2023, Castle Island Ventures, Multicoin Capital, Wintermute Ventures, Borderless Capital, CMT Crypto companies such as Digital, Bodhi Ventures, Distributed Global and Delphi Digital participated in the investment, and the amount of financing was not disclosed.


Token situation: The maximum supply of tokens is 1 million, the current token circulation rate is 15%, and the next token unlock time is May 20 On the day, the circulation will increase to 36.2%. Staking PYTH tokens can participate in protocol governance voting. The current pledged amount is 127 million, accounting for 8.4% of the circulating supply.


LD Capital: Full analysis of popular projects in Solana ecosystem image 23


Parallel EVM


Neon (NEON)

Introduction: Neon is the Ethereum virtual machine on Solana, compatible with EVM, allowing developers to use Ethereum tools to build and deploy on Solana Decentralized application (dApp) built by Neon Labs.


NEON creates an EVM-like code execution environment that works by bringing incentivized Neon EVM operators to the Solana blockchain, which stands for Ethereum dApp users facilitate transactions. These operators receive Ethereum-like transactions from dApps using the Neon EVM. They are then packaged into Solana transactions and finally these transactions are sent to the Solana blockchain for execution.


The Neon EVM enables Solidity and Vyper-based dApps to take advantage of the benefits of the Solana network: low fees, high transaction speeds, and parallel transaction execution capabilities.


Team and investment

Neon CEO Marina Guryeva is a master of INSEAD, CTO Andrey is a computer science and control system expert , both of whom have extensive experience working in blockchain.


Neon completed US$40 million in financing on November 9, 2021, led by Jump Capital, with participation from Three Arrows Capital, Solana Capital, IDEO CoLab Ventures and others. Then, on November 11, German blockchain incubation company Advanced Blockchain AG announced that it had invested in Neon Labs through its subsidiary.


Token situation:

The total number of NEON tokens is 1 billion, the current circulation accounts for 5.77%, and the circulation market value is 100 million US dollars. FDV $1.74 billion. NEON tokens will be launched on July 17, 2023. The current circulating part is basically 5% of the public offering. The tokens of seed round investors, early contributors, teams and other relevant stakeholders have a 1-year lock-up period, and within 1 year thereafter Linear unlocking, the unlocking period is July 17, 2024.


NEON’s main liquidity venues are Gate.io and Orca, and on March 27, Coinbase included SHDW and NEON tokens in the currency listing route picture.


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